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ADVENTRX Pharmaceuticals, Inc. Message Board

  • razortruth2001 razortruth2001 Dec 26, 2012 10:35 AM Flag

    brian patrick and greg taking out around $1.5 mil from anx shareholders

    Something's corrupt here at anx when a struggling/failing company allows 3 execs to take out so much money from anx upfront (salaries, perks, etc) when anx, frankly, doesn't have this type of money to #$%$ away on greed inspired takers like brian patrick and greg. Let these people take $100,000 salaries and perks until something real comes out of anx. Then they can ramp up compensation for themselves based on success. It's crazy to reward failure the way anx has done for over 10 years. This is biokleptomania. All this heavy handed overpayment to themselves just assures more dilution down the line for normal anx shareholders. anx seriously has to get its act together and cut down these outrageous payment outlays to the executives here.

    Sentiment: Strong Sell

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    • butchismo420 Dec 26, 2012 7:46 PM Flag

      wont be long til telly is ripping razor to shreads for this valuble thread..

    • Adventrx Pharmaceuticals, Inc.
      "We have experienced significant losses in acquiring and funding the development of our product candidates, accumulating net losses totaling approximately $175.8 million as of March 31, 2012, and we expect to continue to incur substantial operating losses for the foreseeable future, even if we or a future partner of ours is successful in advancing our product candidates to market. We do not expect to generate cash flows from sales of our products unless and until our products are approved for marketing, the occurrence and timing of which we cannot predict accurately."

      Adventrx Pharmaceuticals, Inc.
      "Although we anticipate that our cash, cash equivalents and short-term investments as of September 30, 2012 will be sufficient to fund our currently planned level of operations for at least the next 12 months, we expect to incur significant and increasing losses for the next several years as we advance our product candidates through clinical studies and other development activities and seek regulatory approval to commercialize such product candidates. In addition, we may seek to expand our product pipeline through acquisition of additional product candidates and/or technologies. We will need additional capital to support our planned operating activities. For the foreseeable future, we likely will seek to fund our operations through public or private equity and/or debt financings and/or strategic alliances, including licensing transactions. Even though we were able to raise significant funds in the past through equity financings, the conditions of and our access to capital markets are highly variable and adequate additional financing may not be available to us in the future on acceptable terms or on a timely basis or at all. Our failure to raise capital as and when needed would have a material adverse effect on our financial condition and ability to pursue our business strategy."