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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
        STATES</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
        AND EXCHANGE COMMISSION</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Washington,
        D.C. 20549</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 16pt; FONT-FAMILY: Times New Roman"><strong>FORM
        8-K</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
        REPORT PURSUANT </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">TO
        SECTION 13 OR 15 (d) OF THE </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
        EXCHANGE ACT OF 1934</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
        of
        Report (Date of earliest event reported) </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>July
        21, 2005 </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 23pt; FONT-FAMILY: Times New Roman"><strong>ADVENTRX
        Pharmaceuticals, Inc.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
        name of registrant as specified in its charter)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Delaware</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
        or
        other jurisdiction of incorporation)</font><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="31%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>001-32157</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission
                  File Number)</font></div>
              </td>
              <td align="left" valign="top" width="3%">&#160;</td>
              <td valign="top" width="29%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>84-1318182</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(IRS
                  Employer Identification No.)</font></div>
              </td>
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        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>6725
        Mesa Ridge Road, Suite 100</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>San
        Diego, California 92121</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
        of principal executive offices) (Zip Code)</font><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(858)
        552-0866</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Company&#8217;s
        telephone number, including area code)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Items
        1.01 and 3.02. Entry into a Material Definitive Agreement; Unregistered Sales
        of
        Equity Securities.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        July
        21, 2005, the Company entered into a Securities Purchase Agreement with Icahn
        Partners LP, Icahn Partners Master Fund LP, High River Limited Partnership,
        Viking Global Equities LP, VGE III Portfolio Ltd., North Sound Legacy
        Institutional Fund LLC, North Sound Legacy International Ltd. and the Royal
        Bank
        of Canada (the &#8220;Purchase Agreement&#8221;) for the sale of 10,810,809 shares of Common
        Stock at a purchase price of $1.85 per share (the &#8220;Shares&#8221;) for aggregate gross
        proceeds of $19,999,996.65, and the issuance of warrants to purchase 10,810,809
        shares of Common Stock at an exercise price of $2.26 per share (the &#8220;Warrants&#8221;).
        The Shares and the shares of Common Stock issuable upon exercise of the Warrants
        have not been registered under the Securities Act of 1933 (the &#8220;Securities Act&#8221;)
        in reliance upon the exemption from registration provided by Section 4(2)
        of the
        Securities Act and Regulation D promulgated under that section, which exempts
        from registration issuances to accredited investors as defined in Regulation
        D
        where the offering is not a public offering.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Placement
        Agents.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        CIBC
        World Markets and &#160;RBC Capital Markets served as lead placement agents
        in
        connection with the transaction. RBC Capital Markets is an agent of purchaser
        Royal Bank of Canada.&#160; <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Burnham
        Hill Partners, a division of Pali Capital, Inc., also served as a placement
        agent. </font>The placement agents received an aggregate of $1,599,999.73 in
        cash fees in connection with this financing. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Warrants.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        The
        Warrants have a seven-year term. However, if prior to the expiration date
        there
        occurs a merger, consolidation or other corporate transaction that results
        in a
        change of control, then (i) if the consideration to be received in the change
        of
        control is cash, the Warrants will terminate at the time of the change of
        control and the holder will be entitled to receive the difference (if positive)
        between the amount per share paid in the change of control and the exercise
        price, and (ii) if the consideration received in the change of control is
        other
        property (or a combination of cash and other property), then either the acquirer
        must make provisions to assume the Warrant or, if desired, the Warrant can
        be
        terminated upon payment of a premium to the holder (with the amount of such
        premium being based on the value of the change of control consideration,
        as set
        forth in the Warrant). No Warrant is exercisable for six months after issuance.
        The Warrant exercise price is subject to proportional adjustment in the event
        of
        a stock dividend, stock split or reverse stock split applicable to the Common
        Stock, and the number of shares of Common Stock acquirable on exercise of
        the
        Warrants will likewise be adjusted proportionately. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registration
        Statement.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        The
        Company is required to file a resale registration statement on Form S-3 within
        45 days after the closing of the transaction to register the resale of the
        Shares and the shares of Common Stock issuable upon exercise of the Warrants
        (collectively, the &#8220;Registrable Securities&#8221;). If the Company fails to file a
        registration statement on Form S-3 within such time period or such registration
        statement is not declared effective within 90 days after closing, the Company
        will be liable for certain liquidated damages on an escalating basis as set
        forth in the Purchase Agreement. The Company will be required to keep the
        registration statement effective until such time as all of the Registrable
        Securities may be sold under Rule 144(k) of the Securities Act or all of
        the
        Registrable Securities have been sold.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Rights
        Agreement.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        In the
        Purchase Agreement, the Company agreed to enter into a Rights Agreement upon
        the
        closing of the transaction (the &#8220;Rights Agreement&#8221;) with Icahn Partners LP,
        Icahn Partners Master Fund LP, High River Limited Partnership, Viking Global
        Equities LP and VGE III Portfolio Ltd. (collectively, the &#8220;Rights Investors&#8221;).
