Alfacell Corporation is a biopharmaceutical company engaged in the discovery and development of a class of therapeutic drugs for the treatment of cancer and other pathological conditions. The Company’s drug discovery and development program consists of therapeutics, which are being developed from amphibian ribonucleases (RNases). RNases are biologically active enzymes that split RNA molecules. ONCONASE (ranpirnase) is an amphibian ribonuclease isolated from the eggs of the Rana pipiens (the Northern Leopard frog). ONCONASE, its principal drug product candidate, is being evaluated in human clinical trials for the treatment of various forms of cancer. Its clinical trial for ONCONASE is a confirmatory Phase IIIb registration trial designed to evaluate the efficacy, safety and tolerability of the combination of ONCONASE and doxorubicin as compared to doxorubicin alone in the treatment of patients with unresectable (inoperable) malignant mesothelioma (UMM), a rare form of lung cancer.