SAN FRANCISCO, June 22, 2011 /PRNewswire/ -- Vista Partners
announced today that it has initiated coverage on ADVENTRX
Pharmaceuticals, Inc. (AMEX: ANX) ("The Company" or "ANX"); with a
twelve month target price of $7.50.
Ross Silver, Principal Analyst at
Vista Partners stated, “ANX has a diverse late stage clinical
pipeline with two clinical candidates that could serve
multi-billion dollar markets and one candidate with a Prescription
Drug User Fee Act, or PDUFA, goal date of September 1, 2011 that could lead to approval by
FDA as early as this year. ANX is developing a study protocol for
ANX-514, a novel emulsion formulation of the chemotherapy drug
docetaxel which serves a multi-billion dollar market. The Company
is preparing ANX-514 for submission to the FDA and intends to
continue discussions with the FDA regarding the planned Phase 3
clinical study and other requirements for approval of ANX-514. The
company is developing its protocol for a pivotal Phase III trial
scheduled to begin in 2012." Mr. Silver continues, "In
April 2011, ANX completed the acquisition of SynthRx, Inc.
SynthRx's lead product candidate is a novel, purified, rheologic
and antithrombotic compound, purified poloxamer 188, which ANX is
developing as ANX-188. Initially, ANX is developing ANX-188 as a
first-in-class treatment for pediatric patients with sickle cell
disease in acute crisis and, if ANX is able to reach agreement with
FDA on a study protocol on a timely basis, ANX may initiate a Phase
3 clinical trial of ANX-188 for that indication in 2012." Mr.
Silver concludes, "In November 2010, ANX submitted a new drug
application, or NDA, for Exelbine™, or ANX-530, a novel emulsion
formulation of the chemotherapy drug vinorelbine (Navelbine®), to
the U.S. Food and Drug Administration, or FDA, and in
January 2011, ANX announced that the FDA accepted the
Exelbine™ NDA for filing and established a Prescription Drug User
Fee Act, or PDUFA, goal date of September 1, 2011 to finish
its review of the Exelbine™ NDA."
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.
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SOURCE Vista Partners