Allos Therapeutics Offering (NASDAQ:ALTH)

Even though it was early morning when the announcement was made, Allos Therapeutics shares were down in the morning trade and saw no sign on rising hours after the decision was made clear to the public.

Allos Therapeutics have said that they might raise around US$99.4 million from the share offerings, after excluding all the expenses and discounts. The company further mentioned that the underwriters of the share offering will have an option to buy as many as 2.1 million additional shares to cover over allotments and the share offering might close on Tuesday.

Allos Therapeutics will be using all the funds for the marketing research and development of their cancer treatment drug Folotyn. Folotyn was recently approved by the Food and Drug Administration panel as a treatment for PTCL (peripheral T-cell lymphoma) and Allos Therapeutics would like to bring Folotyn into the market as soon as they can to make the most of the situation.