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news.Allos Therapeutics, a biopharmaceutical company, has closed its previously reported underwritten public offering of 7.75 million shares of its common stock at the public offering price of $6.30 per share. The company received net proceeds from the offering of approximately $46.8 million, after deducting underwriting commissions and estimated offering expenses.
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The company plans to use the net proceeds from the offering primarily for activities relating to preparations for the potential commercial launch of pralatrexate, clinical and preclinical R&D of pralatrexate, working capital and general corporate purposes.
UBS Investment Bank was the sole manager for the offering. The company has granted the underwriter a 30-day option to purchase up to an additional 1.16 million shares to cover over-allotments, if any.