Array BioPharma Inc. Files Shelf Registration Statement

BOULDER, Colo.--(BUSINESS WIRE)--Oct. 6, 2006--

Array BioPharma Inc. (NASDAQ: ARRY) today announced that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC).
The shelf registration statement, when declared effective by the SEC, will allow the company to raise up to $150 million through the sale of securities, which may consist of common stock, preferred stock, depositary shares and/or warrants, in one or more offerings in the future. Specific terms and prices will be determined at the time of any offering and included in a prospectus supplement to be filed with the SEC relating to that offering.

A registration statement relating to the securities listed in the shelf registration has been filed with the SEC, but has not yet become effective. These securities may not be sold, nor may offers to buy such securities be accepted, prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Any offer of these securities will be made solely by means of the prospectus included in the registration statement and the prospectus supplement relating to that offering.

A written prospectus, when available, meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from the company at 3200 Walnut Street, Boulder, Colorado 80301, Attention: Investor Relations, or by calling 303-381-6600.

About Array BioPharma:

Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat life threatening and debilitating diseases. Our proprietary drug development pipeline is focused on the treatment of cancer and inflammatory disease and includes clinical candidates that are designed to regulate therapeutically important targets. In addition, leading pharmaceutical and biotechnology companies collaborate with Array to discover and develop drug candidates across a broad range of therapeutic areas. For more information on Array, please go to www.arraybiopharma.com.

Forward-Looking Statement:

This press release contains certain forward-looking statements that involve risks and uncertainties, including statements regarding the sale of securities under the shelf registration statement. Such statements are only predictions. Actual results could differ materially from these statements and the company may be unable to complete any sale of securities under the shelf registration statement due to a number of factors. These factors include unfavorable market conditions and other risk factors that are more fully discussed in the company's periodic reports and other filings with the SEC.

CONTACT: Array BioPharma Inc.
Tricia Haugeto, 303-386-1193
thaugeto@arraybiopharma.com

SOURCE: Array BioPharma Inc.