SAN DIEGO, June 18, 2012 /PRNewswire/ -- ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) today announced that the Company has been invited to participate in and present at the BIO Business Forum at the 2012 BIO International Convention, which is being held June 18 – 21, 2012 in Boston, MA. Brian M. Culley, Chief Executive Officer of ADVENTRX, will present on Tuesday, June 19th at 9:30 a.m. EDT in the Celtics Room (104C) at the Boston Convention & Exhibition Center. (Logo: http://photos.prnewswire.com/prnh/20120612/LA22456LOGO-a) "We look forward to participating in the BIO Business Forum, which will allow us to reach a global audience representing over 60 countries and to take advantage of the significant one-on-one partnering and networking opportunities at the convention," stated Mr. Culley. "We believe in ANX-188's potential as an effective treatment for patients with sickle cell disease and are pleased to have the opportunity to continue to share its story with industry leaders and potential partners, particularly on June 19th, which is designated by the United Nations as World Sickle Cell Awareness Day." About BIOThe Biotechnology Industry Organization (BIO) represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. The BIO International Convention is the largest global event for the biotechnology industry and attracts the biggest names in biotech, offers key networking and partnering opportunities, and provides insights and inspiration on the major trends affecting the industry. The BIO Business Forum® has grown over the past eleven years to become the industry's largest partnering event, hosting a record breaking 21,000+ partnering meetings in 2011. More information can be found at www.bio.org. About ADVENTRX PharmaceuticalsADVENTRX Pharmaceuticals is a biopharmaceutical company focused on developing proprietary product candidates. The Company's lead product candidate is ANX-188, a rheologic, antithrombotic and cytoprotective agent that improves microvascular blood flow and has potential application in treating a wide range of diseases and conditions, such as complications arising from sickle cell disease. More information can be found on the Company's web site at www.adventrx.com. Forward Looking StatementsADVENTRX cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements that are based on ADVENTRX's current expectations and assumptions. Such forward-looking statements include, but are not limited to, statements regarding partnering and networking opportunities at the BIO International Convention and ANX-188's potential as an effective treatment for patients with sickle cell disease. Among the factors that could cause or contribute to material differences between ADVENTRX's actual results and those indicated from the forward-looking statements are risks and uncertainties inherent in ADVENTRX's business, including, but not limited to: the potential for ADVENTRX to delay, reduce or discontinue current and/or planned development activities, partner its product candidates at inopportune times or pursue less expensive but higher-risk development paths if it is unable to raise sufficient additional capital as needed; ADVENTRX's ability to obtain additional funding on a timely basis or on acceptable terms, or at all; the potential for delays in the commencement or completion of its planned clinical studies including as a result of difficulties or delays in completing manufacturing process development activities and manufacturing clinical trial material; the risk of suspension or termination of a clinical study including due to lack of adequate funding; the risk that planned clinical studies of ADVENTRX's product candidates, including ANX-188, are not successful and, even if they are successful, that the FDA could determine they are not sufficient to support an NDA for the product candidate; the risk that the FDA does not grant market approval of ADVENTRX's product candidates, including ANX-188, on a timely basis, or at all; ADVENTRX's reliance on third parties to assist in the conduct of important aspects of its product candidates' development programs, including the manufacture of clinical trial material, the conduct of clinical studies and regulatory submissions related to product approval, and that such third parties may fail to perform as expected; the risk that intellectual property protection ADVENTRX obtains with respect to its product candidates, including ANX-188, is insufficient to provide a competitive advantage; and other risks and uncertainties more fully described in ADVENTRX's press releases and periodic filings with the Securities and Exchange Commission. ADVENTRX's public filings with the Securities and Exchange Commission are available at www.sec.gov. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date when made. ADVENTRX does not intend to revise or update any forward-looking statement set forth in this press release to reflect events or circumstances arising after the date hereof, except as may be required by law. SOURCE ADVENTRX Pharmaceuticals, Inc.
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.