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Well, I got a news for you -- Ken and his gang are in a brand new Jaguar zooming in the opposite direction, away from a poor house.
That's too funny. In fact, the company says this in the SEC filing:
So, which one to believe? I'd say neither.
The real facts are these:
ADXS had $28.217MM in cash & cash equivalents on 4/30/20. Their quarterly cash burn rate is down to $5.9MM and that's a bare minimum for a 20 employee company running single HOT trial. Thus, they have approximately $23.3MM in cash/CE now. They will need to refuel sometime this early Fall -- can't let the cash go less than 6 months needs. How they will run a secondary? My guess it will be the same old way -- R/S and then an offering with warrants to get $10MM or so. It does not matter -- this company is done, unless they sign a paying partner. But, alas, no one will be taking any risks with this miserable, failed company. Not even MRK as b.liu proclaims.
After burning through over $300MM of other-peoples-money, this company lost any single trust from funds and even retail. Folks wised up. No more money is coming, just predators to make a quick buck by shorting this POS to death.
From the SEC filing:
Say what? Started trading this year? You said that over a year ago or earlier. Did you lose your notes? Forgetting what to say on different boards? Can we say that you you have been “insincere “ for a long time, so to say? Lying would be a better term.
I see that Dr Mason currently runs 2 clinical trials. Neither is related to ADXS.
It boggles my mind that no explanation has been given to us re: this canine trial. Did they bury it once PET got sold?
It's not listed on the most recent corporate presentation (6/20), so it's safe to assume it's shelved.
Tuesday Morning Tidbits:
From 10K:
As of October 31, 2019, we had 35 employees
From June '20 corporate presentation:
We have ~20 employees
Wow, they cut another 15 employees, now down to 20. Did they not have ~120 employees during DOC's heydays? What a collapse.
Look, my personal opinion that the recent HOT data is supported by the reaction from the Wall Street bankers -- a big yawn.
I'm not Zach Hartman (remember him?) and will not digest you the data from the recent trials. Instead, I do tend to compare the data released from different companies re: the same indication/patient condition. If you compare the data that way, you can see that the ADXS/HOT data is not overwhelming. Nobody was blown out of water, and no earth shattering results published. There was some response to the treatment, but the data is not that makes the heads turn. No yet. Will the data get better as it matures? Remains to be seen.
PS. The next raise is coming. Soon, by the end of this summer. You'll see another pathetic attempt to pump before the secondary. When you see a batch of fluff PRs, run for the covers!
I hope you are made a whole in this equity and you'll recover your initial investment and make some extra. If so, I'll be also recovering my losses. But to tell you the truth, that will take a huge a miracle to happen. We'll see.
Can we call Kenny a shareholder, can't we? He holds few shares. Thus, you are right about creating shareholders value, albeit for a select one.
Kenny did pretty well for himself, didn't he?
Those are lights from the smoldering corpse
of Advaxis.
More likely $1.00325 with the NEWS. Does that answer your question?
Any other questions from Gen 1 AI? I thought beta versions from those releases were scrapped?
This sounds like a pump before another secondary. Alliance Global Partners run the last secondaries for ADXS. Round 3? Or, will it be Round 4 or 5? I lost count...
A.G.P./Alliance Global Partners is acting as sole placement agent for the Offering.
https://www.advaxis.com/news-releases/news-release-details/advaxis-inc-announces-pricing-105-million-registered-direct
https://www.advaxis.com/news-releases/news-release-details/advaxis-inc-announces-closing-17-million-public-offering-and
Do you think our management is stupid? I don't. They're smart enough to continue milking money from shareholders.
Can it cure stupidity?
Can you check back later? Circle 07/13/2056 on your calendar if you have one.
Cash is not an issue -- did you not know MRK is about to pour in billions of dollars into ADXS? Did you really miss b.liu's recent posts? Please stop ignoring her great vision and get on board! Buy shares with both fists and prepare for a meteoric share price rise!
Business update:
https://www.advaxis.com/news-releases/news-release-details/advaxis-reports-second-quarter-ended-april-30-2020-financial
Advaxis Reports Second Quarter Ended April 30, 2020 Financial Results and Provides a Business Update
Go Back
June 11, 2020
Download PDF
Expanding Phase 1/2 Study of ADXS-503 in NSCLC based on sustained and durable clinical responses in first two patients from Part B combination arm with KEYTRUDA®
Increasing patient enrollment in Part B and initiating Part C to move into first-line regimen with KEYTRUDA® in patients ineligible for standard of care platinum-based chemotherapy
Conference call scheduled for 11am ET today
PRINCETON, N.J., June 11, 2020 (GLOBE NEWSWIRE) -- Advaxis, Inc. (Nasdaq: ADXS), a clinical-stage biotechnology company focused on the development and commercialization of immunotherapy products today announced an update on its clinical pipeline and financial results for the second quarter ended April 30, 2020.
