×

TESARO Announces Proposed Public Offering of Common Stock

WALTHAM, Mass., March 2, 2015 (GLOBE NEWSWIRE) -- TESARO, Inc. (Nasdaq:TSRO) announced today that it has commenced an underwritten public offering of $150 million of its common stock. In connection with this offering, TESARO plans to grant the underwriters an option to purchase up to an additional $22.5 million of its common stock to cover over-allotments. Citigroup, Leerink Partners and Deutsche Bank Securities are acting as joint book-running managers for the offering, with BMO Capital Markets, Robert W. Baird & Co. Incorporated and Mizuho acting as co-managers for the offering. The offering is subject to market 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.

The offering will be made by TESARO pursuant to its automatic shelf registration statement on Form S-3 filed with the Securities and Exchange Commission ("SEC") on July 1, 2013. A preliminary prospectus supplement and related prospectus related to the offering have been filed with the SEC and are available on the SEC's website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and related prospectus relating to this offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone at 1-800-831-9146 or email at prospectus@citi.com, from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, via telephone at 1-800-808-7525 (ext. 6142) or email at syndicate@leerink.com, or from Deutsche Bank Securities Inc., Attention: Prospectus Department, 60 Wall Street, New York, New York 10005-2836, via telephone at (800) 503-4611 or email at prospectus.cpdg@db.com.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor will there be any sale of, these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or other jurisdiction.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties, including statements regarding the proposed public offering. More information about potential factors that could affect TESARO's business and financial results is contained in its annual report on Form 10-K, its quarterly reports on Form 10-Q and other filings with the SEC. TESARO does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.

About TESARO

TESARO is an oncology-focused biopharmaceutical company dedicated to improving the lives of cancer patients by acquiring, developing and commercializing safer and more effective therapeutics.

CONTACT: For further information, please contact: Jennifer Davis Sr. Director, Corporate Development & Investor Relations 1.781.325.1116 jdavis@tesarobio.com

Source:TESARO, Inc.