Navigation Links
ADVENTRX Reverse Split Effective; Trading on Adjusted Basis Begins Today
Date:4/26/2010

SAN DIEGO, April 26 /PRNewswire-FirstCall/ -- ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) today announced that the Company's previously announced 1-for-25 reverse stock split is now effective, and the Company's common stock will begin trading on a split adjusted basis on the NYSE Amex when the market opens today.

The reverse stock split is intended to satisfy the NYSE Amex's determination, as previously communicated to the Company, that it is appropriate for the Company to effect a reverse stock split to address its low trading price per share and that, if a reverse stock split is not completed within a reasonable amount of time, the NYSE Amex may initiate delisting procedures. The Company also believes that a higher share price could broaden ADVENTRX's appeal to investors, in addition to reducing per share transaction fees and certain administrative costs.

The 1-for-25 reverse split reduces the number of shares of the Company's common stock outstanding from approximately 257 million to approximately 10.3 million. Proportional adjustments have been made to ADVENTRX's outstanding stock options, warrants and other equity awards and to its equity compensation plans. Par value and the number of authorized shares of common stock have not changed.  The Company will not issue any fractional shares. Stockholders will receive cash in lieu of fractional shares to which they would otherwise be entitled.

Registered holders of ADVENTRX common stock will receive a letter of transmittal from the Company's transfer agent, American Stock Transfer and Trust Company, with instructions for the exchange of their old stock certificates or the electronic adjustment of their holdings through the direct registration system, as applicable, and payment of cash in lieu of any fractional share. Registered holders may contact American Stock Transfer and Trust Company at (877) 248-6417 with questions regarding the exchange process. Stockholders with shares in brokerage accounts will be contacted by their brokers with instructions.

About ADVENTRX Pharmaceuticals

ADVENTRX Pharmaceuticals is a specialty pharmaceutical company whose product candidates are designed to improve the performance of existing cancer treatments by addressing limitations associated principally with their safety and use.  More information can be found on the Company's web site at www.adventrx.com.

Forward Looking Statements

ADVENTRX cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements that involve risks and assumptions that, if they materialize or do not prove to be accurate, could cause ADVENTRX's results to differ materially from historical results or those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the risk of negative market reaction following implementation of the 1-for-25 reverse stock split, resulting in stock price decline; the risk that the NYSE Amex will commence delisting proceedings based on a future low selling price per share; the risk that ADVENTRX will pursue development activities at levels or on timelines, or will incur unexpected expenses, that shortens the period through which it is able to comply with NYSE Amex continued listing requirements related to stockholders' equity; the risk that ADVENTRX will be unable to raise sufficient additional capital to continue to develop, seek regulatory approval of and commercialize its product candidates; the risk of difficulties or delays in manufacturing, obtaining regulatory approval for and marketing ADVENTRX's lead product candidates; ADVENTRX's reliance on the performance of third parties to assist in the conduct of its bioequivalence trials, regulatory submissions, CMC activities and other important aspects of its product candidate development programs, and that such third parties may fail to perform as expected; and other risks and uncertainties more fully described in ADVENTRX's press releases and periodic filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2009. ADVENTRX's public filings with the Securities and Exchange Commission are available at http://www.sec.gov/.

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date when made. ADVENTRX does not intend to update any forward-looking statement as set forth in this press release to reflect events or circumstances arising after the date on which it was made.


'/>"/>
SOURCE ADVENTRX Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. ADVENTRX Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2009 Financial Results
2. ADVENTRX Receives Brand Name Acceptance for ANX-530
3. ADVENTRX Receives Refuse to File Letter from FDA on ANX-530 New Drug Application
4. ADVENTRX Announces Management Promotions
5. ADVENTRX Appoints Icahn Representative to Board of Directors
6. ADVENTRX Pharmaceuticals to Present at the 12th Annual BIO CEO & Investor Conference on February 9
7. ADVENTRX Pharmaceuticals to Present at the Lippert/Heilshorn Life Sciences Virtual Conference
8. ADVENTRX Pharmaceuticals Reports Additional Pre-Clinical Data for ANX-514
9. ADVENTRX Pharmaceuticals to Present at the BIOCOM Investor Conference on October 26
10. ADVENTRX Pharmaceuticals Announces Closing of Financing
11. ADVENTRX Announces Results From ANX-514 Bioequivalence Study
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... DIEGO , Oct. 12, 2017 AVACEN ... recognized the company with their  2017 New Product Innovation Award ... based on extensive primary and secondary medical device market research ... Medical, through its first-to-market OTC, drug-free pain relief product, the ... unique approach to treating fibromyalgia widespread pain. ...
(Date:10/11/2017)...  True Health, a leader in integrated diagnostics ... National Breast Cancer Awareness month to educate doctors ... Research recently published in ... than 10 million American women are at significant ... BRCA2 and have not had testing. These mutations can ...
(Date:10/5/2017)... Ill. , Oct. 5, 2017  In ... Association of Oral and Maxillofacial Surgeons (AAOMS) released ... opioids – to be used as a first-line ... pain. Recognizing ... the AAOMS White Paper "Opioid Prescribing: Acute and ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... Dickinson Insurance and ... and financial preparation services, is providing an update on a charitable event that ... City Rescue is a locally recognized nonprofit that provides shelter and care for ...
(Date:10/13/2017)... IL (PRWEB) , ... October 13, 2017 , ... ... which established the certification process to promote standards of excellence for the field ... Symposium, scheduled for March 22 – 25, 2018 in Orlando, Florida at the ...
(Date:10/13/2017)... ... 13, 2017 , ... Apple Rehab Shelton Lakes , which specializes in ... the facility as part of a disaster drill on October 3rd. , Apple Rehab ... City Emergency Manager, as well as the Connecticut Long Term Care Mutual Aid ...
(Date:10/13/2017)... ... 2017 , ... Global Healthcare Management’s 4th Annual Kids Fun Run brought out ... free event, sponsored by Global Healthcare Management’s CEO, Jon Letko, is aimed at getting ... children of all ages; it is a non-competitive, non-timed event, which is all about ...
(Date:10/13/2017)... ... 2017 , ... “The Journey: From the Mountains to the Mission Field”: the ... in the Philippines. “The Journey: From the Mountains to the Mission Field” is the ... She has taught all ages and currently teaches a class of ladies at her ...
Breaking Medicine News(10 mins):