Array BioPharma Inc. (NASDAQ:ARRY) Files An 8-K Entry into a Material Definitive AgreementItem 2.02
On August 7, 2017, Array entered into a First Amendment to Subordinated Convertible Promissory Notes (the “Amendment”) amending the Subordinated Convertible Promissory Notes dated November 1, 2015 in the aggregate principal amount of $10 million (the "Notes") issued to Redmile Biopharma Investments I, L.P. and to Redmile Capital Offshore Fund II, Ltd. The Amendment extended the maturity date under the Notes to August 6, 2018 and increased the exit fee payable upon repayment in cash of the Notes to 50% of the original principal amount of the Notes. No other terms of the Notes were modified by the amendment. The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by the full Amendment, a copy of which is filed as an exhibit to this Current Report on Form 8-K.
| Item 2.02 | Results of Operations and Financial Condition. |
On August 9, 2017, Array BioPharma Inc. issued a press release reporting results for the fourth quarter and full year of fiscal year ending June 30, 2017, the full text of which is attached hereto as Exhibit 99.1. The information in Item 2.02 of this Form 8-K and the exhibit attached hereto shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
| Item 2.02 | Financial Statements and Exhibits. |
| ExhibitNo. | Description |
| 10.1 | First Amendment to Subordinated Convertible Promissory Notes dated August 7, 2017 by and between Array BioPharma Inc. and Redmile Biopharma Investments I, L.P. and Redmile Capital Offshore Fund II, Ltd. |
| 99.1 | Press release dated August 9, 2017 entitled “Array BioPharma Reports Financial Results for the Fourth Quarter and Full Year of Fiscal 2017” |
ARRAY BIOPHARMA INC ExhibitEX-10.1 2 v472777_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 Execution Copy ARRAY BIOPHARMA INC. FIRST AMENDMENT TO SUBORDINATED CONVERTIBLE PROMISSORY NOTES This First Amendment to Subordinated Convertible Promissory Notes (this “Amendment”) is entered into as of August 7,…To view the full exhibit click here
About Array BioPharma Inc. (NASDAQ:ARRY)
Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Company’s programs include approximately three cancer drugs, binimetinib, encorafenib and selumetinib (partnered with AstraZeneca, PLC). Its binimetinib and encorafenib are in Phase III trials in advanced cancer patients, including the COLUMBUS trial studying encorafenib in combination with binimetinib in patients with BRAF-mutant melanoma and has initiated BEACON CRC trial to study encorafenib in combination with binimetinib and cetuximab in patients with BRAF V600E-mutant colorectal cancer (BRAFm CRC). Its selumetinib is a mitogen-activated protein kinase (MEK) inhibitor for cancer, which is in Phase III trial. Its advanced clinical-stage drugs include Filanesib, ARRY-797, ASC08/Danoprevir, Ipatasertib/GDC-0068, Motolimod/VTX-2337, LOXO-101, ONT-380/ARRY-380, GDC-0575, GDC-0994 and ARRY-382.
