As promised, Adventrx Pharmaceuticals (ANX) CEO Brian Culley wanted a chance to respond to my recent columns, which you can find here and here.
Brian, you're now steering the
Adam, thank you for the invitation to respond to your Biotech Stock Mailbag article of Jan. 19. Our company typically does not comment on analyst reports, blogs, etc., but there were two items in particular I felt required clarification. "First, you intimated that our ANX-530 market research data is biased. Our method for gathering market research is to conduct rigorous and anonymous analyses through respected third-party firms. This is done specifically to avoid making decisions based on optimistic or inadequate internal projections, which would serve neither us nor our investors. "Second, you cautioned your readers that Adventrx is 'running out of time' due to the introduction of generic forms of Taxotere. However, we know that all generic forms of Taxotere, as well as reformulations currently in patent litigation, contain polysorbate 80 (a detergent). Therefore, detergent-free ANX-514 is differentiated from both the branded drug (Taxotere) and its generic copies, regardless of when they may reach the market. We at Adventrx welcome scrutiny and we look forward to additional reports that may be published at TheStreet.com and other media channels.
Thanks, Brian, I'll take back the steering wheel now.