AVEO Pharmaceuticals completes initial public offering of 9M common stock shares at $9.00 per share

AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO), a biopharmaceutical company focused on discovering, developing and commercializing cancer therapeutics, today announced the completion of its initial public offering of 9,000,000 shares of its common stock. All shares were sold at an initial public offering price of $9.00 per share, resulting in aggregate net proceeds to AVEO of approximately $72,580,000 after deducting underwriting discounts and commissions and estimated offering expenses. In addition, AVEO has granted the underwriters a 30-day option to purchase up to an additional 1,350,000 shares to cover over-allotments, if any.

J.P. Morgan Securities Inc. and Morgan Stanley & Co. Incorporated acted as joint book-running managers for the offering. Leerink Swann LLC acted as lead co-manager and Canaccord Adams Inc. acted as co-manager of the offering.