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Sept. 9, 2011 /PRNewswire/ --
Vista Partners announced today that it has updated coverage on
ADVENTRX Pharmaceuticals, Inc.(AMEX: ANX) ("The Company" or "ANX")
; and maintains its twelve month target price of
Ross Silver, Principal Analyst at Vista Partners stated, "ANX currently trades at a negative enterprise value with its market cap currently being less than its cash balance. The Company's cash value per share was
$1.59 as reported at the end of the second quarter." Mr. Silver continues "This would seem to indicate that the Company is currently being given no value for its three late stage clinical candidates: ANX-188, a novel, purified, rheologic and antithrombotic compound initially being developed as a first-in-class treatment for pediatric patients with sickle cell disease in acute crisis; ANX-514, a detergent-free reformulation of the blockbuster drug Taxotere, which recently went off-patent and Exelbine™, a novel emulsion formulation of the chemotherapy drug vinorelbine (Navelbine®)."
To download a FREE copy of the
ADVENTRX Pharmaceuticals, Inc. research report, please visit
http://www.vistapglobal.com and click the "download research" icon to gain access to the report.
About Vista Partners:Vista Partners LLC, founded in 2005, is a Registered Investment Advisor in the States of
Oregon. The firm's professional staff has backgrounds in finance, corporate communications and investment banking. Vista Partners LLC has built a name for itself in the small cap space due to its selection of
profitable investment ideas.
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SOURCE Vista Partners