Adventrx is the second security I hold that has been attacked by TheStreet, namely by Adam Feuerstein.
Maybe to some people he is just an honest guy, protecting investors. Right? Not so fast. In my opinion he is the lowest of the lowest scums. Why? Because I truly believe that he serves the interest of the big guys engaged in the short and naked short plays. Using half truth or plain lies, he pushes the share price low in order to help his buddies cover their positions. Because let’s face it, he is not helping me or you or other small investors.
OK, so we have a penny company, Adventrx (ANX on AMEX) that happened to hold the title of the most traded one on AMEX for the past two weeks or so. I took position at $0.114 and have seen it jumped to $0.50. I should have sold and book in the profit. Instead, I decided to wait and see how the future events will unfold. In the mean time, the fantastic activity of this small company, with no debt and with only two employees, grabbed the attention of the above named Adam Feuerstein, who in his already known style, started a vitriolic attack.
Unfortunately to us, the investors and the company, this horrible human being has followers and his negative article had an impact on the share price.
One may think ‘Why is he interested in such a small company? Why not concentrate his efforts and time to attack… let’s say… maybe Goldman Sacks?’
I mean, if you are a real man, flex your muscles with the big players.
Anyway, karma is a bitch and sooner or later something bad will happen to the Adam guy. I don’t know, maybe a SEC investigation? maybe some time spent in jail to make him think twice before hurting so many people?
The reason for my post about Adventrx is to post a summary comment from a message board.
It shows pretty clear how Feuerstein distorted the reality.
Feuerstein writes – “ANX-530 is the name of Adventrx’s reformulated vinorelbine currently under FDA review. ANX-530 appears to be bioequivalent to vinorelbine, based on the pharmacokinetic data that formed the basis of the FDA filing. Moreover, Adventrx says ANX-530 causes less vein irritation than vinorelbine when administered to patients”.
FACT – reformulated vinorelbine = new drug
New drug = New patents, LOL
Feuerstein writes – Adventrix chief Culley says the addressable commercial market opportunity for ANX-530 in non-small cell lung cancer is $200 million in the U.S. – but that’s a made up number and wildly unrealistic.
FACT – Guess this CLOWN missed his presentation!
Re-watch the video Culley said 200 million globally!
Never said 200 million in U.S., LOL
Feuerstein writes – (Adventrx paid for the market research, so results aren’t exactly unbiased.)
FACT – All Companies use outside market research companies/firms for their data, LOL
Feuerstein writes – “In the real world, doctors in the U.S. do not use very much vinorelbine to treat non-small cell lung cancer patients, which is why sales are so low. The preferred chemotherapy regimen here is a combination of carboplatin and paclitaxel. (Vinorelbine is used more in Europe.)
FACT – LOL because they don’t want to deal with the possible lawsuits, do to side affects
Used more in Europe? We are going WorldWide! LOL
Feuerstein writes – Adventrx also has problems with its second pipeline drug, a reformulation of the chemotherapy drug docetaxel known as ANX-514.
Docetaxel, sold under the brand name Taxotere by Sanofi-Aventis, is a $3 billion-dollar chemotherapy drug, so Adventrx is targeting a very lucrative commercial market.
Unfortunately, Adventrx has not established crystal-clear bioequivalence between ANX-514 and docetaxel based on the results from the company’s small pharmacokinetic study. Culley concedes that he can’t file for approval based on the data he has so far. The company is going to meet with the FDA to establish next steps, which may involve more clinical trials.
FACT – Guess he missed this one too!!!
12/01/2009 10:26 am et
(RTTNews) – Adventrx Pharmaceuticals Inc. (ANX: News ) reported that a new, recently completed preclinical study has affirmed the bioequivalence and comparable toxicity of ANX-514 and Taxotere.
Shin Poong Pharmaceuticals, Adventrx’s partner for ANX-514 in South Korea, independently conducted the study and data analysis.
That being said, I hope that my little security will survive the attack and climb back where it was before his malicious involvement.