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AVEO Pharmaceuticals, Inc. Announces Pricing of $25 Million Underwritten Public Offering
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AVEO Pharmaceuticals, Inc. Announces Pricing of $25 Million Underwritten Public Offering

CAMBRIDGE, Mass.–(BUSINESS WIRE)–AVEO Pharmaceuticals, Inc. (Nasdaq: AVEO) (“AVEO” or the “Company”), a
biopharmaceutical company seeking to advance targeted medicines for
oncology and other unmet medical needs, today announced the pricing of
its previously announced underwritten public offering of 21,739,131
shares of common stock and short-term warrants to purchase up to
21,739,131 shares of common stock at a price to the public of $1.15 per
share and accompanying warrant. The Company expects to receive gross
proceeds of approximately $25 million from the offering. The offering is
expected to close on or about April 8, 2019, subject to customary
closing conditions.

H.C. Wainwright & Co. is acting as sole book-running manager for the

Each warrant has an exercise price of $1.25 per share of common stock,
will be immediately exercisable upon issuance, and will expire on the
second anniversary of the date of issuance.

The Company has granted the underwriters a 30-day option to purchase up
to 3,260,869 additional shares of common stock and/or warrants to
purchase 3,260,869 shares of common stock at the public offering price,
less underwriting discounts and commissions.

The Company intends to use the net proceeds from the offering for
ongoing clinical and preclinical development of its product candidates,
as well as for working capital and other general corporate purposes.

The securities described above were offered by the Company pursuant to a
“shelf” registration statement on Form S-3 (File No. 333-221837)
previously filed with and declared effective by the Securities and
Exchange Commission (“SEC”) on December 15, 2017. A preliminary
prospectus supplement and an accompanying prospectus relating to the
offering has been filed with the SEC and is available on the SEC’s
website at
A final prospectus supplement and accompanying prospectus will be filed
with the SEC. Electronic copies of the final prospectus supplement and
the accompanying prospectus relating to the offering may also be
obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park
Avenue, 3rd Floor, New York, NY 10022, or by calling (646) 975-6996 or
by emailing

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the Company’s securities, 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
registration or qualification under the securities laws of any such
state or jurisdiction.

About AVEO

AVEO Pharmaceuticals, Inc. (the “Company” or “AVEO”) is a
biopharmaceutical company seeking to advance targeted medicines for
oncology and other unmet medical needs. The Company is working to
develop and commercialize its lead candidate tivozanib in North America
as a treatment for advanced or metastatic renal cell carcinoma (“RCC”).
The Company has sublicensed tivozanib (FOTIVDA®) for oncological
indications in Europe and other territories outside of North America.
Tivozanib is approved in the European Union, as well as Norway and
Iceland, for the first-line treatment of adult patients with RCC and for
adult patients who are vascular endothelial growth factor receptor and
mTOR pathway inhibitor-naïve following disease progression after one
prior treatment with cytokine therapy for RCC. The Company also has
other product candidates in pre-clinical or clinical development for
oncology, age-related macular degeneration and cancer cachexia.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that involve
substantial risks and uncertainties. All statements, other than
statements of historical fact, contained in this press release are
forward-looking statements. The words “anticipate,” “believe,”
“estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “could,”
“should,” “would,” “seek,” “look forward,” “advance,” “goal,”
“strategy,” or the negative of these terms or other similar expressions,
are intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. These
forward-looking statements include, among others, statements relating to
AVEO’s plans to consummate its public offering and the intended use of
proceeds therefrom. Actual results may differ materially from those
projected or implied in these forward-looking statements. Factors that
may cause such a difference include, without limitation, risks and
uncertainties related to the satisfaction of customary closing
conditions related to the public offering and the impact of general
economic, industry or political conditions in the United States or
internationally. You should not place undue reliance on these
forward-looking statements. Additional risks and uncertainties relating
to the offering, AVEO and its business can be found under the caption
“Risk Factors” included in AVEO’s Annual Report on Form 10-K for the
period ended December 31, 2018, AVEO’s preliminary prospectus supplement
filed with the SEC on April 3, 2019, and other filings that AVEO may
make with the SEC in the future. Any forward-looking statements
contained in this press release speak only as of the date hereof, and
AVEO expressly disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events or


David Pitts, Argot Partners
(212) 600-1902

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