SAN DIEGO, May 16 /PRNewswire-FirstCall/ -- ADVENTRX Pharmaceuticals, Inc. today announced that it plans to publicly offer 15,495,867 shares of its common stock in a firm commitment underwritten offering pursuant to an effective registration statement previously filed with the Securities and Exchange Commission. In connection with this offering, ADVENTRX plans to grant to the underwriters a 30-day option to purchase up to an additional 2,324,380 shares of common stock to cover over-allotments, if any. All of the shares are being sold by ADVENTRX. UBS Investment Bank is the sole book-running manager in this offering. CIBC World Markets Corp. and RBC Capital Markets are acting as co-lead managers, and Fortis Securities LLC is acting as co-manager.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Copies of the preliminary prospectus may be obtained from UBS Investment Bank, Prospectus Department, 299 Park Avenue, New York, NY 10171 or by phone at 212-821-3000.
About ADVENTRX
ADVENTRX Pharmaceuticals is a biopharmaceutical research and development company focused on introducing treatments for cancer and infectious diseases that surpass the performance and safety of existing drugs, by addressing significant problems such as drug metabolism, toxicity, bioavailability and resistance.
Forward-Looking Statement
This press release contains forward-looking statements, within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, regarding ADVENTRX. Such statements are made based on management’s current expectations and beliefs. Actual results may vary from those currently anticipated based upon a number of factors, including uncertainties inherent in the drug development process, the timing and success of clinical trials, the validity of research results, and the receipt of necessary approvals from the FDA and other regulatory agencies. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements regarding ADVENTRX, see the section titled “Risk factors” in the preliminary prospectus, as well as other reports that ADVENTRX files from time to time with the Securities and Exchange Commission. All forward-looking statements regarding ADVENTRX are qualified in their entirety by this cautionary statement. ADVENTRX undertakes no obligation to release publicly any revisions to forward-looking statements to reflect events or circumstances which occur after the date hereof.
ADVENTRX Pharmaceuticals, Inc.
CONTACT: Ioana Hone, Associate Director, Investor Relations, or CarrieCarlander, Chief Financial Officer, both of ADVENTRX Pharmaceuticals,+1-858-552-0866
Web site: http://www.adventrx.com//
Company News On-Call: http://www.prnewswire.com/gh/cnoc/comp/920134.html/
