Item 1.01. Entry into a Material Definitive Agreement.

On August 10, 2009, Array BioPharma Inc. ("Array") and Comerica Bank signed a binding commitment letter to extend the maturity date under the Loan and Security Agreement between Array and Comerica Bank dated June 28, 2005, as amended, by 120 days to October 26, 2010. Array and Comerica Bank will enter into a definitive amendment to the Loan and Security Agreement further evidencing the extension of such maturity date.

On August 13, 2009, Array entered into a letter agreement with Deerfield Private Design Fund, L.P. and Deerfield Private Design International, L.P., healthcare investment funds (collectively, the "Deerfield Funds"), amending the Facility Agreement dated as of May 14, 2009 between Array and the Deerfield Funds. The letter agreement extended the date on which payment of interest is due for August 2009 from September 1, 2009 to September 15, 2009, and modified the date on which certain covenants are first applicable to the Deerfield Funds relating to the share repayment provisions of the Facility Agreement.

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