Allos Therapeutics Announces Closing of Common Stock Offering
03 February 2007 - 3:01AM
PR Newswire (US)
WESTMINSTER, Colo., Feb. 2 /PRNewswire-FirstCall/ -- Allos
Therapeutics, Inc. (NASDAQ:ALTH) today announced the closing of its
previously announced underwritten offering of 9,000,000 shares of
its common stock at a price of $6.00 per share. The company
received net proceeds from the offering of approximately $50.5
million, after deducting underwriting commissions and offering
expenses. 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. acted as the
sole book-runner and lead manager in this underwritten offering.
Banc of America Securities LLC acted as a co-lead manager. JMP
Securities, LLC acted as co-manager. A shelf registration statement
relating to these securities was filed with the Securities and
Exchange Commission (SEC) and has become effective. 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 use of proceeds from this offering, 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
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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