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Durata Therapeutics Prices Public Offering of Common Stock

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CHICAGO, April 12, 2013 (GLOBE NEWSWIRE) -- Durata Therapeutics, Inc. (Nasdaq:DRTX) today announced the pricing of an underwritten public offering of 7,150,000 shares of its common stock at a public offering price of $7.00 per share, before underwriting discounts. In addition, the underwriters have an option for a period of 30 days to purchase up to an additional 1,072,500 shares of common stock from Durata at the public offering price less the underwriting discount.

All of the shares in the offering are to be sold by Durata, with expected net proceeds to Durata of approximately $46.3 million after deducting underwriting discounts and commissions and estimated offering expenses. The offering is expected to close on or about April 17, 2013.

BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and Jefferies LLC are acting as joint book-running managers for the offering, and JMP Securities LLC and RBC Capital Markets, LLC are acting as co-managers.

A registration statement relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission on April 11, 2013. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting BofA Merrill Lynch by mail at 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or by e-mail at dg.prospectus_requests@baml.com; Credit Suisse Securities (USA) LLC by mail at One Madison Avenue, New York, NY 10010, Attn: Prospectus Department, by e-mail at newyork.prospectus@credit-suisse.com, or by telephone at 1-800-221-1037; or Jefferies LLC by mail at 520 Madison Avenue, New York, New York 10022, Attn: Equity Syndicate Prospectus Department, by e-mail at Prospectus_Department@Jefferies.com, or by telephone at 1-877-547-6340.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or 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 jurisdiction.

About Durata Therapeutics

Durata Therapeutics is a pharmaceutical company focused on the development and commercialization of novel therapeutics for patients with infectious diseases and acute illnesses. Durata has completed two global Phase 3 clinical trials with its lead product candidate, dalbavancin, under investigation for the treatment of patients with acute bacterial skin and skin structure infections caused by susceptible gram-positive bacteria.

CONTACT: Allison Wey Durata Therapeutics, Inc. Vice President, Investor Relations and Public Affairs (312) 219-7017 awey@duratatherapeutics.com

Source:Durata Therapeutics, Inc.