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ADVENTRX Announces Closing of Public Offering
Date:11/16/2011

SAN DIEGO, Nov. 16, 2011 /PRNewswire/ -- ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) today announced the closing of its previously announced underwritten public offering of 21,250,000 shares of its common stock and warrants exercisable for up to 10,625,000 additional shares for gross proceeds of approximately $17.0 million.  The securities sold in the offering were sold in a fixed combination of one share and a warrant to purchase 0.5 of a share at a price to the public of $0.80 per fixed combination.  The warrants have an exercise price of $1.10 per share and a 5-year term.  Net proceeds to the Company from the offering are approximately $15.7 million after deducting underwriting discounts and commissions and estimated offering expenses.  The Company intends to use the proceeds to fund continued development of its lead product candidates and for general corporate purposes.

Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NasdaqGM: RODM), acted as sole book-running manager for the offering.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.  The offer and sale of the securities was made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from the Securities and Exchange Commission's website at http://www.sec.gov or by contacting Rodman & Renshaw, LLC, Prospectus Department, 1251 Avenue of the Americas, New York, NY, 10020, telephone: (212) 201-8064 or email: placements@rodm.com. Before y
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SOURCE ADVENTRX Pharmaceuticals, Inc.
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