Key recent corporate and clinical pipeline updates:
Presented updated clinical and preliminary biomarker data from the ongoing Phase 1/2 trial of ADXS-503 in non-small cell lung cancer (NSCLC) demonstrating clinical benefit in two patients with immediate prior progression on KEYTRUDA® including one durable response out to 25 weeks and another sustained response out to out least 16 weeks with both patients remaining on treatment in Part B, the combination arm with KEYTRUDA®
One sustained partial response with 60% reduction in site lesions at 16 weeks and one durable response of stable disease with 25% reduction in target lesion at 25 weeks confirmed by radiographic scans
Clinical benefit achieved after immediate prior progression on KEYTRUDA® with previous best responses of stable disease suggest ADXS-503 may re-sensitize or enhance response to KEYTRUDA®
Part A monotherapy has been completed with three of six evaluable patients achieving responses of stable disease
As monotherapy, as well as in combination with KEYTRUDA®, ADXS-503 appeared safe and well tolerated with no dose-limiting toxicities
Preliminary biomarker data from seven patients in Part A monotherapy demonstrated activation of cytotoxic and memory CD8+ and CD4+ T cells in 100% of patients and antigen spreading in five of seven evaluable patients, including the first patient in combination therapy
Presented updated survival data from the Phase 1/2 trial with ADXS-PSA in combination with KEYTRUDA® at the ASCO Genitourinary Cancers Symposium. Data highlights include reported median overall survival (95% CI) of 16.4 months (4.0-NR) (n=11) for advanced prostate cancer patients with prior docetaxel therapy and visceral metastases treated with ADXS-PSA in combination with KEYTRUDA® compared to an estimated 11 months with current standard of care. In addition, median overall survival (95% CI) was 33.7 months (15.4-33.7) in all patients treated with ADXS-PSA in combination with KEYTRUDA® (n=37)
Announced a research agreement with Personalis to deploy ImmunoID NeXT Platform in the ADXS-503 clinical program. Personalis will conduct comprehensive tumor genomic profiling to enable the identification of predictive composite biomarkers and/or signatures of response, as well as the broad evaluation of potential mechanisms of therapy resistance
Management Commentary
“We have continued our momentum throughout the second quarter with updated clinical data which support the prioritization of our off-the-shelf neoantigen HOT program,” said Kenneth A. Berlin, President and Chief Executive Officer of Advaxis. “These updated data from our ongoing Phase 1/2 study of ADXS-503 in NSCLC increase our confidence that ADXS-503 may synergistically enhance and/or restore sensitivity to checkpoint inhibitors and we are particularly encouraged by the sustained clinical benefit observed, now out to 16 and 25 weeks, in two patients who had immediate prior progression on KEYTRUDA®. Our results are further supported by preliminary biomarker data which provide insight into the on-mechanism immune stimulation which we believe are driving these responses.”
Mr. Berlin continued, “Based on these results, we are expanding Part B, dose level 1, to enroll up to an additional 15 patients who have progressed on KEYTRUDA® to further characterize the clinical activity of ADXS-503 in combination with KEYTRUDA® as previously observed in the first two evaluable patients in this part of our study. In addition, we have opened enrollment in Part C to evaluate ADXS-503 in combination with KEYTRUDA® as a first line treatment for patients with metastatic NSCLC that either have a high PD-L1 expression score and can receive KEYTRUDA® alone or for patients who are ineligible to receive the standard of care regimen of KEYTRUDA® in combination with platinum based-chemotherapy.” He added, “The safety, tolerability and clinical activity observed so far supports the initiation of Part C for advanced patients in a first-line setting as well as the expansion of Part B in later treatment settings. Based on the clinical and immune correlative results to date, we are hopeful for enhanced responses to KEYTRUDA® in patients in both of these settings who have limited treatment options and poor prognoses. We look forward to continued execution and the expansion of our HOT program to new indications including our planned Phase 1 study of ADXS-504 in prostate cancer patients with biochemical recurrence which we expect to enter the clinic by the end of this year.”
