Allos burns $5.7 million of cash reserve during Q3

By Angela McDaniels

Seattle, Nov. 3 - Allos Therapeutics, Inc.'s cash, cash equivalents and marketable securities fell to $37.8 million at Sept. 30 from $43.5 million at June 30 and $55.3 million at Dec. 31, 2005, according to a company news release.

The net loss grew to $8.1 million, or $0.15 per basic and diluted stock, for the third quarter ended Sept. 30 from $4.8 million, or $0.09, for the third quarter of 2005.

For the first nine months of 2006, the company reported a net loss of $22.1 million, or $0.40 per basis and diluted share, compared with a net loss of $14.9 million, or $0.36 per share, for the same period of last year.

The company has not yet generated any revenue.

"During the quarter [...] we completed patient enrollment in our pivotal phase 3 Enrich trial of Efaproxyn in women with brain metastases originating from breast cancer and reached agreement with the Food and Drug Administration under the Special Protocol Assessment process on the design of our pivotal phase 2 Propel trial of PDX in patients with peripheral T-cell lymphoma, which we also initiated during the quarter," president and chief executive officer Paul L. Berns said in a company news release.

The company will conduct the final analysis of safety and efficacy data from the phase 3 Enrich trial following the occurrence of 282 patient deaths, which is currently expected to occur in mid 2007. Allos also expects that patient enrollment in the phase 2 Propel trial of PDX will be completed by the third quarter of 2008.

Allos is a Westminster, Colo., biopharmaceutical company focused on cancer.

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