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WESTMINSTER, Colo. - Biotechnology company Allos Therapeutics Inc. said Friday it priced a public offering of 10.8 million shares of common stock at $5.64 each.
| ALTH | 6.12 |  0.36 |
Allos also gave the underwriters the option to buy an additional 1.6 million shares to cover overallotments.
The company expects $56.6 million in proceeds, after expenses and fees, from the offering. It expects to use the proceeds for research and development, manufacture of clinical trial materials and general corporate purposes.
The offering is expected to close Thursday. Merrill Lynch & Co. is the lead underwriter.
Allos shares rose 41 cents, or 7.3 percent, to $6.05 in premarket trading. Shares closed Thursday at $5.64.
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