Second Quarter Ended April 30, 2020 Financial Results
Research and development expenses for the second quarter of fiscal year 2020 were $3.9 million, compared with $6.0 million for the second quarter of fiscal year 2019. The decrease is largely attributable to the winding down of our Phase 3 AIM2CERV and Phase 1 ADXS-NEO studies as announced in June 2019 and October 2019, respectively.
General and administrative expenses for the three months ended April 30, 2020 were approximately $2.6 million compared to $3.1 million in the same three-month period in 2019. The decrease in expenses is mainly attributable to lower legal fees, and reduced employee and business development costs.
As of April 30, 2020, the Company had approximately $28.2 million in cash and cash equivalents. The Company believes this is sufficient capital to fund its obligations, as they become due, in the ordinary course of business until at least August 2021.
The company will host a conference call today at 11:00am ET to provide a business update. The call-in information is below and accessible on the Company’s investor relations section of its website:
Webcast: http://public.viavid.com/index.php?id=140132
Domestic: 877-407-0789
International: 201-689-8562
Conference ID: 13704683
About Advaxis, Inc.
Advaxis, Inc. is a clinical-stage biotechnology company focused on the development and commercialization of proprietary Lm-based antigen delivery products. These immunotherapies are based on a platform technology that utilizes live attenuated Listeria monocytogenes (Lm) bioengineered to secrete antigen/adjuvant fusion proteins. These Lm-based strains are believed to be a significant advancement in immunotherapy as they integrate multiple functions into a single immunotherapy and are designed to access and direct antigen presenting cells to stimulate anti-tumor T cell immunity, activate the immune system with the equivalent of multiple adjuvants, and simultaneously reduce tumor protection in the tumor microenvironment to enable T cells to eliminate tumors.
To learn more about Advaxis, visit www.advaxis.com and connect on Twitter, LinkedIn, Facebook and YouTube.
Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statements that express the current beliefs and expectations of management, including but not limited to statements related to the expected clinical development of the Company’s drug product candidates. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, filed on December 20, 2019 and Form 10-K/A on February 28, 2020, and its periodic reports on Form 10-Q and Form 8-K. Any statements contained herein that do not describe historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results, performance and achievements to differ materially from those discussed in such forward-looking statements. The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to update or revise forward-looking statements, except as otherwise required by law, whether as a result of new information, future events or otherwise.
KEYTRUDA® is a registered trademark of Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc., Kenilworth, N.J., USA.
Advaxis, Inc.
Selected Balance Sheet Data
(In thousands)
April 30,
2020 October 31,
(Unaudited) 2019
Cash and cash equivalents $ 28,217 $ 32,363
Total assets $ 45,210 $ 45,257
Total stockholders’ equity $ 35,437 $ 39,531
STATEMENTS OF OPERATIONS
(unaudited, in thousands, except share and per share data)
Three Months Ended
April 30, Six Months Ended
April 30,
2020 2019 2020 2019
Revenue $ 250 $ 1,188 $ 253 $ 20,877
Operating expenses *
Research and development expenses 3,922 5,969 8,781 12,675
General and administrative expenses 2,649 3,092 5,679 5,759
Total operating expenses 6,571 9,061 14,460 18,434
(Loss) income from operations (6,321 ) (7,873 ) (14,207 ) 2,443
Other income (expense) 48 (1,510 ) 97 1,041
Net (loss) income before benefit for income taxes (6,273 ) (9,383 ) (14,130 ) 3,484
Income tax expense 50 - 50 50
Net (loss) income $ (6,323 ) $ (9,383 ) $ (14,180 ) $ 3,434
Net (loss) income per common share, diluted
Basic $ (0.10 ) $ (1.59 ) $ (0.25 ) $ 0.65
Diluted $ (0.10 ) $ (1.59 ) $ (0.25 ) $ 0.20
Weighted average number of common shares outstanding
Basic 60,572,632 5,900,449 56,107,657 5,259,677
Diluted 60,572,632 5,900,449 56,107,657 5,282,772
* Includes stock-based compensation as follows:
Research and development $ 62 $ 258 $ 153 $ 581
General and administrative 148 221 299 520
$ 210 $ 479 $ 452 $ 1,101
Contact:
Tim McCarthy, LifeSci Advisors, LLC
212.915.2564
tim@lifesciadvisors.com
If an ADXS long gets killed by a ADXS short, this board is silent. When ADXS shorts are going to be killed by ADXS longs, there'll be peaceful riots in Princeton, NJ.
