Allos Therapeutics at Neutral - Analyst Blog
April 05 2011 - 12:01PM
Zacks
We are maintaining our Neutral recommendation on Allos
Therapeutics Inc. (ALTH) with a target price of $3.50.
Allos, founded in 1992 and headquartered in Westminster,
Colorado, is a biopharmaceutical company focused on the development
and commercialization of small molecule drugs for the treatment of
cancer. The company was formerly known as HemoTech Sciences, Inc.
and changed its name to Allos Therapeutics, Inc. in October
1994.
Allos’ sole marketed product is Folotyn (pralatrexate), approved
for treating patients suffering from relapsed or refractory
peripheral T-cell lymphoma (PTCL). The drug received accelerated
approval from the US Food and Drug Administration (FDA) in
September 2009. While the drug has been available to patients since
October 2009, it was launched commercially in January 2010.
The drug has mostly been used to treat 3rd line or
greater PTCL patients or in the salvage setting since its launch.
Allos is, however, looking to establish Folotyn as a second-line
therapy for treating PTCL patients. Folotyn is also being developed
for other indications. The company is leaving no stone unturned to
make Folotyn a success.
Allos is seeking to enter into a partnership outside the US to
co-develop and commercialize Folotyn. The signing of lucrative
deals with established pharma and/or biotech players would not only
boost Allos’ cash position, it would also provide the company with
the necessary marketing muscle.
However, the dependence on one drug for growth concerns us. We
believe that Allos, which is characterized by the absence of a
decent pipeline, must develop additional products to sustain
growth. Consequently, we see limited upside potential from current
levels and retain our ‘Neutral’ view on Allos.
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