Allos Therapeutics Announces CEO Succession Plans
17 1월 2006 - 9:22AM
PR Newswire (US)
WESTMINSTER, Colo., Jan. 16 /PRNewswire-FirstCall/ -- Allos
Therapeutics, Inc. (NASDAQ:ALTH) today announced that President,
Chief Executive Officer and Chief Financial Officer Michael E.
Hart, has notified the Company's Board of Directors of his
intention to resign his positions once a successor CEO is named.
Mr. Hart will continue to serve as a member of the Board of
Directors and will remain in his current capacity while the Board
conducts a search for a successor. The Board has retained a
nationally recognized executive search firm to assist in the
recruitment of a successor. Mr. Hart joined Allos in 1999 and was
promoted to President and CEO in December 2001 and to the Board of
Directors in April 2002. Prior to his promotion he was Chief
Financial Officer and Senior Vice President, Operations. During Mr.
Hart's tenure, the Company received an approvable letter from the
FDA for its lead compound EFAPROXYN for the treatment of patients
with brain metastases originating from breast cancer, added PDX and
RH1 to its product portfolio and gained significant financial
strength through four successful stock offerings that collectively
generated $170 million, including the Company's IPO in March 2000.
"Leading the team at Allos has been a tremendous experience," said
Mr. Hart. "I am proud of the progress we've made over the past six
years and am optimistic about what lies ahead for the Company and
its product candidates. In the near term, I will continue my
responsibilities as CEO and CFO, with a particular focus on
ensuring an effective transition for the new CEO." "On behalf of
the Board of Directors and the employees of the Company, I want to
thank Mike for his leadership over the past six years and his
continuing role in the growing company he has helped shape," said
Stephen J. Hoffman, M.D., Ph.D., Chairman of the Board. "He leaves
the Company on solid financial footing and well-positioned for its
next phase of development. We anticipate no changes in the
Company's business strategy, development plans or timelines as a
result of this transition, and we remain committed to completing
our ongoing ENRICH trial as planned." About Allos Therapeutics,
Inc. Allos Therapeutics, Inc. (NASDAQ:ALTH) is a biopharmaceutical
company focused on developing and commercializing innovative small
molecule therapeutics for the treatment of cancer. The Company's
lead product candidate, EFAPROXYN(TM) (efaproxiral), is a synthetic
small molecule designed to sensitize hypoxic, or oxygen-deprived,
tumor tissue during radiation therapy. EFAPROXYN is currently being
evaluated as an adjunct to whole brain radiation therapy in a
pivotal Phase 3 trial in women with brain metastases originating
from breast cancer. The Company's other product candidates are: PDX
(pralatrexate), a small molecule chemotherapeutic agent (DHFR
inhibitor) currently under investigation as both a single agent and
in combination therapy regimens in patients with non-small cell
lung cancer and Non-Hodgkin's lymphoma; and RH1, a small molecule
chemotherapeutic agent bioactivated by the enzyme DT-diaphorase
currently under evaluation in patients with advanced solid tumors.
For more information, please visit the Company's web site at:
http://www.allos.com/. Safe Harbor Statement This press release
contains forward-looking statements that are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements include statements
concerning the Company's business strategy, development plans and
timelines, and other statements which are other than statements of
historical facts. In some cases, you can identify forward-looking
statements by terminology such as "may," "will," "should,"
"expects," "intends," "plans," anticipates," "believes,"
"estimates," "predicts," "projects," "potential," "continue," and
other similar terminology or the negative of these terms, but their
absence does not mean that a particular statement is not
forward-looking. Such forward-looking statements are not guarantees
of future performance and are subject to risks and uncertainties
that may cause actual results to differ materially from those
anticipated by the forward-looking statements. These risks and
uncertainties include, among others: that we may experience
difficulties or delays in our clinical trials, whether caused by
adverse events, investigative site initiation rates, patient
enrollment rates, regulatory issues or other factors; and that
clinical trials may not demonstrate the safety and efficacy of our
product candidates in their target indications. Additional
information concerning these and other factors that may cause
actual results to differ materially from those anticipated in the
forward-looking statements is contained in the "Risk Factors"
section of the Company's Annual Report on Form 10-K for the year
ended December 31, 2004, and in the Company's other periodic
reports and filings with the Securities and Exchange Commission.
The Company cautions investors not to place undue reliance on the
forward-looking statements contained in this press release. All
forward-looking statements are based on information currently
available to the Company on the date hereof, and the Company
undertakes no obligation to revise or update these forward-looking
statements to reflect events or circumstances after the date of
this presentation, except as required by law. Note: EFAPROXYNTM and
the Allos logo are trademarks of Allos Therapeutics, Inc. First
Call Analyst: FCMN Contact: jneiman@allos.com DATASOURCE: Allos
Therapeutics, Inc. CONTACT: Jennifer Neiman, Manager, Corporate
Communications of Allos Therapeutics, +1-720-540-5227, Web site:
http://www.allos.com/
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Allos Therapeutics, Inc. (MM) (NASDAQ:ALTH)
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