Advanced Viral Research Corp. (ADVR.PK)

Advanced Viral Research Corp., a biopharmaceutical company, engages in the research, development, and commercialization of small molecule therapeutics that address medical needs for various degenerative conditions in the United States. Its products include AVR118, a cytoprotective drug composed of a complex mixture of protein and ribonucleic acid components; AVR123, a form of AVR118 specially designed for dermatology applications, which is in Phase II clinical trials; AVR147, an inhibitor of a cancer target known as a proteasome; AVR168 that is a natural product, which inhibits a member of a family of motor proteins that are responsible for the assembly and function of microtubules during cell division. The company develops its products focusing on the treatment of systemic symptoms, such as cachexia (body wasting), loss of appetite and lethargy experienced by patients with advanced malignant cancer, HIV-AIDS, cardiovascular disease, sepsis, viral infections, and other diseases, as well as to treat as an aid in wound healing. Its also develops its products for use as an anti-inflammatory in conditions, such as rheumatoid arthritis; and palliative agent to minimize certain toxicities associated with chemo or immunotherapies. The company was founded in 1984 and is based in Yonkers, New York.

For the nine months ended 30 September 2006, Advanced Viral Research Corp. reported no revenues. Net loss increased 2% to $3.2M. Revenues reflect the absence of sales as the company has been engaged in R&D activities from its inception in 1985 and can generate revenues only on gaining FDA approval. Higher loss reflects lower interest income, higher research & development expense and the presence of compensation & other expense for options & warrants.