UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 6-K

                        REPORT OF FOREIGN PRIVATE ISSUER
                       PURSUANT TO RULE 13a-16a OR 15d-16
                     OF THE SECURITIES EXCHANGE ACT OF 1934




For the Month of January, 2002

ALTAREX CORP.
(Exact name of Registrant as specified in its charter)

610 LINCOLN STREET
WALTHAM, MA, USA 02451
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.

Form 20-F             X       Form 40-F
                  --------               -------

Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes           No    X
     ----          ---

On January 31, 2002, AltaRex Corp. (the "Company") announced additional clinical
results from further analysis of its OvaRex(R) combined United States and
Canadian phase IIb trial in metastatic late stage ovarian cancer. The full text
of the press release issued in connection with the announcement is filed as
Exhibit 99.1 to this Current Report on Form 6-K and is incorporated herein by
reference.


                                INDEX TO EXHIBITS

EXHIBIT NO.                               DESCRIPTION
- -----------                               -----------

   99.1            Press Release Regarding Additional OvaRex(R) Phase IIb
                   Results, dated January 31, 2002.






         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Company has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                            ALTAREX CORP.

                                            By: /s/ Edward M. Fitzgerald
                                                --------------------------------

                                            Name:  Edward M. Fitzgerald


                                            Title: Senior Vice President and
                                                   Chief Financial Officer

                                            Date:  January 31, 2002

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