ArQule raises $52.2M in bumped-up follow-on

ArQule Inc. (NASDAQ:ARQL) raised $52.2 million through the sale of 7.2 million shares at $7.30 in a bumped-up follow-on underwritten by Citi; Leerink; Lazard; RBC Capital Markets; and Oppenheimer. ArQule proposed to sell 7 million shares on Tuesday. The stock closed at $8.18 on Monday. ArQule was up $0.41 to $7.87 on Wednesday. ...