Advaxis Shares Pop Up 72% On Solid Data For ADXS-NEO

Advaxis

Shares of Advaxis (NASDAQ:ADXS) are up a whopping 72%, selling for $10.20 this morning after the company released improved data for its personalized cancer vaccine candidate ADXS-NEO.

The stock is up about 32% year to date amid various news developments. On Friday, ADXS had a reverse stock split in the ratio of 15-for-1, following which shareholders in the company will get 15 shares for every stock held (as of March 28th, 2019).

Preliminary results from a Phase 1 study of ADXS-NEO showed “substantial” anti-tumor activity, including T cell responses to neoantigens and antigen spreading, within one week of the first dose at both dose levels.

Noticeably, the lower dose (1×108 colony forming units or CFU) was well-tolerated in two patients, but the higher dose (1×109 CFU) was not. The dose-limiting toxicities related to the higher dose were serious hypoxia (where tissues lack adequate oxygen) and serious hypotension (low blood pressure).

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Financial Performance in Latest Quarter

On March 12th, 2019, the company reported positive first-quarter earnings for the period ended January 31st, 2019. Advaxis returned to year-on-year profit of $12.8 million or 18 cents a share, compared to a loss. On an adjusted basis, the company earned 15 cents a share.

The company generated $19.7 million in revenue during the same quarter.

Important Updates During the Quarter

The company’s major ADXS-HOT program enrolled the first patient in its Phase 1/2 Trial for ADXS-503.  This drug will focus on the treatment of Non-Small Cell Lung Cancer. To date, over 10 drug candidates have been designed for different tumor types under the ADXS-HOT program.

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What to Watch?

Technically, ADXS stock is trading at a new 6-month high with increased volume. The company is due to report Phase 1 safety and immunogenicity data for ADXS-PSA and Keytruda (castration-resistant prostate cancer) on Monday, April 1st.

Keep an eye on upcoming news from this company.

Featured image: Pixabay

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