WESTMINSTER, Colo., May 25 /PRNewswire-FirstCall/ -- Allos
Therapeutics, Inc. (Nasdaq: ALTH) is disclosing the following information
about a grant of restricted stock awarded to Paul L. Berns as an inducement
to his entering into employment with the Company, in press release form, as
required by NASD Marketplace Rule 4350(i)(1)(A).
As an inducement for Mr. Berns to join the Company as its President and
Chief Executive Officer, on the first date of his employment with the
Company, March 9, 2006, Mr. Berns was granted 300,000 shares of restricted
stock of the Company (the "Restricted Stock"). The Restricted Stock vests
over a four-year period, with 25% of the Restricted Stock vesting on each
of the first four anniversaries of the date of grant, subject to Mr. Berns'
continued employment with the Company through such vesting dates.
All of the above information, as well as additional information
regarding Mr. Berns' employment agreement with the Company, is contained in
a Form 8-K that was filed with the Securities and Exchange Commission on
March 14, 2006.
About Allos Therapeutics, Inc.
Allos Therapeutics, Inc. (Nasdaq: ALTH) is a biopharmaceutical company
focused on developing and commercializing innovative small molecule
therapeutics for the treatment of cancer. The Company's lead product
candidate, EFAPROXYN(TM) (efaproxiral), is a synthetic small molecule
designed to sensitize hypoxic, or oxygen-deprived, tumor tissue during
radiation therapy. EFAPROXYN is currently being evaluated as an adjunct to
whole brain radiation therapy in a pivotal Phase 3 trial in women with
brain metastases originating from breast cancer. The Company's other
product candidates are: PDX (pralatrexate), a small molecule
chemotherapeutic agent (DHFR inhibitor) currently under investigation in
patients with non-small cell lung cancer and Non-Hodgkin's lymphoma; and
RH1, a small molecule chemotherapeutic agent bioactivated by the enzyme
DT-diaphorase currently under evaluation in patients with advanced solid
tumors. For more information, please visit the Company's web site at:
http://www.allos.com.
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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