WESTMINSTER, Colo., Nov. 5 /PRNewswire-FirstCall/ -- Allos Therapeutics, Inc. (Nasdaq: ALTH) today reported financial results for the third quarter of 2007. For the three months ended September 30, 2007, the Company reported a net loss of $9.3 million, or ($0.14) per share. This compares to a net loss of $8.1 million, or ($0.15) per share, for the third quarter of 2006. For the nine months ended September 30, 2007, the Company reported a net loss of $28.1 million, or ($0.43) per share, compared to a net loss of $22.1 million, or ($0.40) per share for the same period last year. For the nine months ended September 30, 2007, net cash used in operating activities was $22.5 million. Cash, cash equivalents and investments in marketable securities as of September 30, 2007 were $63.4 million.
"With five PDX trials ongoing and two additional studies scheduled to begin in the near term, we continue to make important progress advancing the development of PDX in hematologic malignancies and solid tumors," stated Paul L. Berns, President and Chief Executive Officer of Allos. "PROPEL, our pivotal Phase 2 trial of PDX in patients with relapsed or refractory peripheral T-cell lymphoma, is ahead of schedule with completion of patient enrollment expected in the second quarter of 2008. We look forward to providing future updates regarding PDX's clinical profile and potential commercial opportunities."
Pipeline Development Update:
PDX is a novel, small molecule chemotherapeutic agent that inhibits
dihydrofolate reductase, or DHFR, a folic acid (folate)-dependent enzyme
involved in the building of nucleic acid, or DNA, and other processes. PDX
is an investigational drug currently under evaluation
|SOURCE Allos Therapeutics, Inc.|
Copyright©2007 PR Newswire.
All rights reserved