Yesterday before the opening bell, ADVENTRX Pharmaceuticals, Inc. announced that it received interest from many companies representing a range of strategic transactions and is currently evaluating all of the proposals. Upon release of the news, the share price of the company spiked up 60%. Today the price per share reached $0.2399 for an additional 69% gain.
Brian M. Culley, Chief Business Officer of ADVENTRX, commented on the news, “We are pleased with the number and breadth of opportunities presented to us and are currently negotiating with interested parties. In order to provide sufficient flexibility to consummate a transaction on appropriate terms, we continue to curtail our spending. While this may impact the timelines of our regulatory filings, it is likely that a future partner would make the final decision on the timing of each NDA submission.”
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