Underwriters exercise over-allotment option to purchase additional 968,539 shares of AVEO Pharmaceuticals

AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO), a biopharmaceutical company focused on discovering, developing and commercializing cancer therapeutics, today announced that the underwriters of its recently completed initial public offering of common stock have exercised their option to purchase an additional 968,539 shares of common stock to cover over-allotments. The sale of the additional shares is anticipated to close on April 6, 2010. Including proceeds from the sale of the additional shares, the aggregate net proceeds to AVEO from the initial public offering, after deducting underwriting discounts and commissions and estimated offering expenses, are approximately $80.7 million.