ADVENTRX Pharmaceuticals, Inc. (AMEX: ANX) is trading lower after a filing from Thursday evening allowing the small company to raise capital. Yahoo! Finance shows a market cap of only $18 million, but the SEC filing is meant to allow ADVENTRX to somehow raise up to $150 million with securities sales.
The filing specifies an allowance of one or more offerings of common stock, preferred stock, debt securities, warrants to purchase common stock, preferred stock or debt securities, or any combination thereof.
No investment banking firms and no terms were shown at all in the filing, which is often the case for shelf registration statements.
ADVENTRX shares are down 3.6% at $0.655 on the news and the 52-week trading range is $0.56 to $4.21.
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