DALLAS, April 23, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring ADVENTRX Pharmaceuticals Inc. (AMEX:ANX). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/ads/ANX
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.
Message Board Search for ANX: http://www.boardcentral.com/boards/ANX
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 has resolved the stockholders' equity continued listing deficiencies originally identified by the NYSE Amex in a June 2009 letter to the Company. In part to address the NYSE Amex's requirement that the Company address its low stock price, ANX also announced that its board of directors has approved a 1-for-25 reverse split of its common stock, which was authorized by its stockholders at a special meeting held in August 2009. The Company's common stock will begin trading on a split adjusted basis on the NYSE Amex when the market opens on Monday, April 26, 2010."
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