Adventrx to Start Drug Trial

Adventrx Pharmaceuticals(ANX Quote) says it's beginning a new trial on its drug CoFactor for the treatment of advanced breast cancer.

The study is designed to assess the drug's activity and safety in patients who have already tried anthracycline and taxane chemotherapies for the disease. CoFactor is expected to enhance the efficacy and reduce the toxicity of a widely used cancer chemotherapy drug known as 5-fluorouracil.

"The initiation of this phase II clinical trial for CoFactor represents an important milestone in the global registration strategy for our lead product development program," said Evan Levine, CEO of Adventrx.

CoFactor has also been studied as a treatment for colorectal cancer.

Shares of Adventrx closed Wednesday down 2 cents, or 0.7%, to $2.91.