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ADVENTRX Pharmaceuticals Reports Second Quarter 2008 Financial Results and Business Update
Date:8/11/2008

Conference call scheduled for August 12, 2008 at 1:30 p.m. (Pacific Time);

simultaneous webcast at http://www.adventrx.com

SAN DIEGO, Aug. 11 /PRNewswire-FirstCall/ -- ADVENTRX Pharmaceuticals, Inc. (Amex: ANX), a biopharmaceutical company focused on in-licensing, developing and commercializing proprietary product candidates primarily for the treatment of cancer and infectious disease, today reported financial results for the three-month and six-month periods ended June 30, 2008.

"During the second quarter of this year, we continued to make advances with respect to the on-going development and our commercialization plans for both ANX-530 (vinorelbine emulsion) as well as ANX-514 (docetaxel emulsion)," stated Evan M. Levine, Chief Executive Officer and President of ADVENTRX. "We continued to make progress with regard to the preparation of our NDA submission for ANX-530 as well as conducting our registrational bioequivalence clinical study of ANX-514. Furthermore, we made a considerable investment of capital this quarter in order to initiate large scale manufacturing to prepare for the commercial launch of both ANX-530 and ANX-514. This is a significant endeavor that will help enable us to successfully launch these product candidates if they are approved. As well, we announced response rate data from 2 separate studies of CoFactor(R), our third oncology product candidate. We continue to evaluate CoFactor and expect to provide further updates with respect to the program as we gather additional data."

Three-Month Period Ended June 30, 2008 Operating Results

ADVENTRX's net loss was $6.4 million, or $0.07 per share, for the three-month period ended J
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SOURCE ADVENTRX Pharmaceuticals, Inc.
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