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ADVENTRX Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2009 Financial Results
Date:3/16/2010

ion, or 49%, compared to $9.7 million for 2008. The decrease primarily was due to a $1.8 million decrease in personnel costs, a $0.9 million decrease in legal and professional services, a $0.6 million decrease in severance related costs, a $0.5 million decrease for consulting, Sarbanes-Oxley compliance and recruiting services, a $0.3 million decrease in non-cash, stock-based compensation expense, a $0.3 million decrease in travel expenses, a $0.2 million decrease for market research expenses and a $0.1 million decrease in insurance related expenses.  SG&A expenses for 2009 included non-cash, stock-based compensation expenses amounting to $0.5 million, compared to $0.9 million for 2008.  

Balance Sheet Highlights

As of December 31, 2009, the Company had cash totaling $8.7 million and working capital of $6.6 million. Stockholders' equity amounted to $6.7 million as of December 31, 2009.  Taking into account net proceeds of $14.0 million from the equity financing completed in January 2010'/>"/>

SOURCE ADVENTRX Pharmaceuticals, Inc.
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