Allos Therapeutics Announces Pricing of Public Offering of 10,800,000 Shares of Common Stock
23 May 2008 - 8:34PM
Business Wire
Allos Therapeutics, Inc. (Nasdaq:ALTH) announced the pricing of an
underwritten public offering of 10,800,000 shares of newly issued
common stock at a public offering price of $5.64 per share. The
closing of the offering is expected to take place on May 29, 2008,
subject to the satisfaction of customary closing conditions. The
Company has granted the underwriters a 30-day option to purchase an
additional 1,620,000 shares of common stock from the Company to
cover overallotments, if any. The Company expects to receive net
proceeds from the offering of approximately $56.6 million, after
deducting underwriting commissions and estimated offering expenses.
The Company plans to use the net proceeds from the financing
primarily for clinical and preclinical research and development of
its product candidates, manufacture of clinical trial material and
pre-commercial scale-up activities for PDX, working capital and
general corporate purposes. Merrill Lynch & Co. is acting as
sole bookrunner for this offering. Banc of America Securities LLC
and Citigroup Global Markets Inc. are acting as co-lead managers.
Information about the offering is available in the prospectus
supplement filed with the Securities and Exchange Commission.
Copies of the prospectus supplement may be obtained from Merrill
Lynch & Co., by mail at Merrill Lynch's prospectus department
at 4 World Financial Center, New York, NY 10080. A registration
statement relating to these shares was declared effective by the
Securities and Exchange Commission on June 5, 2007. Any offer or
sale will be made only by means of a written prospectus supplement
forming part of the effective registration statement. 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 is a biopharmaceutical company focused on developing
and commercializing small molecule therapeutics for the treatment
of cancer.�The Company's lead product candidate, PDX
(pralatrexate), is a novel antifolate currently under evaluation in
a pivotal Phase 2 (PROPEL) trial in patients with relapsed or
refractory peripheral T-cell lymphoma. The PROPEL trial is being
conducted under an agreement reached with the U.S. Food and Drug
Administration under its special protocol assessment, or SPA,
process. The Company is also investigating PDX in patients with
non-small cell lung cancer and a range of lymphoma sub-types. The
Company's other product candidate�is RH1, a targeted
chemotherapeutic agent currently being evaluated in a Phase 1 trial
in patients with advanced solid tumors or non-Hodgkin�s lymphoma
(NHL). For additional information, please visit the Company�s
website at 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 completion of the proposed 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 financing
may be delayed or may not occur due to market or other conditions
and 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, 2007, the
Company's other periodic reports and filings with the SEC and the
prospectus supplement related to the proposed offering. 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.
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