WALTHAM, Mass., June 18 /PRNewswire-FirstCall/ --
AltaRex Corp. (TSE: AXO, OTC: ALXFF.PK) announced today that, in light of the
recent events involving the Company's auditors, Arthur Andersen LLP, AltaRex's
Board of Directors and management are actively evaluating and interviewing
other qualified auditing firms to replace Arthur Andersen. In order to ensure
an orderly transition, the Company expects that Arthur Andersen will continue
to act as the Company's auditors until such time as the Board makes such a
determination.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO )
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; the risk that the
Company can not raise funds on a timely basis on satisfactory terms or at all;
the need to obtain and maintain corporate alliances, such as the alliance with
United Therapeutics, 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 and 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 and/or its collaborators will file for regulatory
approval on a timely basis; uncertainties as to when, if at all, the FDA will
accept or approve regulatory filings for the Company's products; the need to
establish and scale-up manufacturing processes, uncertainty as to the timely
development and market acceptance of the Company's products; the risk that the
claims allowed under any issued patent owned or licensed by the Company will
not be sufficiently broad to protect the Company's technology, that any
patents issued to the Company will not be sustained if challenged in court
proceedings or otherwise or that third parties will be able to develop
products or processes that do not infringe valid patents owned or licensed by
the Company, 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
Contacts:
Robert A. Newman
Vice President, Business Operations
(781) 672-0138
investor@altarex.com
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:
Robert A. Newman, Vice President, Business
Operations of AltaRex Corp., +1-781-672-0138,
investor@altarex.com
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