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news.Allos Therapeutics has announced that it is offering to sell, subject to market and other conditions, nine million shares of newly issued common stock in an underwritten public offering.
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In connection with the offering, the company expects to grant the underwriters a 30-day option to purchase an additional 1.35 million shares of common stock from the company to cover over allotments.
The company plans to use the net proceeds from the financing primarily for clinical and preclinical research and development of its product candidates, manufacture of clinical trial material and pre-commercial scale-up activities for PDX, working capital and general corporate purposes.
Merrill Lynch & Co is acting as sole bookrunner for this offering. Banc of America Securities and Citigroup Global Markets are acting as co-lead managers.