        In the Rights Agreement, the Company will agree to the following:</font></div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">2</font></div>
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            <tr valign="top" style="LINE-HEIGHT: 1.25">
              <td align="right" style="WIDTH: 108pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">to
                  grant the Rights Investors the right to consent to any issuance
                  of
                  securities by the Company at a per share price lower than the Warrant
                  exercise price for up to one year, with certain enumerated
                  exceptions;</font></div>
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      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25">
              <td align="right" style="WIDTH: 108pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">to
                  grant the Rights Investors the right to participate in sales of
                  securities
                  for the next seven years, with certain enumerated exceptions set
                  forth in
                  the Rights Agreement, including the right to purchase (i) up to
                  50% of
                  securities sold in a public offering if the offering price is equal
                  to or
                  below $8.00 per share, (ii) up to 20% of the securities sold in
                  a public
                  offering if the offering price is above $8.00 per share, and (iii)
                  up to
                  50% of the securities sold in a private offering.;
                  </font></div>
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      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25">
              <td align="right" style="WIDTH: 108pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">to
                  obtain stockholder approval of any change of control transaction;
                  </font></div>
              </td>
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      </div>
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      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25">
              <td align="right" style="WIDTH: 108pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">to
                  expand the size of the Board of Directors by one member and appoint
                  a
                  nominee of the Rights Investors. Thereafter, for so long as the
                  Rights
                  Investors hold the participation rights described above, the Company
                  will
                  nominate a nominee selected by them to the Company&#8217;s Board of Directors;
                  and</font></div>
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      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25">
              <td align="right" style="WIDTH: 108pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">not
                  to adopt any rights plan designed to prevent a hostile takeover
                  or adopt a
                  classified Board of Directors for so long as the Rights Investors
                  hold the
                  participation rights described above. The Company will hold a special
                  meeting of stockholders to submit these proposals as amendments
                  to its
                  Certificate of Incorporation. In addition to the Rights Investors,
                  stockholders holding approximately 9,000,000 shares of Common Stock
                  have
                  agreed to vote in favor of such
                  amendments.</font></div>
              </td>
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        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Lock-Up
        Agreements.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        In
        connection with the private placement, the executive officers and directors
        of
        the Company entered into &#8220;lock-up agreements&#8221; with CIBC World Markets in which
        they agreed not to sell any of their shares of Common Stock of the Company,
        or
        securities convertible into Common Stock, for 90 days after the effective
        date
        of the registration statement on Form S-3<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        provided, however, that they may sell if the per share price is at least
        $4.00.</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Outstanding
        Securities</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Following the closing of the transactions described herein, the Company will
        have 65,933,730 shares of Common Stock outstanding. In addition, the Company
        will be obligated to issue 20,762,698 shares of Common Stock pursuant to
        outstanding warrants and 2,942,000 shares of Common Stock pursuant to
        outstanding stock options to employees, directors and consultants.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        press
        release issued by the Company on July 22, 2005 with respect to this matter
        is
        included with this report as an exhibit.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
        description is not a complete description of all of the terms of the financing
        and is qualified in its entirety by reference to the agreements entered into
        in
        connection with the financing, which will be included as exhibits on the
        Company&#8217;s next quarterly report on Form 10-Q.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Item
        9.01. Financial Statements and Exhibits.</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;</font></div>
              </td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                  exhibit list required by this item is incorporated by reference
                  to the
                  Exhibit Index filed as part of this
                  report.</font></div>
              </td>
            </tr>

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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
        to the requirements of the Securities Exchange Act of 1934, the registrant
        has
        duly caused this report to be signed on its behalf by the undersigned hereunto
        duly authorized. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 162pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ADVENTRX
                  Pharmaceuticals, Inc.</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 162pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 162pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font size="2"><strong>By:
</strong><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                  Evan M.
