ADVENTRX prices underwritten public offering of common stock

ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) today announced the pricing of an underwritten public offering of 21,250,000 shares of its common stock and warrants exercisable for up to 10,625,000 additional shares at $0.80 per fixed combination of shares and warrants for gross proceeds of approximately $17 million.  Each fixed combination will consist of one share and a warrant to purchase up to 0.5 of a share.  The warrants will have an exercise price of $1.10 per share and a 5-year term.  The Company has granted the underwriters a 45-day option to purchase up to an additional 3,187,500 shares of its common stock and warrants exercisable for up to 1,593,750 additional shares to cover over-allotments, if any.

Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NasdaqGM: RODM), is acting as sole book-running manager for the offering.

The Company expects to close the transaction, subject to customary conditions, on or about November 16, 2011.