SOURCE: The Bedford Report

The Bedford Report

November 15, 2011 08:16 ET

Speculative Healthcare Companies IntelGenx and Adventrx Begin to Gain Ground

The Bedford Report Provides Equity Research on IntelGenx Technologies & Adventrx Pharmaceuticals

NEW YORK, NY--(Marketwire - Nov 15, 2011) - Shares throughout the biotechnology sector have been exceptionally volatile of late as developments regarding government approvals, litigation and shockingly disappointing earnings elicit large movements in stock prices. The Bedford Report examines the outlook for companies in the healthcare sector and provides investment research on IntelGenx Technologies Corporation (OTCBB: IGXT) (TSX-V: IGX) and Adventrx Pharmaceuticals, Inc. (NYSE Amex: ANX). Access to the full company reports can be found at:

Some lawmakers in Washington have been arguing that the FDA's tougher safety stance has slowed down the pace of drug approvals and hurting the pharmaceutical and biotech industry. According to Krishan Maggon, a Geneva-based pharmaceuticals consultant, the number of new biotech drugs approved in the U.S. has remained in the 20 to 25 range during the past four years, while in Europe the figure was a record-low 14 last year.

Janet Woodcock, the head of the FDA's drug division, defended the FDA's role, saying challenges being faced by the biotech and pharmaceutical industry are related to high failure rates of drugs in the development process rather than FDA regulations.

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IntelGenx' research and development pipeline includes products for the treatment of severe depression, hypertension, erectile dysfunction, benign prostatic hyperplasia, migraine, insomnia, bipolar disorder, idiopathic pulmonary fibrosis, allergies and pain management. Last week the company announced that FDA approved IntelGenx' lead product, CPI-300, for patients with Major Depressive Disorder.

ADVENTRX Pharmaceuticals is a specialty pharmaceutical company focused on developing proprietary product candidates. The Company's current lead product candidates are ANX-188, a novel, purified, rheologic and antithrombotic compound initially being developed as a first-in-class treatment for pediatric patients with sickle cell disease in acute crisis, and ANX-514, a novel, detergent-free formulation of the chemotherapy drug docetaxel. Shares of the company took a hit last week after it announced the pricing of an underwritten public offering of 21,250,000 shares of its common stock and warrants exercisable for up to 10,625,000 additional shares at $0.80 per fixed combination of shares and warrants.

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