Spectrum extends tender offer for shares of Allos Therapeutics

Tuesday, July 10, 2012 11:31 AM

Spectrum Pharmaceuticals, a biotech with a primary focus in oncology and hematology, has extended the offer period for its tender offer to purchase all of the outstanding shares of common stock of Allos Therapeutics, a biopharmaceutical company committed to the development and commercialization of innovative anti-cancer therapeutics, for $1.82 per share in cash.

The offer, which was previously scheduled to expire at 5 p.m. ET, on July 9, 2012, has been extended until 5 p.m. ET on July 23, 2012, unless extended for an additional period. All terms and conditions of the tender offer shall remain unchanged during the extended period.

As of 5 p.m. ET on July 6, 2012, a total of approximately 63,574,257 shares of Allos common stock, representing approximately 59.4% of the outstanding shares of Allos common stock, were validly tendered and not withdrawn.

On June 21, 2012, Spectrum was informed by Allos that the European Commission had adopted the recommendation against the approval of Folotyn and there was no longer any possibility that such milestones would be achieved. Accordingly, no value should be ascribed to the Contingent Value Right and the price for each share of common stock of Allos will be $1.82 per share in cash, without interest and less any applicable withholding taxes. The extension was made in order for Spectrum and Allos to continue cooperating with the Federal Trade Commission (FTC) in relation to a Request for Additional Information and Documentary Material that each party received on May 9, 2012, from the FTC.

Share:          
CWWeekly

March 23

Industry welcomes FDA draft guidance outlining the use of electronic Informed Consent for trials

Apple launches ResearchKit platform to tap millions of iPhone users to enroll in observational studies using apps

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

March

Novo Nordisk, Takeda, Servier, Celgene among top sponsors
New gains seen from patient- and site-centric initiatives

Patient reported outcomes take center stage
FDA combining PROs, clinical outcomes in its approval decisions

Already a subscriber?
Log in to your digital subscription.

Purchase the March issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

February

Study grants market breaks $13 billion
Volume of clinical activity rising while growth in grant spending slows

Revisiting eClinical Technology Solutions Adoption
While use of established solutions grows, sponsors hesitate on newer tools

Already a subscriber?
Log in to your digital subscription.

Purchase the February issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs