WESTMINSTER, Colo., Oct. 21 /PRNewswire-FirstCall/ -- Allos Therapeutics,
Inc. (Nasdaq: ALTH) today announced that the only remaining securities class
action lawsuit that had been brought against the company and one of its
officers in May 2004 has been dismissed with prejudice. In an opinion dated
October 20, 2005, the United States District Court for the District of
Colorado concluded that the plaintiff's complaint failed to meet the legal
pleading requirements applicable to its alleged claims. The plaintiff has 30
days to determine whether it will appeal the decision to the U.S. Court of
Appeals for the Tenth Circuit.
"We are extremely pleased with the result," said Marc H. Graboyes, Vice
President, General Counsel of Allos. "We have always believed that the
plaintiff's case lacked merit, and we are gratified that the court agreed. We
are excited to put this behind us and continue moving forward with our
on-going clinical trials and product development efforts."
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. Allos' lead product candidate,
EFAPROXYN, 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. Allos' other product candidates are: PDX (pralatrexate), a small
molecule chemotherapeutic agent (DHFR inhibitor) currently under investigation
as both a single agent and in combination therapy regimens 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, 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, Inc., +1-720-540-5227,
jneiman@allos.com
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