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TESARO Announces Closing of Public Offering of Common Stock and Exercise of Option by Underwriters

WALTHAM, Mass., July 07, 2016 (GLOBE NEWSWIRE) -- TESARO, Inc. (TSRO) today announced the closing of its previously announced underwritten public offering of common stock. TESARO sold 5,347,500 shares of its common stock at an offering price to the public of $81.00 per share, which included 697,500 shares of common stock sold pursuant to the full exercise of the underwriters’ option. TESARO estimates that the net proceeds from the offering will be approximately $409.0 million, after deducting the underwriting discount and other offering expenses payable by TESARO. Citigroup, Leerink Partners, Credit Suisse and Wells Fargo Securities acted as bookrunners, and Guggenheim Securities, Mizuho Securities, Raymond James, SunTrust Robinson Humphrey and Wedbush PacGrow acted as co-managers for the offering.

The shares described above were issued by TESARO pursuant to its...