Conference call scheduled for November 13 at 1:30 p.m. (Pacific);
simultaneous webcast at http://www.adventrx.com
SAN DIEGO, Nov. 7 /PRNewswire-FirstCall/ -- ADVENTRX Pharmaceuticals, Inc. (Amex: ANX), a biopharmaceutical research and development company focused on commercializing proprietary product candidates for the treatment of cancer and infectious diseases, today announced financial results for the three-month and nine-month periods ended September 30, 2007.
"We remain optimistic about our anticipated progress for the rest of this year and into 2008, despite the recent setback in our CoFactor program and our decision to discontinue enrolling patients in our Phase 3 study of CoFactor for the first-line treatment of metastatic colorectal cancer," stated Evan M. Levine, chief executive officer of ADVENTRX. "We are encouraged by continued progress with our vinorelbine emulsion product candidate ANX-530 and our docetaxel emulsion product candidate ANX-514. We expect that our emulsion product candidates will require less expenditures and development time than CoFactor in pursuing regulatory approval for marketing these product candidates."
Three Months Ended September 30, 2007 Operating Results
ADVENTRX's net loss was $5.9 million, or $0.07 per share, for the three-month period ended September 30, 2007, compared to a net loss of $5.1 million, or $0.07 per share, for the same period in 2006. Included in the loss for the three-month period ended September 30, 2007 was non-cash, share-based compensation expense amounting to $689,000, compared to $656,000 for the same period a year ago.
Research and development, or R&D, expe
|SOURCE ADVENTRX Pharmaceuticals, Inc.|
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