Allos Therapeutics, Inc. Reports Restricted Stock Grant Under Nasdaq Marketplace Rule 4350
WESTMINSTER, Colo., May 25 /PRNewswire-FirstCall/ -- Allos Therapeutics, Inc. is disclosing the following information about a grant of restricted stock awarded to Paul L. Berns as an inducement to his entering into employment with the Company, in press release form, as required by NASD Marketplace Rule 4350(i)(1)(A).
As an inducement for Mr. Berns to join the Company as its President and Chief Executive Officer, on the first date of his employment with the Company, March 9, 2006, Mr. Berns was granted 300,000 shares of restricted stock of the Company (the "Restricted Stock"). The Restricted Stock vests over a four-year period, with 25% of the Restricted Stock vesting on each of the first four anniversaries of the date of grant, subject to Mr. Berns' continued employment with the Company through such vesting dates.
All of the above information, as well as additional information regarding Mr. Berns' employment agreement with the Company, is contained in a Form 8-K that was filed with the Securities and Exchange Commission on March 14, 2006.
About Allos Therapeutics, Inc.
Allos Therapeutics, Inc. is a biopharmaceutical company focused on developing and commercializing innovative small molecule therapeutics for the treatment of cancer. The Company's lead product candidate, EFAPROXYN(TM) (efaproxiral), is a synthetic small molecule designed to sensitize hypoxic, or oxygen-deprived, tumor tissue during radiation therapy. EFAPROXYN is currently being evaluated as an adjunct to whole brain radiation therapy in a pivotal Phase 3 trial in women with brain metastases originating from breast cancer. The Company's other product candidates are: PDX (pralatrexate), a small molecule chemotherapeutic agent (DHFR inhibitor) currently under investigation in patients with non-small cell lung cancer and Non-Hodgkin's lymphoma; and RH1, a small molecule chemotherapeutic agent bioactivated by the enzyme DT-diaphorase currently under evaluation in patients with advanced solid tumors. For more information, please visit the Company's web site at: www.allos.com.Allos Therapeutics, Inc.
CONTACT: Jennifer Neiman, Manager, Corporate Communications of AllosTherapeutics, +1-720-540-5227, firstname.lastname@example.org
Web site: http://www.allos.com/