Terry,
You have sharp mind to digest the press releases and prepare us for the imminent partnership news that will put the stock in triple digits! While an ordinary ADXS investor is really smart which has manifested in millions of dollars each investor's gained over the past few years, you clearly stand out with your vision for this great company! Thank you for connecting the dots in the press release, and we are so grateful to have you on this board!
Remember that the PR was released after the close, then the business update next morning. Thus, Ken was reluctant to release a partnership news then had to hold that news for a year to release it in 10 days. Great job, Ken! I would write a letter to Sidransky to increase your annual bonus to $13,647,143.78 this year! You deserve every penny of it.
https://www.advaxis.com/news-releases/news-release-details/advaxis-host-business-update-conference-call-june-11-2019
PRINCETON, N.J.--(BUSINESS WIRE)--Advaxis, Inc. (NASDAQ: ADXS), a late-stage biotechnology company focused on the discovery, development and commercialization of immunotherapy products, announces that the company will host a business update call on Tuesday, June 11, 2019 at 11:00 a.m. ET.
During the call, Advaxis’ senior management will review the company’s clinical development programs and recent financial results, and provide a general business update. The company intends to issue a news release summarizing financial results for the fiscal second quarter ended April 30, 2019 after market close on Monday, June 10, 2019.
Ken's expertise in bankruptcy and dilution makes him unique in this job market -- we need to double his comp package to retain him! Gutierrez, on the other hand, has unique skills in catching Listeria monocytogenes bastards in a video game "Advaxers" recently launched by Creative Video Industries (aka CVI) headquartered in Cayman Islands. This dynamic duo will lead ADXS to the new highs in the share count!
This is insane! KB’s total compensation was over $1M in 2019 and almost $1.8M in 2018. Unbelievable!
Formatting below is not going to be great when posted, so follow the link and scroll down to the bottom to see the information
https://www.sec.gov/Archives/edgar/data/1100397/000149315220004431/def14a.htm
How this sheet is legal? Why these bloodsuckers are not behind the bar? Read the fricking proxy and enjoy the circus!
Summary Compensation Table
Name and Principal Position Fiscal Year Salary ($) Bonus ($) (1) Stock Award(s) ($) (2) Option Award(s) ($) (3) All Other Compensation ($) (4) Total ($)
Kenneth Berlin (5) 2019 551,750 293,300 - 146,398 45,588 1,037,036
President, Chief Executive Officer 2018 250,000 177,353 405,000 945,000 20,103 1,797,456
Molly Henderson (5) 2019 397,896 158,437 - 58,498 20,052 634,883
Executive VP, Chief Financial Officer 2018 119,712 62,205 - 335,000 4,954 524,871
Andres Gutierrez (5) 2019 424,423 161,000 - 58,498 24,346 688,267
Senior VP, Chief Medical Officer 2018 232,309 40,000 - 317,506 10,795 601,234
Robert G. Petit (6) 2019 258,846 - - 63,000 26,676 348,522
Executive VP, Chief Scientific Officer 2018 397,385 40,000 - 250,000 43,305 730,690
... and throw away the keys.
There's an old adage:
ADAGE is gone after 5 years of misery:
Fund : Shares Held or Principal Amt : Prior % of Portfolio : Ranking : Change in Shares : % Ownership Source : Source Date : Date Reported
ADAGE CAPITAL PARTNERS GP, L.L.C. : 0.00 : 771 : 166,666 : 0.0000% : 13F : 2020-03-31 : 2020-05-15
Results are ok, but not that impressive. They are not going to warrant either a big jump in the share price or, most importantly, a paying partner (i.e. Merck). That's my take on the data.
KB is pushing out PRs that are timed with the ASCO abstracts release. Why did they not submit the abstracts to ASCO? Does not make sense to me. Do they just want to do another cash raise?
ASCO abstracts are out! Advaxis to da moon!
Wait? What? Are you saying it’s not 2079 yet?
Did you mean next few centuries? Was it typo, Terry?
There's always ASCO-2021, then ASCO-2022. We are patient enough to wait to see the Aim2Cerv data until then. Sure, the data will be great and we all know it. Our greatest teacher ever told us so. Still remember justice without equality. #blackspotsmatter
Yes, Terry! Great observation! We should hear about a new business development by the end of June 2037. Can you please write an article about that within the next fifteen years before that news is released? We should stay prepared!
Proxy vote coming soon...
