TESARO Announces Definitive Agreement for $155 Million Private Placement

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Go back to TESARO Announces Definitive Agreement for $155 Million Private Placement

TESARO (TSRO) Misses Q4 EPS Views; Announces 4.4M Share Private Placement

February 25, 2016 4:09 PM EST

TESARO (NASDAQ: TSRO) reported Q4 EPS of ($1.89), $0.26 worse than the analyst estimate of ($1.63).

The company also announced that it has entered into definitive agreements with institutional investors to sell 4.4 million shares of its common stock at $35.19 per share in a private placement, resulting in proceeds of $155 million. The offering price per share of $35.19 is based upon the volume weighted average price of TESAROs common stock for the ten consecutive trading days ending February 22, 2016.

Existing investors affiliated with InterWest Partners, Kleiner Perkins Caufield and... More