ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) announced today that it has obtained a commitment to purchase shares of its 5% Series B convertible preferred stock pursuant to a registered direct offering to a single institutional investor, representing gross proceeds of approximately $1.36 million. Twenty-five percent, or approximately $340,250, of the gross proceeds will be placed in an escrow account, which amounts will be released to make the dividend and other payments described below.

Spectrum Pharmaceuticals, Inc. (NasdaqGM: SPPI - News), a commercial-stage biotechnology company with a focus in oncology, today announced that it has received commitments from institutional investors to purchase $21 million of securities in a registered direct offering. Spectrum expects to receive net proceeds of approximately $20 million after deducting placement agent fees and other offering expenses.

Skystar Bio-Pharmaceutical Co., Ltd. (NASDAQ:SKBI), a China-based producer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, today announced that it has priced its public offering of 1,400,000 shares of common stock. Skystar has granted the representative of the underwriters a 45-day option to purchase up to an additional 210,000 shares of common stock. The shares were offered to the public at $12.98 per share. The offering is expected to settle and close on July 7, 2009, subject to customary closing conditions.

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM - News), today announced that the Company will release certain preliminary financial results for the quarter ended June 30, 2009 at 8:00 AM Eastern on Wednesday, July 8, 2009. The Company will hold a conference call to discuss these preliminary financial results at 10:00 AM Eastern on Wednesday, July 8, 2009 which will be hosted by Edward Rubin and David Horin, Rodman & Renshaw Capital Group’s Chief Executive Officer and Chief Financial Officer, respectively.

How is biotech doing as a group?

The BTK index had a change of 3.25% last week, closing at 701.20, compared to the NASDAQ’s change of 0.59%, while the NBI was up 2.36%, closing at 751.52 The profitable biotechs trade at 18.3 times the FY09 consensus EPS estimates, vs. the historical mean of 44.6 times forward earnings. The PEG on FY09 earnings is 1.1, below the historical mean of 1.6 and well below the historical high of 2.9, while the group’s 2008-2011 CAGR is 16.7

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM - News), today announced that it has expanded the reach of its capital markets and research platform to include Community and Regional Banks.

Rodman & Renshaw’s full suite of capital markets capabilities, including private placements and equity underwritings, will be offered to Community and Regional Banks. Rodman & Renshaw’s research team will cover a range of banks within this sector.

REVIEW IN ONCOLOGY

During the week of June 14, 2009 (from June 14, 2009 to June 20, 2009) significant news items pertaining to the oncology sector were reported

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM - News), today announced that, effective May 18, 2009, Jason P. Reimbold joined The Rodman Energy Group as Vice President, A&D Services in their Houston office.

REVIEW IN ONCOLOGY
Reni Benjamin, Ph.D. - Senior Biotechnology Analyst (212-430-1743)

During the week of June 7, 2009 (from June 7, 2009 to June 13, 2009) significant news items pertaining to the oncology sector were reported!<--break--> including:

Spectrum Pharmaceuticals, Inc. (NasdaqGM:SPPI - News), a commercial-stage biotechnology company with a focus in oncology, today announced that it has received commitments from two existing institutional investors to purchase $10 million of securities in a registered direct offering. Spectrum expects to receive net proceeds of approximately $9.5 million after deducting placement agent fees and other offering expenses.

China Direct Industries, Inc. ("China Direct Industries") (NasdaqGM:CDII - News), a U.S. owned, rapidly growing holding company operating in China in two core business segments, pure magnesium production and distribution of basic materials, announced today that it has entered into definitive agreements to sell 2,702,704 shares of its common stock and warrants to purchase up to 1,351,352 of common stock to accredited investors. The purchase price per share of the common stock will be $1.85.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM - News), today announced that H. Rodgin Cohen, Chairman of Sullivan & Cromwell LLP, will present as a Special Guest Speaker at the Rodman & Renshaw Annual Global Investment Conference on Wednesday, September 9, 2009 at 9:30 am. The Conference will be held at the New York Palace Hotel on September 9 -11. Following Mr. Cohen’s address, it is expected that more than 500 companies from across the globe will present to more than 3,500 attendees. The conference will feature tracks devoted to Community & Regional Banks, Health Care, Metals & Mining, Energy, Cleantech, Asia, Maritime and Growth Companies.

Rodman & Renshaw Capital Group, Inc. (NASDAQ:RODM - News) today announced its results for the first quarter of 2009.

Rodman & Renshaw Invites you to join us for our latest executive conference call.

Elemer Piros, Ph.D., Senior Biotechnology Analyst, will host:

A Discussion on Late Stage Obesity Drugs

Featuring:
Jack Lief, President and CEO, Arena Pharmaceuticals
Timothy E. Morris, Vice President, Finance & CFO, Vivus
Michael Narachi, President and CEO, Orexigen Therapeutics

Cell Therapeutics, Inc. (Nasdaq and MTA: CTIC) (the "Company") today announced that it has sold $20 million of shares of common stock at $1.25 per share and warrants to purchase shares of common stock in a registered offering to a single institutional investor. The Company currently expects to utilize up to $17.8 million in cash currently on hand and/or cash received in connection with this offering to pay for its anticipated tender offer to retire between $83.2 to $89.2 million of its convertible debt. The Company anticipates that the consideration for the tender offer will be in the range of $250 to $300 per $1,000 par value of the bonds.

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM - News), today announced that it will release financial results for the quarter ended March 31, 2009 at 8:00 AM Eastern on Wednesday, May 13, 2009. The Company will hold a conference call to discuss the results at 10:00 AM Eastern on Wednesday, May 13, 2009 which will be hosted by Edward Rubin and David Horin, Rodman & Renshaw Capital Group’s Chief Executive Officer and Chief Financial Officer, respectively.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM - News), today announced the hiring of a senior banker to join its industry-leading healthcare group.

Conclusion: Novavax’s technology is uniquely positioned to potentially to capitalize on the swine flu opportunity if a government (US or non-US) decides to stockpile vaccine. In our view Novavax’s modular technology has an advantage over competing vaccines for two main reasons:

a) It can be quickly distributed to many parts of the world, allowing governments to control the manufacturing and distribution of the vaccine.

b) Novavax has confirmed safety in over 300 healthy subjects. Although it is not yet adequate for full FDA licensure, if a government decides to manufacture a vaccine for emergency stockpiling, a vaccine with at least some human safety would likely be chosen over those still in preclinical stages.

Rodman & Renshaw hosts the latest in a series of medical expert conference calls.

The US declared public health emergency over the swine flu outbreak. More than 100 have died in Mexico. Cases were reported in Europe, New Zealand and in the United States (20; 8 of those in NYC). This variant of the flu may respond to antivirals Tamiflu & Relenza. Should it become resistant, or should it become more deadly, it may only be conquered with vaccination. Novavax is the only company that can deliver a vaccine in 3 months. Please join us for a timely discussion with the CEO, Rahul Singhvi

The call was hosted by:
• Elemer Piros, Ph.D. - Senior Biotechnology Analyst