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.
SOURCE Allos Therapeutics, Inc.
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Related links:
http://www.allos.com
CONTACT:
Jennifer Neiman, Manager, Corporate
Communications of Allos Therapeutics, +1-720-540-5227,
jneiman@allos.com
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