ADVENTRX Announces Acceptance of Compliance Plan by NYSE AMEX

On June 1, 2009, ADVENTRX was notified by the NYSE Amex staff that it was not in compliance with the NYSE Amex's continued listing standards as set forth in Part 10 of the NYSE Amex's Company Guide. In order to maintain its listing, the NYSE Amex required ADVENTRX to submit a plan (the "Plan") by July 1, 2009 addressing how it intends to regain compliance by December 1, 2010, which the Company submitted timely.

On July 31, 2009, the NYSE Amex staff notified ADVENTRX that it has determined that the Plan makes a reasonable demonstration of ADVENTRX's ability to regain compliance with the NYSE Amex's continued listing standards and has determined to grant an extension until December 1, 2010 (the "Extension Period") for ADVENTRX to regain compliance with the NYSE Amex's continued listing standards.

During the Extension Period, ADVENTRX will be subject to periodic review to determine whether it is making progress consistent with the Plan. If ADVENTRX does not show progress consistent with the Plan, the NYSE Amex staff will review the circumstances and may immediately commence delisting proceedings.

On June 1, 2009, the NYSE Amex staff indicated that the Company is not in compliance with Section 1003(a)(ii) of the NYSE Amex Company Guide with stockholders' equity of less than $4,000,000 and losses from continuing operations and net losses in three of its four most recent fiscal years and Section 1003(a)(iii) of the NYSE Amex Company Guide with stockholders' equity of less than $6,000,000 and losses from continuing operations and net losses in its five most recent fiscal years.

This press release is issued pursuant to Section 1009 of the NYSE Amex Company Guide.

About ADVENTRX Pharmaceuticals

ADVENTRX Pharmaceuticals is a biopharmaceutical company whose product candidates are designed to improve the safety of existing cancer treatments. More information can be found on the Company's web site at www.adventrx.com.

Forward Looking Statements

ADVENTRX cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements that involve risks and assumptions that, if they materialize or do not prove to be accurate, could cause ADVENTRX's results to differ materially from historical results or those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that ADVENTRX will not make progress consistent with the Plan and that the NYSE Amex staff will commence delisting proceedings; the risk that ADVENTRX will be unable to raise sufficient additional capital on a timely basis to continue as a going concern, including as a result of negative perceptions of the data from ADVENTRX's bioequivalence study of ANX-514; the risk that ADVENTRX will seek protection under the provisions of the U.S. Bankruptcy Code; the risk that ADVENTRX will trigger a "maintenance failure" under that certain Rights Agreement, dated July 27, 2005, as amended, and be required to pay liquidated damages, including as a result of losing its eligibility to use Form S-3 if its common stock is delisted from the NYSE Amex or ADVENTRX is not timely in its filings with the Securities and Exchange Commission; and other risks and uncertainties more fully described in ADVENTRX's press releases and periodic filings with the Securities and Exchange Commission. ADVENTRX's public filings with the Securities and Exchange Commission are available at http://www.sec.gov.

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date when made. ADVENTRX does not intend to revise or update any forward-looking statement set forth in this press release to reflect events or circumstances arising after the date on which it was made.

SOURCE: ADVENTRX Pharmaceuticals, Inc.

Company Contact: 
ADVENTRX Pharmaceuticals 
Brian Culley, Principal Executive Officer 
858-552-0866 
or 
Investor Contact: 
Lippert/Heilshorn & Associates, Inc. 
Don Markley, 310-691-7100 
dmarkley@lhai.com