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news.Allos Therapeutics, a biopharmaceutical company, has announced the pricing of an underwritten public offering of 7.75 million shares of its common stock. The company expects the offering to close on or about April 3, 2009, subject to customary closing conditions.
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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. UBS Investment Bank is the sole manager for the offering.
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.