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Adventrx Pharmaceuticals, Inc.

Gastrointestinal cancer drug developer records loss of $0.06 per share

Published in Pharma Investments, Ventures and Law Weekly, December 18th, 2005

Adventrx Pharmaceuticals, Inc., (ANX) announced financial results for the 9 months ended September 30, 2005, and provided an update on CoFactor development.

Adventrx reported a net loss of $3.5 million, or $0.06 per share, for the third quarter of 2005, compared with a net loss of $2.1 million, or $0.04 per share, for the third quarter of 2004.

"In the third quarter Adventrx experienced increased visibility to the investment community with the company's selection to the new Russell Microcap Index and with a $20 million private equity placement led by Carl Icahn," said Evan M. Levine, Adventrx president and chief executive officer. "We increased the...

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