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.
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SOURCE Vista Partners