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Adventrx Pharmaceuticals, Inc.
ADVENTRX Announces Restructuring and Cost Reduction Initiatives
November 7th, 2008
ADVENTRX Pharmaceuticals, Inc. (AMEX:ANX) announced that it has implemented a restructuring designed to reduce operating costs while continuing advancement towards the Company's near term goals. ADVENTRX will focus its resources solely on the continued development and regulatory approvals of ANX-530 (vinorelbine emulsion) and ANX- 514 (docetaxel emulsion). The restructuring reduced the Company's staff by a total of nine employees, or approximately 27% of its workforce. These changes will allow the Company to retain the appropriate personnel to submit New Drug Applications (NDAs) for both ANX-530 and ANX-514, and are expected to provide ADVENTRX with cash sufficient to fund operations until...
Source: Health Business Week (2008-11-07)
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