TESARO, Inc. Announces Exercise of Underwriters' Over-Allotment Option

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| Source: TESARO, Inc.

WALTHAM, Mass., July 24, 2012 (GLOBE NEWSWIRE) -- TESARO, Inc. (Nasdaq:TSRO) announced today that the underwriters of its initial public offering have partially exercised their over-allotment option for the purchase of an additional 430,183 shares of TESARO common stock. All of such shares were sold by TESARO at the initial public offering price of $13.50 per share, less underwriting discounts and commissions. The sale of the additional shares is expected to close on July 26, 2012, subject to customary closing conditions.

Citigroup, Morgan Stanley and Leerink Swann acted as joint book-running managers for the offering. BMO Capital Markets and Baird acted as co-managers for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on June 27, 2012. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.

Copies of the final prospectus relating to this offering may be obtained from: Citigroup, Attention: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, by email at batprospectusdept@citi.com and by phone at 1-800-831-9146; Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at prospectus@morganstanley.com or by phone at 1-866-718- 1649; or Leerink Swann, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, Massachusetts 02110, or by email at Syndicate@Leerink.com or by phone at 1-800-808-7525, Ext. 4814.

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 or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About TESARO

TESARO, Inc. is an oncology-focused biopharmaceutical company dedicated to improving the lives of cancer patients.

The TESARO, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13456

Richard Rodgers
Executive Vice President & CFO
+1.339.970.0903