An intravenous formulation composed of a phospholipid suspension of nanoparticles containing the synthetic retinoid derivative fenretinide, with potential antineoplastic activity. Upon intravenous administration, fenretinide binds to and activates retinoic acid receptors (RARs), thereby inducing cell differentiation and apoptosis in susceptible tumor cell types. Fenretinide also binds to and inhibits the activity of mammalian target of rapamycin (mTOR), which may result in both the induction of tumor cell apoptosis and a decrease in tumor cell proliferation. Independent of RAR activation and mTOR inhibition, this agent may also modulate gene expression that leads to ceramide-induced, caspase-independent programmed cell death (PCD) via effectors such as ganglioside GD3 and reactive oxygen species (ROS).