Sold CTIC, Buy ANX
March 31, 2009
Sold all of my holdings in CTIC at a 16% profit. I will continue to monitor the company on any news and speculation which will give it a more positive outlook. For now, there are better opportunities in the short-term.
My new BUY is ADVENTRX Pharmaceuticals, Inc.
New buy is ANX @ $0.12
Adventrex to receive cash payment of $300,000. [ source ]
Adventrx Pharmaceuticals, a biopharmaceutical company, has granted Shin Poong Pharmaceutical exclusive rights in South Korea to make, use and sell ANX-514, one of its two lead product candidates.
Under the terms of the agreement, Adventrx will receive an upfront cash payment of $300,000, up to approximately $2 million in regulatory and commercial milestones and royalties on net sales of licensed products. Shin Poong is responsible for all development and commercial activities related to ANX-514 in South Korea.
ANX-514 is a reformulation of the chemotherapeutic agent, Taxotere, an anticancer agent that is approved to treat breast, non-small cell lung, prostate, head and neck and gastric cancers.
Brian Culley, chief business officer of Adventrx, said: “Shin Poong is well-positioned to successfully develop and commercialize ANX-514 in South Korea. We are excited about this first validation of our detergent-free docetaxel program, and we remain committed to finding additional partners for ANX-514, as well as ANX-530, in other territories and working towards consummating the strategic transaction process we began in December 2008.
“With support from our consultants and vendors, we continue to be on track to announce preliminary pharmacokinetic results from our bioequivalence study of ANX-514 in the second quarter of 2009.”
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April 9th, 2009 at 6:03 pm
I note that this stock continues to trade 12 – 14. What kind of timeframe do you plan to hold it and what do you expect from it. I’m new at this and I’m trying to learn. I have not yet purchased this stock.