Exhibit 99.1

 

 

Contact:

Monique Greer

720-540-5268

mgreer@allos.com

 

Allos Therapeutics Reports First Quarter 2011 Financial Results

 

— FOLOTYN First Quarter Net Product Sales Increased 47% Year-Over-Year —

 

— Allos Announces Strategic Collaboration for Co-Development and Ex-U.S. Commercialization of FOLOTYN; Allos to Receive $50 Million Upfront Payment —

 

— Conference Call Scheduled for Today at 4:30 p.m. ET —

 

WESTMINSTER, Colo., May 10, 2011

— Allos Therapeutics, Inc. (Nasdaq: ALTH) today reported financial results for the three months ended March 31, 2011, and announced that the Company and Mundipharma International Corporation Limited (Mundipharma) have entered into a strategic collaboration agreement to co-develop FOLOTYN® (pralatrexate injection).  Under the agreement, Allos retains full commercialization rights for FOLOTYN in the United States and Canada, with Mundipharma having exclusive rights to commercialize FOLOTYN in all other countries.

 

Highlights:

 

·                  FOLOTYN net product sales increased 47% to $10.9 million in Q1 2011, compared to $7.4 million in Q1 2010.

 

·                  Net loss decreased to $15.2 million or $0.14 per share in Q1 2011, compared to $20.5 million or $0.20 per share in Q1 2010.

 

·                  As of March 31, 2011, Allos had no debt and $79.4 million in total cash, cash equivalents and investments.  The Company’s cash position as of March 31, 2011 does not include the upfront payment to be received in May 2011 under the collaboration agreement with Mundipharma.

 

“In the first quarter, we continued to make important progress with the trial, use and adoption of FOLOTYN for patients with relapsed or refractory PTCL in the U.S.,” said Paul L. Berns, president and chief executive officer of Allos Therapeutics.  “In addition, today we achieved a key objective by securing a strategic partner to help advance the global product development and commercialization plan for FOLOTYN.  We believe Mundipharma is an ideal global partner, with substantial resources and a demonstrated track record of success in bringing hematology/oncology drugs to market in Europe. Our key objectives for the remainder of the year include growing U.S. sales of FOLOTYN for relapsed or refractory PTCL, advancing studies of FOLOTYN in other hematologic malignancies, and expanding the commercial potential of FOLOTYN outside the U.S. by pursuing regulatory approval in the EU.”

 

1


The following information was filed by Allos Therapeutics Inc (ALTH) on Tuesday, May 10, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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