| ADVENTRX Pharmaceuticals provided an update on its business. The Company's current outlook reflects its bolstered cash position following the closing of a financing earlier this month that provided approximately $6M in proceeds. ADVENTRX stated it plans to use the majority of the proceeds from its latest offering to fund its operations during the FDA review period of an ANX-530 NDA. The Company reiterated that it intends to submit the NDA for ANX-530 by the end of 2009. ADVENTRX also continues to evaluate its options for ANX-514, a reformulation of docetaxel. The Company also announced that is has indefinitely postponed a previously announced plan to voluntarily withdraw its common stock listing from the NYSE Amex and list on the NASDAQ Capital Market. The Company will remain on the NYSE Amex under the symbol "ANX." Finally, ADVENTRX commented on the resignation of Alexander J. Denner from its Board of Directors, noting that the resignation was not the result of a disagreement with the Company on any matter relating to its operations, policies or practices. :theflyonthewall.com |
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