Allos Therapeutics Inc. (NASDAQ: ALTH) narrowed its fourth-quarter net loss to $(18.1 million), or $(0.17) per share,� compared to a net loss of $(22.9 million), or $(0.22) per share, in the final quarter of 2009. Revenue jumped to $11.7 million from $3.6 million. For the full year, Allos lost $(77.4 million), or $(0.74) per share, on $35.2 million in revenue. The company reported that operating costs climbed 18% in the quarter to $31.4 million.
Allos finished 2010 with no debt, and it had cash, cash equivalents and investments totaling $98.6 million.
In January 2010, Allos commenced the commercial launch of FOLOTYN� (pralatrexate injection) � the first and only drug approved in the U.S. for the treatment of patients with relapsed or refractory peripheral T-cell lymphoma (PTCL).
The company offered guidance for 2011, expecting total operating costs and expenses, excluding cost of sales and non-cash stock-based compensation expense,� to approximate $95 million to $98 million. Stock-based compensation expense is expected to approximate $13 million to $15 million for 2011.
Gross to net sales adjustments are expected to approximate 12% of factory sales for 2011.
Allos’ focus for 2011 will be on driving the U.S. sales growth of FOLOTYN; pursuing regulatory approval for FOLOTYN in the EU; securing a strategic partner to co-develop FOLOTYN on a global scale; to advance FOLOTYN’s development program by obtaining and FDA agreement and initiating a phase III trial of FOLOTYN; and to explore FOLOTYN’s utility in solid tumors.
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