SAN FRANCISCO, 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 $7.50. 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 California and 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. Disclaimer & Disclosure:For a full list of disclaimers and disclosures, please visit our website www.vistapglobal.com or click here. Contact:877.215.4813 or email@example.com SOURCE Vista Partners
Shares of ADVENTRX Pharmaceuticals (AMEX:ANX) were gapping down Friday morning with an open price 21.5% lower than Thursday's closing price. The stock closed at 93 cents yesterday and opened today's trading at 73 cents.