Allos Therapeutics Announces Pricing of Underwritten Offering of 9,000,000 Shares of Common Stock
30 January 2007 - 10:00PM
PR Newswire (US)
WESTMINSTER, Colo., Jan. 30 /PRNewswire-FirstCall/ -- Allos
Therapeutics, Inc. (NASDAQ:ALTH) announced today that it has agreed
to sell 9,000,000 shares of its common stock in an underwritten
offering at a price of $6.00 per share. The company expects to
receive net proceeds from the offering of approximately $50.5
million, after deducting underwriting commissions and offering
expenses. The closing of the offering is expected to take place on
or about February 2, 2007, subject to the satisfaction of customary
closing conditions. The company plans to use the proceeds from the
financing primarily for clinical and preclinical research and
development of its product candidates, with a primary focus on PDX,
manufacturing of preclinical and clinical drug supply, working
capital and general corporate purposes. Merrill Lynch & Co. is
acting as the sole book-runner and lead manager in this
underwritten offering. Banc of America Securities LLC is acting as
a co-lead manager. JMP Securities, LLC is acting as co-manager. A
shelf registration statement relating to these securities was filed
with the Securities and Exchange Commission (SEC) and has become
effective. This offering is being conducted pursuant to a
prospectus supplement to the prospectus contained in the shelf
registration statement. Information about the offering is available
in the prospectus supplement and the accompanying prospectus for
the offering filed with the SEC. Copies of the final prospectus
supplement and accompanying prospectus may be obtained from Merrill
Lynch & Co., by mail at Merrill Lynch's prospectus department
at 4 World Financial Center, New York, NY 10080. This press release
does not and shall not constitute an offer to sell or the
solicitation of an offer to buy the Company's common stock, nor
shall there be any sale of the common stock in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any state. About Allos Therapeutics, Inc. Allos
Therapeutics, Inc. (ALTH) is a biopharmaceutical company focused on
the development and commercialization of small molecule
therapeutics for the treatment of cancer. The Company has two
product candidates in late-stage clinical development: EFAPROXYN
(efaproxiral), a radiation sensitizer currently under evaluation in
a pivotal Phase 3 trial in women with brain metastases originating
from breast cancer, and PDX (pralatrexate), a novel, next
generation antifolate currently under evaluation in a pivotal Phase
2 trial in patients with relapsed or refractory peripheral T-cell
lymphoma. The Company is also evaluating RH1, a targeted
chemotherapeutic agent, in a Phase 1 trial in patients with
advanced solid tumors. For additional information, please visit the
Company's website at http://www.allos.com/. Safe Harbor Statement
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements include statements concerning the anticipated date of
closing of the financing, the potential to complete our ongoing
development programs with the proceeds of the financing, and other
statements which are other than statements of historical facts. In
some cases, you can identify forward-looking statements by
terminology such as "may," "will," "should," "expects," "intends,"
"plans," anticipates," "believes," "estimates," "predicts,"
"projects," "potential," "continue," and other similar terminology
or the negative of these terms, but their absence does not mean
that a particular statement is not forward-looking. Such
forward-looking statements are not guarantees of future performance
and are subject to risks and uncertainties that may cause actual
results to differ materially from those anticipated by the
forward-looking statements. These risks and uncertainties include,
among others: the risk that the closing of the financing may be
delayed or may not occur due to the failure to timely satisfy one
or more conditions to closing; the risk that additional capital may
be required in the future to complete on-going trials. Additional
information concerning these and other factors that may cause
actual results to differ materially from those anticipated in the
forward-looking statements is contained in the "Risk Factors"
section of the Company's Annual Report on Form 10-K for the year
ended December 31, 2005, and in the Company's other periodic
reports and filings with the SEC. The Company cautions investors
not to place undue reliance on the forward-looking statements
contained in this press release. All forward-looking statements are
based on information currently available to the Company on the date
hereof, and the Company undertakes no obligation to revise or
update these forward-looking statements to reflect events or
circumstances after the date of this presentation, except as
required by law. Note: EFAPROXYN(TM) and the Allos logo are
trademarks of Allos Therapeutics, Inc. DATASOURCE: Allos
Therapeutics, Inc. CONTACT: Jennifer Neiman, Manager, Corporate
Communications of Allos Therapeutics, +1-720-540-5227, Web site:
http://www.allos.com/
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