                  Levine&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  </u></font></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 162pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Name:</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                  Evan M. Levine</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 162pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font size="2"><strong>Title:</strong><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                    President and Chief Executive Officer</font></font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                    July 27, 2005</font></div>
                </div>
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        INDEX</font></div>
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              </td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Description</u></font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                  Release of the Company dated July 22, 2005.</font></div>
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{"company-data": {"conformed-name": "ADVENTRX PHARMACEUTICALS INC", "cik": "0001160308", "assigned-sic": "2834", "irs-number": "841318182", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32157", "film-number": "05977335"}, "business-address": {"street1": "6725 MESA RIDGE ROAD", "street2": "SUITE 100", "city": "SAN DIEGO", "state": "CA", "zip": "92131", "phone": "8585520866"}, "mail-address": {"street1": "6725 MESA RIDGE ROAD", "street2": "SUITE 100", "city": "SAN DIEGO", "state": "CA", "zip": "92131"}, "former-company": {"former-conformed-name": "BIOKEYS PHARMACEUTICALS INC", "date-changed": "20010928"}}
Unassociated Document
UNITED
        STATES
SECURITIES
        AND EXCHANGE COMMISSION
Washington,
        D.C. 20549
FORM
        8-K
CURRENT
        REPORT PURSUANT
TO
        SECTION 13 OR 15 (d) OF THE
SECURITIES
        EXCHANGE ACT OF 1934
Date
        of
        Report (Date of earliest event reported)
July
        21, 2005
ADVENTRX
        Pharmaceuticals, Inc.
(Exact
        name of registrant as specified in its charter)
Delaware
(State
        or
        other jurisdiction of incorporation)
001-32157
(Commission
                  File Number)
84-1318182
(IRS
                  Employer Identification No.)
6725
        Mesa Ridge Road, Suite 100
San
        Diego, California 92121
(Address
        of principal executive offices) (Zip Code)
(858)
        552-0866
(Company's
        telephone number, including area code)
Items
        1.01 and 3.02. Entry into a Material Definitive Agreement; Unregistered Sales
        of
        Equity Securities.
On
        July
        21, 2005, the Company entered into a Securities Purchase Agreement with Icahn
        Partners LP, Icahn Partners Master Fund LP, High River Limited Partnership,
        Viking Global Equities LP, VGE III Portfolio Ltd., North Sound Legacy
        Institutional Fund LLC, North Sound Legacy International Ltd. and the Royal
        Bank
        of Canada (the "Purchase Agreement") for the sale of 10,810,809 shares of Common
        Stock at a purchase price of $1.85 per share (the "Shares") for aggregate gross
        proceeds of $19,999,996.65, and the issuance of warrants to purchase 10,810,809
        shares of Common Stock at an exercise price of $2.26 per share (the "Warrants").
        The Shares and the shares of Common Stock issuable upon exercise of the Warrants
        have not been registered under the Securities Act of 1933 (the "Securities Act")
        in reliance upon the exemption from registration provided by Section 4(2)
        of the
        Securities Act and Regulation D promulgated under that section, which exempts
        from registration issuances to accredited investors as defined in Regulation
        D
        where the offering is not a public offering.
Placement
        Agents.
CIBC
        World Markets and  RBC Capital Markets served as lead placement agents
        in
        connection with the transaction. RBC Capital Markets is an agent of purchaser
        Royal Bank of Canada.
Burnham
        Hill Partners, a division of Pali Capital, Inc., also served as a placement
        agent.
The placement agents received an aggregate of $1,599,999.73 in
        cash fees in connection with this financing.
Warrants.
The
        Warrants have a seven-year term. However, if prior to the expiration date
        there
        occurs a merger, consolidation or other corporate transaction that results
        in a
        change of control, then (i) if the consideration to be received in the change
        of
        control is cash, the Warrants will terminate at the time of the change of
        control and the holder will be entitled to receive the difference (if positive)
        between the amount per share paid in the change of control and the exercise
        price, and (ii) if the consideration received in the change of control is
        other
        property (or a combination of cash and other property), then either the acquirer
        must make provisions to assume the Warrant or, if desired, the Warrant can
        be
        terminated upon payment of a premium to the holder (with the amount of such
        premium being based on the value of the change of control consideration,
        as set
        forth in the Warrant). No Warrant is exercisable for six months after issuance.
        The Warrant exercise price is subject to proportional adjustment in the event
        of
        a stock dividend, stock split or reverse stock split applicable to the Common
        Stock, and the number of shares of Common Stock acquirable on exercise of
        the
        Warrants will likewise be adjusted proportionately.
