Woburn, MA-based ArQule (NASDAQ:[[ticker:ARQL]]), a developer of cancer drugs, said yesterday that it priced a public offering of 7 million shares of common stock at $6.15 per share, expecting to bring in net proceeds of $40.5 million from the stock sale. The company gave underwriters of the offering the option to buy up to 1.05 million more shares to cover over-allotments. The offering is expected to close on January 25.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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