Adventrx Plummets 80% On Cancer Drug Trial Results

Adventrx Pharmaceuticals (ANX) shares absolutely crashed on Monday by almost 80% as the company announced that a phase 2b clinical trial for its metastatic colorectal cancer treatment:

...did not demonstrate statistically significant improved safety in the trial's primary endpoint, a reduction in the proportion of patients reporting at least one hematological or gastrointestinal adverse event of grade 3 or greater.

The company's shares closed at more than $2.50 last Friday before opening Monday's session at $0.81 and ended the day at $0.55. The company is now discussing the future course of this program, but is still optimistic about the other two programs ANX-530 and ANX-514.

Bargain hunters might be rewarded handsomely, especially if the company shows strong results from its ANX-530 equivalence trial and receives an NDA from the FDA, as the CEO hopes. But no matter what happens, it looks like those bargain hunters might have to be very patient, as Adventrx stock could dwell in pennyland for some time.

ANX 1-yr chart:

Comments

[razormd:]

ANX is a joke...ANX-530???...do you even know what it is?...basically it is navelbine...despite ANX claims, vein "toxicity" isn't even considered a serious adverse effect for Navelbine!...chemical phlebitis is reported in only 10% of the patients receiving Navelbine!...and Navelbine is used to treat advanced, unresectable non-small cell lung cancer -- in other words, patients with very little time left...and what's the market for Navelbine?...maybe a hundred million dollars?...wow, a relatively tiny market that has practically no need for what ANX claims ANX-530 has to offer...then from ANX's website:

"This new formulation emulsifies vinorelbine into a homogeneous suspension of nanoparticles..."

...nanoparticles?!!...... YUK!!...that's rich!!...reduces vein toxicity?...they conclude that on the basis of a single preclinical study of rabbit ear veins?!...oh, please, I'm starting to hurt!!...they don't even have a copy of the poster presentation on their website -- they probably don't want anynone looking too closely...more to the point, has anyone asked whether there is a market for this "nanoparticle" formulation?...quick answers: no they haven't and no there isn't...and given their extraordinary success with getting what's little more than a B-vitamin approved, how likely will they succeed with a real, honest-to-God drug?...it's pathetic how low some of these companies will go to try and corral sheep for shearing.

2007 Oct 05 12:26 PM