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ADVENTRX Reports Second Quarter 2011 Financial Results
Date:8/8/2011

applicable to common stock for the six months ended June 30, 2011 was $7.3 million, or $0.30 per share, compared to a net loss applicable to common stock of $10.0 million, or $0.86 per share, for the same period in 2010. Included in the net loss applicable to common stock for the six months ended June 30, 2010 was a non-cash, deemed dividend expense of $5.6 million incurred in connection with the Company's January and May 2010 equity financings.

Research and development (R&D) expenses for the six months ended June 30, 2011 were $2.0 million, an increase of $0.1 million, or 4%, compared to $1.9 million for the same period in 2010. The increase was due primarily to a $0.3 million increase in external bioequivalence and clinical trial fees and expenses, a $0.1 million increase in personnel costs, offset by a $0.3 million decrease in external nonclinical study fees and expenses.  The increase in external bioequivalence and clinical trial fees and expenses is primarily related to increased clinical trial work of $0.2 million for Exelbine™ and clinical consulting expenses of $0.1 million for ANX-188.  The decrease in external nonclinical study fees and expenses resulted primarily from a $0.5 million decrease in research-related manufacturing expenses for ANX-514, a $0.4 million decrease in regulatory consulting services for ANX-514, offset by an increase of $0.5 million in research related manufacturing expenses for Exelbine™ and an increase of $0.1 million in analytical development expenses for ANX-188.

Selling, general and administrative (SG&A) expenses for the six months ended June 30, 2011 were $3.4 million, an increase of $0.9 million, or 37%, compared to $2.5 million for the same period in 2010. The increase was due primarily to a $0.4 million increase in personnel costs, mainly due to an accrual for estimated bonus expense related to 2011 performance and additional staff hired in 2011, and a $0.5 million increase in comme
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SOURCE ADVENTRX Pharmaceuticals, Inc.
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