Allos Therapeutics to raise $99.4 million through sale of its common stock

Allos Therapeutics, Inc. (Nasdaq:ALTH) today announced the pricing of an underwritten public offering of 14,000,000 primary shares of its common stock at a public offering price of $7.10 per share. The gross proceeds from the sale of the shares, before underwriting discounts and commissions and other offering expenses, are expected to be approximately $99.4 million. The offering is expected to close on or about October 13, 2009, subject to customary closing conditions. Allos has also granted the underwriters a 30-day option to purchase up to an aggregate of 2,100,000 additional shares of common stock to cover over-allotments, if any. All of the shares in the offering are being sold by Allos.

Allos currently anticipates using the net proceeds of the offering primarily for activities relating to the commercialization of FOLOTYN™ (pralatrexate injection), preclinical research and clinical development of FOLOTYN, and for general corporate purposes.