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Adventrx Pharmaceuticals, Inc.

Biopharmaceutical company reports loss of $0.05 per share

For the first quarter of 2005, Adventrx reported a net loss of $2.8 million, or $0.05 per share, compared with a net loss of $710,000, or $0.02 per share, for the first quarter of 2004.

"Building on our ability to demonstrate clinical benefit in colorectal and pancreatic cancers, we are moving CoFactor into late-stage trials for both these indications. This year we have received approvals to initiate a U.S. phase III pivotal trial and a European Union phase IIb international trial both in metastatic colorectal cancer," said Evan M. Levine,...

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