Allos Therapeutics Completes $12 Million Private Placement

Allos Therapeutics Completes $12 Million Private Placement 


WESTMINSTER, Colo., Nov. 20  /PRNewswire-FirstCall/ -- Allos Therapeutics, Inc.
, announced today that it has completed a $12 million private placement of
securities with several institutional investors. Pursuant to the terms of the
securities purchase agreement, the company sold 5,172,412 shares of common stock
at a negotiated price of $2.32 per share. The company also issued warrants to
purchase approximately 1.7 million shares of common stock at an exercise price
of $3.14 per share.  The warrants become exercisable on May 20, 2004, and expire
on November 20, 2007.  SG Cowen Securities Corporation acted as the company's
exclusive placement agent for this transaction.

The company expects to use the net proceeds from the financing for the
development of the company's lead investigational radiation sensitizer, RSR13
(efaproxiral), and for general working capital purposes.

The offering was made only to accredited investors; as such term is defined in
accordance with the Securities Act of 1933, as amended.  The shares of common
stock and the warrants issued to the investors have not been registered under
the Securities Act of 1933, or any state securities laws. Therefore, they may
not be offered or sold in the United States absent registration under or
exemption from the Securities Act of 1933 and any applicable state securities
laws.  However, the company has agreed to file a registration statement for the
resale of the shares of common stock and the shares of common stock underlying
the warrants within thirty (30) days following the closing.  This news release
is neither an offer to sell nor a solicitation of an offer to buy shares of the
company's common stock or warrants to purchase common stock.

About Allos Therapeutics, Inc.

Allos Therapeutics, Inc. is a biopharmaceutical company focused on developing
and commercializing innovative drugs for improving cancer treatments.  The
company's lead clinical candidate, RSR13 (efaproxiral), is a synthetic small
molecule that has the potential to sensitize hypoxic (oxygen deprived) tumor
tissues and enhance the efficacy of standard radiation therapy.  In addition,
Allos is developing PDX, a novel small molecule cytotoxic injectable antifolate
(DHFR inhibitor) being developed for non-small cell lung cancer, mesothelioma
and non-Hodgkin's lymphoma.  For more information, please visit the company's
web site at:  http://www.allos.com/ . 

DATASOURCE: Allos Therapeutics, Inc.



CONTACT:  Monique M. Greer, VP, Corporate Communications and Investor

Relations of Allos Therapeutics, Inc., [phone] (direct),

 



Web site:  http://www.allos.com/ 

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