Navigation Links
ADVENTRX Announces Further Cost-Cutting Measures
Date:1/5/2009

- 55% Reduction in Staff Since Start of Q4 2008

- Evaluation of strategic alternatives on-going

- Executive VP Steps Down and Resumes Board Role

SAN DIEGO, Jan. 5 /PRNewswire-FirstCall/ -- ADVENTRX Pharmaceuticals, Inc. (NYSE Alternext US: ANX) announced today that it has implemented a further reduction-in-force in an effort to extend its remaining cash and to prepare itself for a strategic transaction. This follows a reduction implemented in October 2008. In all, the Company's workforce has declined by approximately 55% since the beginning of the fourth quarter of 2008. Following the current reduction and other planned departures, the Company will have fourteen employees. In addition, the Company has substantially reduced or delayed spending on third-party consulting and vendor services, including contract manufacturing.

ADVENTRX's remaining employees will focus their efforts on continuing to evaluate strategic options, as well as continuing the Company's on-going bioequivalence study of ANX-514 (docetaxel emulsion) and activities related to submitting a New Drug Application for ANX-530 (vinorelbine emulsion). The cost-cutting measures announced today should not have a direct and immediate effect on the Company's previously announced timelines. However, any further cost-reductions or expense reductions/delays likely will have a negative impact the Company's development and commercialization plans.

As part of its overall cost-cutting measures, Mark N. K. Bagnall, who in April 2008 joined the Company as Executive Vice President and Chief Financial Officer, agreed to return to his prior role as solely a member of the Company's Board of Directors, and has agreed to provide consulting services on an as-needed basis.

"It's never easy to let go employees, particularly those who have been with the Company for many years and who have made contributions to the Company. Tho
'/>"/>

SOURCE ADVENTRX Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related biology technology :

