Chemistry services provider, Array Biopharma, prices 6.5mm shares at $7.50

Array Biopharma, a provider of drug lead generation and optimization chemistry services to pharmaceutical and biotech firms for small-molecule drug discovery and seller of Optimer chemical "blocks", priced 6.5 million shares at $7.50, below its downwardly revised range of $8-$9. The company had originally planned to offer 6 million shares at $9-$11. This deal is lead managed by Lehman Brothers. The stock is expected to open for trading Friday.