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Loxo Oncology Announces Proposed Public Offering of Common Stock

STAMFORD, Conn., May 11, 2016 (GLOBE NEWSWIRE via COMTEX) --

Loxo Oncology, Inc. LOXO, -5.36% a biopharmaceutical company innovating the development of highly selective medicines for patients with genetically defined cancers, announced today that it intends to offer shares of its common stock in an underwritten public offering. Loxo Oncology also expects to grant the underwriters a 30-day option to purchase additional shares of its common stock offered in the public offering at the public offering price less the underwriting discounts and commissions. All of the shares will be offered and sold by Loxo Oncology.

Citigroup and Cowen and Company are acting as joint book-running managers for the offering. Stifel is acting as joint lead manager. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Loxo Oncology intends to use the net proceeds from this offering for general corporate purposes, which may include funding research and development, increasing its working capital, acquisitions or investments in businesses, products or technologies that are complementary to its own and capital expenditures.

The public offering will be made pursuant to a shelf registration statement on Form S-3 that was filed by Loxo Oncology with the Securities and Exchange Commission ("SEC") on August 3, 2015 and declared effective by the SEC on August 11, 2015. A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the SEC...