1. ADVENTRX Exploring Strategic Options
2. ADVENTRX Pharmaceuticals Reports Third Quarter 2008 Financial Results and Business Update
3. ADVENTRX Pharmaceuticals to Present at the Rodman & Renshaw 10th Annual Global Healthcare Conference
4. ADVENTRX Announces Restructuring and Cost Reduction Initiatives
5. ADVENTRX Pharmaceuticals to Report Second Quarter 2008 Results
6. ADVENTRX Settles Dispute With Former Licensee
7. ADVENTRX Pharmaceuticals to Present at the Rodman & Renshaw 5th Annual Global Healthcare Conference
8. ADVENTRX Appoints Vice President of Manufacturing
9. ADVENTRX Creates Executive Vice President Position and Announces New Chief Financial Officer
10. ADVENTRX Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2007 Financial Results
11. ADVENTRX Pharmaceuticals to Report Fourth Quarter and Year End 2007 Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/27/2015)... YORK , March 27, 2015  Peter Walter ... Biomedical Science for his pioneering work on how proteins ... components of a regulatory mechanism that cells use to ... Dr. Walter is a professor of biochemistry at the ... groundwork for treating a range of human diseases related ...
(Date:3/26/2015)... March 26, 2015  Roka Bioscience, Inc. (NASDAQ: ... on providing advanced testing solutions for the detection ... for the three months and full year ended ... Financial Results:Revenue for the quarter ended December 31, ... the fourth quarter of 2013 and $1.5 million ...
(Date:3/26/2015)... and CINCINNATI , March ... (LSE: SHP, NASDAQ: SHPG ) and Cincinnati ... broad research collaboration for rare diseases. The goal of ... therapies to treat rare diseases with high unmet ... with Cincinnati Children,s research expertise. As a nationally ...
(Date:3/26/2015)... Ale Gicqueau, Founder and President of Clinovo, will ... Align Technology, on “ Conducting Postmarket Registries - Rationale ... Conference and Exhibition on April 25th through April 28th ... poster presentation, Ale Gicqueau and Victor Chen will discuss ... the requirements and resources to conduct the registry, as ...
Breaking Biology Technology:German-born cell biologist Peter Walter wins the 2015 Vilcek Prize in Biomedical Science 2German-born cell biologist Peter Walter wins the 2015 Vilcek Prize in Biomedical Science 3Roka Bioscience Reports Fourth Quarter and Full Year 2014 Financial Results 2Roka Bioscience Reports Fourth Quarter and Full Year 2014 Financial Results 3Roka Bioscience Reports Fourth Quarter and Full Year 2014 Financial Results 4Roka Bioscience Reports Fourth Quarter and Full Year 2014 Financial Results 5Roka Bioscience Reports Fourth Quarter and Full Year 2014 Financial Results 6Roka Bioscience Reports Fourth Quarter and Full Year 2014 Financial Results 7Shire and Cincinnati Children's Establish Rare Disease Research Collaboration 2Shire and Cincinnati Children's Establish Rare Disease Research Collaboration 3Shire and Cincinnati Children's Establish Rare Disease Research Collaboration 4Shire and Cincinnati Children's Establish Rare Disease Research Collaboration 5Clinovo Presents at ACRP 2015 in Salt Lake City, Utah on April 25th-28th 2Clinovo Presents at ACRP 2015 in Salt Lake City, Utah on April 25th-28th 3
... Advanced Scientific Knowledge, Highlight Most Recent ... ... ArcMesa Educators, an accredited,provider of continuing education courses, is proud ... by years of scientific,experience and advanced degrees in molecular biology, structural ...
... AUSTIN, Texas, Sept. 27 Luminex Corporation,(Nasdaq: ... at the,Biotechnology Industry Organization Investor Forum to be ... investor presentation by Patrick J. Balthrop, president and ... officer, will,begin at 9:30 a.m. Pacific time; 12:30 ...
... GENZ ) confirmed today that it will not change ... $5.60 in cash per,outstanding common share as set forth ... owns approximately 22 percent of the,outstanding shares of Bioenvision ... its preferred stock that carry a unique set of,rights ...
Cached Biology Technology:ArcMesa Educators Appoints Medical Advisor and Directors to CME Development Team 2ArcMesa Educators Appoints Medical Advisor and Directors to CME Development Team 3Luminex Corporation to Present at Biotechnology Industry Organization Investor Forum 2Genzyme Affirms Purchase Price for Bioenvision at $5.60 Per Outstanding Share 2Genzyme Affirms Purchase Price for Bioenvision at $5.60 Per Outstanding Share 3
(Date:3/19/2015)... March 19, 2015  NXT-ID, Inc. (NASDAQ: NXTD ... on the growing mobile commerce market, announces its biometric payment ... clip that aired this week on Washington DC,s ... In a segment "The Next Great Thing", host ... way to pay, and ,a really big breakthrough in mobile ...
(Date:3/17/2015)... MINNETONKA, Minn. , March 17, 2015 /PRNewswire/ ... sciences technology company specializing in clinical study management ... will be in attendance at ARENA,s Outsourcing in ... Cary, NC.  This event provides an excellent forum ... company,s easy-to-use, flexible and affordable software-as-a-service (SaaS) eClinical ...
(Date:3/17/2015)... March 17, 2015  MecklerMedia Corporation (OTCQX: MECK) ... for service robots ever held in ... on May 11-13, 2015 at the Javits Convention ... the event include: Acorn Product Development; Axis NJ; ... Kinova Robotics; Littler; NewBotic Corporation; Neya Systems LLC; ...
Breaking Biology News(10 mins):NXT-ID's Wocket Smart Wallet Featured on Fox News Segment, "The Next Great Thing" 2NXT-ID's Wocket Smart Wallet Featured on Fox News Segment, "The Next Great Thing" 3Connect With MedNet Solutions At Outsourcing In Clinical Trials Southeast 2MecklerMedia's RoboUniverse New York Announces Sponsors and Exhibitors, May 11-13, 2015 2
... is a severely debilitating psychiatric disease that is thought ... nervous system; however, major breakthroughs linking its genetics to ... PhD assistant professor of Pediatrics at Northwestern University,s Feinberg ... Molecular Genetics Program of Children,s Memorial Research Center studies ...
... A common variation of the gene involved in ... linked to problem behaviors in adults with developmental and ... published in the July 2009 issue of the ... are available online at http://tinyurl.com/mw8baj . "Problem ...
... only a few millimeters up to a few centimeters in ... research, because they possess the extraordinary ability to regenerate lost ... even grow an entirely new worm out of minute amputated ... Berlin, Germany together with researchers in the US and Canada ...
Cached Biology News:A genetic basis for schizophrenia 2Genetic marker linked to problem behaviors in adults with developmental disabilities 2International research team seeks to unravel flatworm regeneration 2
... Nonanoyl-N-methylglucamide White solid. ... be readily removed by dialysis. Useful ... ≥98% by HPLC. Absorbance (10%, ... 2 O. CMC 19 - 25 ...
...
Mouse polyclonal antibody to TNPO2 - transportin 2 (importin 3, karyopherin beta 2b)...
... Rabbit polyclonal to HDAC4 - ChIP ... the class II mammalian histone deacetylases, which ... C-terminal sequence is highly similar to the ... other deacetylases, shuttles between the nucleus and ...
Biology Products: