Allos Therapeutics Reports First Quarter 2006 Financial Results
09 5월 2006 - 9:00PM
PR Newswire (US)
WESTMINSTER, Colo., May 9 /PRNewswire-FirstCall/ -- Allos
Therapeutics, Inc. (NASDAQ:ALTH) today reported financial results
for the first quarter of 2006. For the three months ended March 31,
2006, the Company reported a net loss of $7.1 million, or ($0.13)
per share. This compares to a net loss of $5.1 million, or ($0.16)
per share, for the first quarter of 2005. Cash, cash equivalents,
and investments in marketable securities as of March 31, 2006 were
$50.3 million. Paul L. Berns, President and Chief Executive
Officer, stated: "During the quarter we continued to meet patient
recruitment goals for our pivotal Phase 3 ENRICH trial, which
positions us to reach target enrollment for the study by year end.
We also continued to build upon our clinical experience with PDX in
patients with non-Hodgkin's lymphoma and Hodgkin's disease and
anticipate initiating a Phase 2 multi-center study of PDX in
patients with peripheral T-cell lymphoma in the third quarter of
this year. The progress made during the quarter in advancing our
product development programs reflects the outstanding efforts of
our employees and clinical collaborators and their commitment to
patients." Product Portfolio Update: EFAPROXYN(TM) (efaproxiral): *
Enrollment in ENRICH, the Company's Phase 3 study of EFAPROXYN(TM)
(efaproxiral) in patients with brain metastases originating from
breast cancer, continues to progress in line with Company
expectations. In April, the Company announced that an independent
data monitoring committee (DMC) completed a planned interim
analysis of the study's primary endpoint (survival), found no major
patient safety concerns and recommended that the trial continue per
the protocol. The DMC will conduct a second planned interim
analysis of safety and efficacy data following the occurrence of
188 patient deaths, which is currently expected to occur in the
second half of 2006. The Company will conduct the final analysis of
safety and efficacy data following the occurrence of 282 patient
deaths, which is currently expected to occur in the first half of
2007. If the trial results are positive at either the second
interim or final analysis the Company will submit an amendment to
its previously filed new drug application to seek marketing
approval for EFAPROXYN for use as an adjunct to radiation therapy
for the treatment of brain metastases originating from breast
cancer. * The Company is currently enrolling patients in two other
clinical trials with EFAPROXYN: a Phase 1 study of patients with
locally advanced non-small cell lung cancer receiving concurrent
chemoradiotherapy in combination with EFAPROXYN and a Phase 1b/2
clinical trial of EFAPROXYN in patients with locally advanced
cancer of the cervix receiving concurrent chemoradiotherapy. *
Brian D. Kavanagh, M.D., Vice-Chair, Associate Professor,
Department of Radiation Oncology, University of Colorado Health
Sciences Center is scheduled to present a poster presentation
titled "The influence of efaproxiral on breast cancer xenograft
hypoxia and HIF-1-alpha expression" at the American Society of
Clinical Oncology Annual Meeting on June 5, 2006. PDX
(pralatrexate): * The Phase 2 portion of the Company's Phase 1/2
single-agent study of PDX in patients with relapsed or refractory
non-Hodgkin's lymphoma and Hodgkin's disease is currently on-going
at Memorial Sloan-Kettering Cancer Center. Based on interim results
from the Phase 1 portion of this study, the Company plans to
initiate a Phase 2, open-label, multi-center study of PDX in
patients with relapsed or refractory peripheral T-cell lymphoma in
the third quarter of this year. * A Phase 1 dose escalation study
of PDX in patients with relapsed or refractory non-small cell lung
cancer is currently on-going at Memorial Sloan-Kettering Cancer
Center. RH1: * A Phase 1 dose escalation study in patients with
advanced solid tumors is currently on-going at two cancer centers
in the U.K. Corporate events: * In March 2006, the Company
announced the appointment of Paul L. Berns as the Company's
President, Chief Executive Officer and a member of the Board of
Directors. With Mr. Berns' appointment, David C. Clark, the
Company's Corporate Controller and Treasurer, was appointed to
serve as the Company's Principal Financial Officer. Conference Call
The Company will host a conference call to review its first quarter
results on Tuesday, May 9, 2006, at 11:00 AM ET. The dial in number
for U.S. residents to participate is 877-407-8031. International
callers should dial 201-689-8031. Participants should reference the
Allos Therapeutics conference call. Conference Call Replay An audio
replay of the conference call will be available from 2:00 PM ET on
Tuesday, May 9, 2006, until 11:59 PM ET on Friday, May 19, 2006. To
access the replay, please dial 877-660-6853 (domestic) or
201-612-7415 (international); Replay pass codes (both required for
playback): account # 286; conference ID # 199888. Webcast The
Company will also hold a live web cast of the conference call. The
webcast will be available from the homepage and the investors/media
section of the Company's web site at http://www.allos.com/ and will
be archived for 30 days. 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 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 projected timelines relating to
the ENRICH trial, the potential safety and efficacy of EFAPROXYN
for the treatment of patients with brain metastases originating
from breast cancer, the Company's projected timeline for initiating
the Phase 2 trial of PDX in patients with relapsed or refractory
peripheral T-cell lympoma 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 the Company may
experience difficulties or delays in the initiation, progress or
completion of its clinical trials, including the ENRICH trial,
whether caused by competition, adverse events, investigative site
initiation rates, patient enrollment rates, regulatory issues or
other factors; and that the Company's clinical trials, including
the ENRICH trial, may not demonstrate the safety and efficacy of
the Company's product candidates in their target indications. Even
if the ENRICH trial demonstrates the safety and efficacy of
EFAPROXYN, regulatory authorities may not approve EFAPROXYN for the
treatment of brain metastases originating from breast cancer, the
Company may not be able to successfully market EFAPROXYN, or the
Company may face post-approval problems that require the withdrawal
of EFAPROXYN from the market. 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, 2005, 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. ALLOS THERAPEUTICS, INC. CONDENSED STATEMENTS OF
OPERATIONS (in thousands ~ except share and per share information)
(unaudited) Three Months Ended March 31, 2005 2006 Operating
expenses: Research and development $2,348 $3,440 Clinical
manufacturing 360 561 Marketing, general and administrative 2,193
2,926 Restructuring and separation costs 380 646 Total operating
expenses 5,281 7,573 Loss from operations (5,281) (7,573) Interest
and other income, net 209 504 Net loss $(5,072) $(7,069) Net loss
per share: basic and diluted $(0.16) $(0.13) Weighted average
common shares: Basic and diluted 31,175,783 55,079,180 ALLOS
THERAPEUTICS, INC. CONDENSED BALANCE SHEETS (in thousands)
(unaudited) December 31, March 31, 2005 2006 ASSETS Cash, cash
equivalents and investments in marketable securities $55,282
$50,262 Other assets 1,111 1,164 Property and equipment, net 688
679 Total assets $57,081 $52,105 Liabilities and Stockholders'
Equity Current liabilities $3,790 $5,400 Stockholders' equity
53,291 46,705 Total liabilities and stockholders' equity $57,081
$52,105 DATASOURCE: Allos Therapeutics, Inc. CONTACT: Jennifer
Neiman, Manager, Corporate Communications of Allos Therapeutics,
Inc., +1-720-540-5227, Web site: http://www.allos.com/
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Allos Therapeutics, Inc. (MM) (NASDAQ:ALTH)
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