DALLAS, July 21, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring ADVENTRX Pharmaceuticals Inc. (AMEX:ANX). The report includes financial, comparative and investment analyses, and recent company news that you need to know to make an educated investment decision.
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The full report is available at: http://www.microstockprofit.com/lp/ANX
ANX is trading above its 13-day moving average. While this is normally considered to be a bullish sign, the moving average is downward sloping, which means that investors have been liquidating shares during this time period and tempers the bullishness of the signal.
ADVENTRX Pharmaceuticals Inc. (ANX) is a development-stage biopharmaceutical company. The Company's business is focused on in-licensing, developing and commercializing product candidates for the treatment of cancer. Its lead product candidates, ANX-530 and ANX-514, are emulsion formulations of marketed chemotherapy drugs. ANX is focused primarily on evaluating strategic options, including the sale or exclusive license of one or more of its product candidate programs, a strategic business merger and other similar transactions. In October 2008, ANX announced that it had discontinued active work on all product candidates other than ANX-530 and ANX-514. Its wholly owned subsidiaries include SD Pharmaceuticals Inc. (SDP) and ANX (Europe) Ltd.
Message Board Search for ANX: http://www.boardcentral.com/boards/ANX
In the report, the analyst notes:
"ANX's net loss applicable to common stock for the first quarter of 2010 was $4.9 million, or $0.48 per share, compared to a net loss applicable to common stock of $3.2 million, or $0.87 per share, for the same period in 2009. 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.
"ANX recently announced the results of stability tests performed on samples of ANX-530 (vinorelbine injectable emulsion), or Exelbine(TM), manufactured at the Company's intended commercial manufacturing site. The nine-month stability data are on track to support the submission of a New Drug Application (NDA) for Exelbine."
To read the entire report visit: http://www.microstockprofit.com/lp/ANX
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