ARTICLE | Financial News

Adventrx pulls follow-on

May 23, 2006 12:25 AM UTC

ANX withdrew its proposed follow-on, citing adverse market conditions. The company proposed to sell 15.5 million shares last week. The deal would have raised $71.9 million if sold at $4.64, which ANX's closing price on May 15, the day before the deal was announced. Underwriters were UBS; CIBC World Markets; RBC Capital Markets; and Fortis. At March 31, ANX had $22 million in cash. ...