Investment report on ADVENTRX Pharmaceuticals

NewsGuard 100/100 Score announces an investment report featuring ADVENTRX Pharmaceuticals Inc. (AMEX:ANX). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision. 

The full report is available at:

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ADVENTRX Pharmaceuticals Inc. (ANX) is a development-stage biopharmaceutical company. The Company's business is focused on in-licensing, developing and commercializing product candidates for the treatment of cancer. Its lead product candidates, ANX-530 and ANX-514, are emulsion formulations of marketed chemotherapy drugs. ANX is focused primarily on evaluating strategic options, including the sale or exclusive license of one or more of its product candidate programs, a strategic business merger and other similar transactions. In October 2008, ANX announced that it had discontinued active work on all product candidates other than ANX-530 and ANX-514. Its wholly owned subsidiaries include SD Pharmaceuticals Inc. (SDP) and ANX (Europe) Ltd.  

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In the report, the analyst notes:

"ANX's net loss applicable to common stock for the fourth quarter of 2009 was $6.5 million, or $0.04 per share, compared to a net loss applicable to common stock of $7.5 million, or $0.08 per share, for the same period in 2008. Included in the net loss applicable to common stock for the fourth quarter of 2009 was a non-cash deemed dividend expense of $3.3 million incurred in connection with the Company's October 2009 equity financing.

"ANX recently announced that it will meet the U.S. Food and Drug Administration (FDA) in Washington D.C. during the last week of April 2010 to review the Company's New Drug Application (NDA) for ANX-530 (vinorelbine injectable emulsion) and the FDA's refusal-to-file letter. ANX had requested a face-to-face meeting with the FDA to understand its requirements and define the path to a successful filing of an ANX-530 NDA at the earliest possible time."

SOURCE Beacon Equity Research


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