SAN FRANCISCO, Dec. 15, 2011 /PRNewswire/ -- Vista Partners
announced today that it has updated coverage on ADVENTRX
Pharmaceuticals, Inc. (AMEX: ANX) ("The Company" or "ANX");
and updated its twelve month target price to $3.50. 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." Mr. Silver continues,
"This would seem to indicate that the Company is currently being
given little to no value for its two, fully funded 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." Mr. Silver concludes, "As reported
by theflyonthewall.com on October 11,
2011, GlycoMimetics (private) entered into an exclusive
worldwide licensing agreement with Pfizer for their investigational
compound GMI-1070 currently in Phase 2 development for the
treatment of vaso-occlusive crisis associated with sickle cell
disease. The potential value of the agreement for GlycoMimetics is
approximately $340M, including an
upfront payment as well as development, regulatory and commercial
milestones. The Pfizer deal with Glycomimetics provides
considerable validation for sickle cell disease and would seem to
provide a benchmark for which to base value of ANX-188, which
ADVENTRX has stated, will begin a Phase 3 trial in 2012."
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:
Ross Silver, 877.215.4813 or
info@vistapglobal.com
SOURCE Vista Partners