Loxo Oncology Announces Proposed Public Offering

6/14/17

STAMFORD, Conn., June 13, 2017 (GLOBE NEWSWIRE) -- Loxo Oncology, Inc. (Nasdaq:LOXO), a biopharmaceutical company innovating the development of highly selective medicines for patients with genetically defined cancers, announced today that it intends to offer shares of its common stock in an underwritten public offering. Loxo Oncology also expects to grant the underwriters a 30-day option to purchase additional shares of its common stock offered in the public offering at the public offering price less the underwriting discounts and commissions. All of the shares will be offered and sold by Loxo Oncology.

Morgan Stanley, Cowen and Citigroup are acting as joint book-running managers for the offering. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Loxo Oncology intends to use the net proceeds from this offering for early commercialization activities for larotrectinib, new and ongoing research and development activities, including those related to LOXO-195 and LOXO-292, and general corporate purposes, which may include increased working capital, acquisitions or investments in businesses, products or technologies, and capital expenditures.

About Loxo Oncology
Loxo Oncology is a biopharmaceutical company innovating the development of highly selective medicines for patients with genetically defined cancers. Our pipeline focuses on cancers that are uniquely dependent on single gene abnormalities, such that a single drug has the potential to treat the cancer with dramatic effect. We believe that the most selective, purpose-built medicines have the highest probability of maximally inhibiting the intended target, thereby delivering best-in-class disease control and safety. Our management team seeks out experienced industry partners, world-class scientific advisors and innovative clinical-regulatory approaches to deliver new cancer therapies to patients as quickly and efficiently as possible.

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