WALTHAM, Mass., Nov. 22 /PRNewswire/ -- AltaRex Corp.
(Toronto: AXO, OTC: ALRXF) announced today that its previously announced one-
for-four share consolidation will become effective on Monday, November 27,
2000. On that date, common shares of the Company will begin trading on a
post-consolidation basis.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO)
The Company will mail to shareholders a Letter of Transmittal which will
set out the detail of steps to be taken regarding the exchange of pre-
consolidation share certificates for post-consolidation share certificates.
In order to receive certificates representing post-consolidation shares,
shareholders will be required to properly complete the Letter of Transmittal
and return it and certificates representing the holder's pre-consolidation
shares to Montreal Trust Company of Canada, the Company's transfer agent, at
the address set out in the Letter of Transmittal.
AltaRex Corp. is focused exclusively on the research, development and
commercialization of antibody-based immunotherapeutic products to prolong life
and reduce the suffering associated with late-stage cancers. Data from
clinical studies suggest that through multiple mechanisms, AltaRex's
proprietary platform technology enhances the ability of the human immune
system to produce an anti-tumor response. The Company has five antibody-based
products in various stages of development. Its most advanced product is
OvaRex(TM) MAb, in late-stage clinical development for the treatment of
ovarian cancer.
Additional information about AltaRex research and development, news and
events can be found on its web site at http://www.altarex.com. Clinical information
can also be found on the CenterWatch web site at http://www.centerwatch.com.
Additional information about ovarian cancer can be found at http://www.nci.nih.gov,
http://www.ovariancanada.org and at http://www.ovarian.org.
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,
changing market conditions, completion of clinical trials, patient enrollment
rates, uncertainty of pre-clinical, retrospective and early clinical trial
results, such as the results described above which may not be indicative of
results that will be obtained in ongoing or future clinical trials, the
establishment of manufacturing processes and new corporate alliances, the
timely development, regulatory approval 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 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 201-369-3467
Company News On-Call:
http://www.prnewswire.com/comp/128163.html or fax,
800-758-5804, ext. 128163
CONTACT:
Edward M. Fitzgerald, Senior Vice President
and Chief Financial Officer of AltaRex Corp., 781-672-0138, ext.
5104, efitzgerald@altarex.com, or Wayne Hendry, Investor
Relations of The Equicom Group, Inc, 416-815-0700 ext. 238,
whendry@equicomgroup.com
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