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:8/31/2015)... , Aug. 31, 2015  RXi Pharmaceuticals ... focused on discovering and developing innovative therapies primarily ... announced that the 30-day review period following the ... for ocular indications with the U.S. Food and ... is now active. Logo -  ...
(Date:8/31/2015)... SHANGHAI , Aug. 31, 2015 ... developing next-generation antibiotics, today announced positive top-line results ... its lead drug candidate MRX-I. MRX-I is an ... such as MRSA and VRE, while offering physicians ... option than currently available oxazolidinone agents. ...
(Date:8/31/2015)... 2015 LabStyle Innovations Corp. (OTCQB: DRIO), ... announced it recently closed a round of funding ... to support the global rollout and initial U.S. ... diabetes management solution that includes novel software applications ... monitoring device, and for working capital purposes. The ...
(Date:8/31/2015)... ... August 31, 2015 , ... Regulatory agencies have acknowledged ... development approval process. Thus, innovator companies must understand what will be needed in ... CMO, has been hosting multiple educational panels and seminars for experts to share ...
Breaking Biology Technology:RXi Pharmaceuticals Announces Advancements in its Ophthalmology Clinical Program with RXI-109 2RXi Pharmaceuticals Announces Advancements in its Ophthalmology Clinical Program with RXI-109 3RXi Pharmaceuticals Announces Advancements in its Ophthalmology Clinical Program with RXI-109 4MicuRX Reports Positive Top-Line Results In Phase 2 Clinical Trial For Novel Antibiotic MRX-I In Complicated Skin And Soft Tissue Infections 2LabStyle Innovations Closes $2.5 Million Funding to Support Global Rollout of Dario Diabetes Management Solution 2LabStyle Innovations Closes $2.5 Million Funding to Support Global Rollout of Dario Diabetes Management Solution 3LabStyle Innovations Closes $2.5 Million Funding to Support Global Rollout of Dario Diabetes Management Solution 4Regis Shares Expert Advice on Impurities in Drug Development 2Regis Shares Expert Advice on Impurities in Drug Development 3
... Engineering News (Volume 26, No. 11) , , ... one's own shop, even for a period longer than a year, ... filed later to protect the invention. , ,This rule was pronounced ... patent asserted that the patent was invalid due to prior public ...
... Wis. - A new combination of technical solutions ... publishing, broadcasting, and graphic design to transfer high-definition video ... joint solution promises Apple Mac OS X users in ... reduce the time demand for specialized data transfer tasks. ...
... the biotech industry? The July 2006 edition of MedAd News ... birthday this year. On Aug, 23, 2004, I wrote an article ... Boston, Geneva, or Chicago? " , ,In this article I reviewed ... that date the industry back to the 1970s and perhaps the ...
Cached Biology Technology:With patents and research tools, when is private really public? 2With patents and research tools, when is private really public? 3With patents and research tools, when is private really public? 4With patents and research tools, when is private really public? 5Small Tree branches out with affordable video 2At 30, biotech is an industry at a crossroads 2At 30, biotech is an industry at a crossroads 3At 30, biotech is an industry at a crossroads 4At 30, biotech is an industry at a crossroads 5At 30, biotech is an industry at a crossroads 6At 30, biotech is an industry at a crossroads 7
(Date:9/1/2015)... VIEW, Calif. , Sept. 1, 2015 /PRNewswire/ ... with travelers during airport passenger screening. This is ... the passenger screening process will become unintrusive. An ... pre-clearance based on voluntary background investigations will transform ... from Frost & Sullivan, Global Airport Passenger ...
(Date:8/31/2015)... , August 31, 2015 Growing ... technology in government digitization projects to drive India ... recently published TechSci Research report, " India Biometrics Market Forecast ... is projected to grow at a CAGR of ... is anticipated on account of extensive use of biometric technology ...
(Date:8/31/2015)... Research and Markets ( http://www.researchandmarkets.com/research/st5b3m/saudi_arabia ) has announced the ... - Growth, Trends & Forecasts (2014-2020)" report to ... Sensors market is estimated at $0.23 billion by 2018 ... The near future will bring biomedical sensors ... individual. These sensors can be set to trigger alerts ...
Breaking Biology News(10 mins):The Future of Airport Security: Passenger Screening Transitioning Into an Invisible Process 2The Future of Airport Security: Passenger Screening Transitioning Into an Invisible Process 3The Future of Airport Security: Passenger Screening Transitioning Into an Invisible Process 4India Biometrics Market to Grow at Over 35% Through 2020, Says TechSci Research 2India Biometrics Market to Grow at Over 35% Through 2020, Says TechSci Research 3Saudi Arabia Biomedical Sensors Market Report 2015 - Growth, Trends & Forecasts (2014-2020) 2
... for centuries that copper is a potent weapon against ... serious urinary tract infections "know" this, too, and steal ... them. Blocking this thievery with a drug ... according to researchers at Washington University School of Medicine ...
... Calif.) An evaluation of national data by UC Davis researchers ... higher risk of death. When compared to those with ... risk of death during a follow-up period of six years. People ... if they also had diabetes or hypertension. The findings, ...
... be a breakthrough in the practical application of epigenetic ... that those with osteoarthritis have a signature epigenetic change ... gene that produces a destructive enzyme called MMP13. This ... destruction of joint cartilage, making MMP13 and the epigenetic ...
Cached Biology News:Urinary tract infections steal from hosts' defense arsenals 2UC Davis study finds that above-normal weight alone does not increase the short-term risk of death 2UC Davis study finds that above-normal weight alone does not increase the short-term risk of death 3Scientists discover an epigenetic cause of osteoarthritis 2
... MOLT-4 cells were cultured in RPMI 1640 with ... phase of growth. In order to keep ... fixed in acetone-methanol. The cells are arrayed ... with each wells surface specifically treated to enhance ...
Cell Culture Flask, 175 cm, tissue-culture treated polystyrene, barcoded...
... Stabilizer is an aqueous solution that contains ... chemicals in a PBS buffer (phosphate buffered ... product contains a combination of 0.02% methylisothiazolone ... StabilCoat Plus Stabilizer provides optimum performance for ...
... clone K28/86.2, PDZ Domain GenBank ... : GST fusion to residues 77-299 ... Tris pH 7.4, 0.075M NaCl containing ... evaluated by immunoblot on rat brain ...
Biology Products: