WALTHAM, Mass., March 28 /PRNewswire-FirstCall/ --
AltaRex Corp. (AXO.TO, ALXFF.OTC) reported today that it continues to pursue
various financing alternatives in order to provide the Company with sufficient
capital resources to fund its operations in the near-term. AltaRex estimates
that its available cash, cash equivalents, and short-term investments and
interest earned thereon should be sufficient to finance its operations over
approximately the next month as the Company continues to engage in discussions
regarding potential partnering or other transactions.
In addition, the Company is considering several strategic alternatives,
including a restructuring of its operations, if necessary, in order to manage
current cash resources. There can be no assurance that these actions will
ultimately be successful in effectively reducing expenses, although the
Company believes that there remains a range of options to pursue in order to
assure that the OvaRex(R) opportunity is not lost for cancer patients.
For more information about the Company, please visit the AltaRex website
at http://www.altarex.com.
This news release contains forward-looking statements that involve risks
and uncertainties, which may cause actual results to differ materially from
the statements made. For this purpose, any statements that are contained
herein that are not statements of historical fact may be deemed to be
forward-looking statements. Without limiting the foregoing, the words
"believes," "anticipates," "plans," "intends," "expects" and similar
expressions are intended to identify forward-looking statements. Such risks
and uncertainties include, but are not limited to our need for capital and the
risk that the Company can not raise funds on a timely basis on satisfactory
terms or at all, the need to obtain corporate alliances and the risk that the
Company cannot establish corporate alliances on a timely basis, on
satisfactory terms, or at all, changing market conditions, uncertainties
regarding the timely and successful completion of clinical trials, patient
enrollment rates, uncertainty of pre-clinical, retrospective, early and
interim clinical trial results, which may not be indicative of results that
will be obtained in ongoing or future clinical trials, whether the Company
will file for regulatory approval on a timely basis, uncertainties as to when,
if at all, the FDA will accept or approve the Company's regulatory filings for
its products, the need to establish and scale-up manufacturing processes,
uncertainty as to the timely development and market acceptance of the
Company's products, uncertainty as to whether patents will issue from pending
patent applications and, if issued, as to whether such patents will be
sufficiently broad to protect the Company's technology, and other risks
detailed from time-to-time in the Company's filings with the United States
Securities and Exchange Commission and Canadian securities authorities. The
Company does not assume any obligation to update any forward-looking
statement.
THE TORONTO STOCK EXCHANGE HAS NOT APPROVED OR DISAPPROVED OF THE
INFORMATION CONTAINED HEREIN
SOURCE AltaRex Corp.
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Related links:
http://www.altarex.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840
Company News On-Call:
http://www.prnewswire.com/comp/128163.html
CONTACT:
Peter Gonze, Operations-Investor Relations,
+1-781-672-0138, ext. 1503, pgonze@altarex.com, or Sondra
Henrichon, Investor Relations, +1-781-672-0138, ext. 1510,
shenrichon@altarex.com, both of AltaRex Corp.
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