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ADVENTRX Reports First Quarter 2011 Financial Results
Date:5/9/2011

SAN DIEGO, May 9, 2011 /PRNewswire/ -- ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) today reported financial results for the first quarter ended March 31, 2011.

"We are pleased to have completed the acquisition of SynthRx and look forward to meeting with the FDA this year to reach agreement on the protocol for a pivotal phase 3 study of ANX-188 for the treatment of sickle cell crisis," said Brian M. Culley, Chief Executive Officer of ADVENTRX.  "In addition, we continue to prepare for the commercial launch of Exelbine and to develop the protocol for a phase 3 study of ANX-514, our polysorbate 80-free formulation of docetaxel, to provide the additional safety data requested by the FDA."

"Our strong balance sheet and cash position at March 31, 2011 will help fund these phase 3 studies while allowing us to continue to evaluate strategic acquisitions that we believe will further enhance our product pipeline and create value for our stockholders," Mr. Culley concluded.

First Quarter 2011 Operating ResultsADVENTRX's net loss applicable to common stock for the first quarter of 2011 was $3.0 million, or $0.13 per share, compared to a net loss applicable to common stock of $4.9 million, or $0.48 per share, for the same period in 2010. Included in the net loss applicable to common stock for the first quarter of 2010 was a non-cash, deemed dividend expense of $2.5 million incurred in connection with the Company's January 2010 equity financing.

Research and development (R&D) expenses for the first quarter of 2011 were $0.6 million, a decrease of $0.6 million, or 51%, compared to $1.2 million for the same period in 2010. The decrease was due primarily to a $0.7 million decrease in external nonclinical study fees and expenses.  The decrease in external nonclinical study fees and expenses resulted largely from a $0.5 million decrease in research-rela
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SOURCE ADVENTRX Pharmaceuticals, Inc.
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Related medicine technology :

1. ADVENTRX Completes Acquisition of SynthRx
2. ADVENTRX Pharmaceuticals Provides Update on ANX-514
3. ADVENTRX Signs Definitive Agreement to Acquire SynthRx Inc.
4. ADVENTRX to Provide Update Regarding Pipeline Expansion Efforts
5. ADVENTRX Pharmaceuticals to Present at the 13th Annual BIOCEO & Investor Conference on February 15
6. ADVENTRX Pharmaceuticals Receives PDUFA Date for Exelbine™ NDA
7. ADVENTRX Pharmaceuticals Announces Closing of $22.5 Million Financing
8. ADVENTRX Pharmaceuticals Announces Capital Raise of $22.5 Million
9. ADVENTRX Announces Signing of Term Sheet for Acquisition of Poloxamer-Based Therapeutics
10. ADVENTRX Pharmaceuticals to Present at the 4TH Annual OneMedForum Business Development and Investment Conference on January 11
11. ADVENTRX Requests Meeting with FDA to Discuss ANX-514 Study
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