Registration
        Statement.
The
        Company is required to file a resale registration statement on Form S-3 within
        45 days after the closing of the transaction to register the resale of the
        Shares and the shares of Common Stock issuable upon exercise of the Warrants
        (collectively, the "Registrable Securities"). If the Company fails to file a
        registration statement on Form S-3 within such time period or such registration
        statement is not declared effective within 90 days after closing, the Company
        will be liable for certain liquidated damages on an escalating basis as set
        forth in the Purchase Agreement. The Company will be required to keep the
        registration statement effective until such time as all of the Registrable
        Securities may be sold under Rule 144(k) of the Securities Act or all of
        the
        Registrable Securities have been sold.
Rights
        Agreement.
In the
        Purchase Agreement, the Company agreed to enter into a Rights Agreement upon
        the
        closing of the transaction (the "Rights Agreement") with Icahn Partners LP,
        Icahn Partners Master Fund LP, High River Limited Partnership, Viking Global
        Equities LP and VGE III Portfolio Ltd. (collectively, the "Rights Investors").
        In the Rights Agreement, the Company will agree to the following:
2
·
to
                  grant the Rights Investors the right to consent to any issuance
                  of
                  securities by the Company at a per share price lower than the Warrant
                  exercise price for up to one year, with certain enumerated
                  exceptions;
·
to
                  grant the Rights Investors the right to participate in sales of
                  securities
                  for the next seven years, with certain enumerated exceptions set
                  forth in
                  the Rights Agreement, including the right to purchase (i) up to
                  50% of
                  securities sold in a public offering if the offering price is equal
                  to or
                  below $8.00 per share, (ii) up to 20% of the securities sold in
                  a public
                  offering if the offering price is above $8.00 per share, and (iii)
                  up to
                  50% of the securities sold in a private offering.;
·
to
                  obtain stockholder approval of any change of control transaction;
·
to
                  expand the size of the Board of Directors by one member and appoint
                  a
                  nominee of the Rights Investors. Thereafter, for so long as the
                  Rights
                  Investors hold the participation rights described above, the Company
                  will
                  nominate a nominee selected by them to the Company's Board of Directors;
                  and
·
not
                  to adopt any rights plan designed to prevent a hostile takeover
                  or adopt a
                  classified Board of Directors for so long as the Rights Investors
                  hold the
                  participation rights described above. The Company will hold a special
                  meeting of stockholders to submit these proposals as amendments
                  to its
                  Certificate of Incorporation. In addition to the Rights Investors,
                  stockholders holding approximately 9,000,000 shares of Common Stock
                  have
                  agreed to vote in favor of such
                  amendments.
Lock-Up
        Agreements.
In
        connection with the private placement, the executive officers and directors
        of
        the Company entered into "lock-up agreements" with CIBC World Markets in which
        they agreed not to sell any of their shares of Common Stock of the Company,
        or
        securities convertible into Common Stock, for 90 days after the effective
        date
        of the registration statement on Form S-3
,
        provided, however, that they may sell if the per share price is at least
        $4.00.
Outstanding
        Securities
.
        Following the closing of the transactions described herein, the Company will
        have 65,933,730 shares of Common Stock outstanding. In addition, the Company
        will be obligated to issue 20,762,698 shares of Common Stock pursuant to
        outstanding warrants and 2,942,000 shares of Common Stock pursuant to
        outstanding stock options to employees, directors and consultants.
The
        press
        release issued by the Company on July 22, 2005 with respect to this matter
        is
        included with this report as an exhibit.
This
        description is not a complete description of all of the terms of the financing
        and is qualified in its entirety by reference to the agreements entered into
        in
        connection with the financing, which will be included as exhibits on the
        Company's next quarterly report on Form 10-Q.
Item
        9.01. Financial Statements and Exhibits.
(c)
The
                  exhibit list required by this item is incorporated by reference
                  to the
                  Exhibit Index filed as part of this
                  report.
3
SIGNATURES
Pursuant
        to the requirements of the Securities Exchange Act of 1934, the registrant
        has
        duly caused this report to be signed on its behalf by the undersigned hereunto
        duly authorized.
ADVENTRX
                  Pharmaceuticals, Inc.
By:
/s/
                  Evan M.
                  Levine
Name:
Evan M. Levine
Title:
President and Chief Executive Officer
July 27, 2005
4
EXHIBIT
        INDEX
Exhibit
Description
99.1
Press
                  Release of the Company dated July 22, 2005.
5