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ADVENTRX Pharmaceuticals, Inc. Message Board

  • fringnatical fringnatical Mar 6, 2013 11:56 AM Flag

    Sorry, but this "company" ha ha is doomed. Get out while you can.

    I listened to the meeting last week and unfortunately I have no hope to offer you here. NO ONE in the company has even the slightess hint of a business sense. They are completely wrapped up in their little world of labs and experiments. To them that is the only reason the company exists..to provide them with money to buy more toys and pay their bills so they can spend all their time playing scientist. Sorry, but that has been the death knell of company after company after company. They have lived their whole lives going from one university and one government grant to another. Then... someone told them there was a way to get MILLIONS AND MILLIONS of dollars to play with and no government grant people to satisfy. Just do whatever you want for years and years and....Oh, sorry that's until the money runs out and it ALWAYS DOES. No problem, though, they can and will eventually go to a major at a nice salary or back to the university research system. Oh, well. It was nice while it lasted.

    Not ONE SENTENCE mentioned bringing in revenue or plans to do so. Even the name change is screwy. Was it for a business reason, did research show this was a name where their SALESMEN could....oooops! that's right. THERE ARE NO SALESMEN AND NEVER WILL BE. The name is about the type of research they are doing. Like if Hoffman had named his company Lysergiodimethilicon instead of Sandoz. The entire meeting was scientists talking science to other research types. Sorry, that is NOT how a company like this SURVIVES. The should have, by now, come up with something ANYTHING they could MANUFACTURE and SELL to become long term self supporting even were it only pimple cream or hitech car polish. NO, they are only doing their research that INTERESTS THEM, not ANYTHING designed to make money. Eventually they will try to sell some more stock, when they see the whole thing coming to an end, but come to an end... and an ugly one it will. Good bye.

    Sentiment: Strong Sell

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    • Truer words were never spoken fringnatical.

    • thebigmonkey@sbcglobal.net thebigmonkey Apr 25, 2013 8:31 AM Flag

      Totally agree

      Sentiment: Strong Sell

    • "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."

      Adventrx Pharmaceuticals, Inc.
      10-Q
      11/05/2012
      (21)
      (22)
      "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."

    • thebigmonkey@sbcglobal.net thebigmonkey Mar 6, 2013 12:10 PM Flag

      I'll totally agree too . They should have stayed a wood working company that they were from the get go

      Sentiment: Strong Sell

    • I could not agree more. 188 is just the current model for planned failure.... and for all the reasons you have mentioned in your post.

      thanks!

      • 1 Reply to rory1_2000
      • Unfortunately I learned this the hard way...by losing money in pharma startups again and again. The ONLY company I have found that followed the principals I outlined is viropharma. Unfortunately I held options on 30k shares and "cleaned up" all my holdings, going to cash to make sure I wasn't holding on to anything just out of habit and missed their dramatic runup. I made money, but lost out on what I could have should have made. DUH. Lesson there? When you do find someone good HOLD ON.

 
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