What a disgusting thing to vote for:
-> we are supposed to keep the same bunch of inept BOD members that have failed us for years;
-> Seven-fold increase in the compensation for the top management -- for accomplishing what exactly?
-> retain those who kept rewarding those who failed us, the shareholders;
What's new. Nothing will ever change in Advaxistan.
SuckersR'us.
1. To elect six members to our Board of Directors to hold office until the next annual meeting of stockholders and until their respective successors have been duly elected and qualified, subject to their earlier resignation or removal.
2. To approve an amendment to our 2015 Incentive Plan to increase the total number of shares of common stock authorized for issuance thereunder from 877,744 shares to 6,000,000 shares.
3. To approve an advisory (non-binding) resolution regarding the compensation of our named executive officers.
4. To ratify the appointment of Marcum LLP as our independent registered public accounting firm for the fiscal year ending October 31, 2020, which we refer to as fiscal 2020.
5. To transact such other business as may properly come before the Annual Meeting or any adjournment or postponement thereof.
1) Ken is due for an annual bonus in 10 days to mark his 2nd anniversary as a CEO. Anyone to guess how much will he get? I’d say about 576K before taxes. He deserves every penny of it for doing a great job running this company. To the ground.
2) to avoid delisting, the company will do a reverse split in a month or two. That move will be accompanied by what? You guessed right! Another secondary! Give a trophy to everyone who knows what is coming next.
Forgot to add another P&D company on the stay-away list: BSGM.
Wow! Ours old pal DOC jumps into a corona virus game! What’s new! Almost every shady company has been jumping into Covid19 war. Inovio, Ampe, and etc. extremely strange that Berlin has not joined the game yet. Pump and dump.
Terry,
remind us when have been right about Advaxis? A lot of hopium in your article, sorry. Seen that before many, many times...
Certain things never change.
I will start believing in ADXS once the sun starts rising from the west.
$34.2MM cash as of Jan 31 this year with about $8MM per quarter cash burn. Guess how long that will last? Why the company claims "last until at least mid-2021"? Does not add up, even with my rudimentary math skills. Particularly, they have another HOT-PSA up and running soon. Can they partner that program with a paying pharma, at last?
Q1 report:
https://www.advaxis.com/news-releases/news-release-details/advaxis-reports-first-quarter-ended-january-31-2020-financial
Advaxis Reports First Quarter Ended January 31, 2020 Financial Results and Provides a Pipeline Update
Go Back
March 13, 2020
Download PDF
PRINCETON, N.J., March 13, 2020 (GLOBE NEWSWIRE) -- Advaxis, Inc. (Nasdaq: ADXS), a clinical-stage biotechnology company focused on the development and commercialization of immunotherapy products today announced an update on its clinical pipeline and financial results for the first quarter ended January 31, 2020.
Key recent corporate and clinical pipeline updates:
Presented updated clinical data from the ongoing Phase 1/2 ADXS-503 trial at the I/O 360° Conference. Data presented showed that the first two patients treated in the combination arm, who previously progressed on KEYTRUDA®, achieved a partial response with substantial tumor shrinkage of nearly 60% and the other patient achieving stable disease with a 25% reduction in a target lesion.
Presented updated survival data from the Phase 1/2 ADXS-PSA trial at the ASCO Genitourinary Cancers Symposium. Data highlights include reported median overall survival (95% CI) of 16.4 months (4.0-NR) (n=11) for advanced prostate cancer patients with visceral metastases treated with ADXS-PSA in combination with KEYTRUDA® compared to an estimated 11 months with current standard of care. In addition, median overall survival (95% CI) was 33.7 months (15.4-33.7) in all patients treated with ADXS-PSA in combination with KEYTRUDA® (n=37).
Data presented in 2020 suggest that both ADXS-503 and ADXS-PSA may have the potential to enhance or restore sensitivity to checkpoint inhibitors such as KEYTRUDA®.
Announced FDA allowance of its Investigational New Drug Application (IND) for ADXS-504 for the treatment of prostate cancer. ADXS-504 is the Company’s second drug product candidate from its HOT off-the-shelf neoantigen clinical program targeting hotspot mutations and other tumor-associated antigens.
Closing of a $10.5 million equity financing with two investors.
Announced a research agreement with Personalis to deploy ImmunoID NeXT Platform in the ADXS-503 clinical program. Personalis will conduct comprehensive tumor immunogenic profiling to enable the identification of predictive composite biomarkers and/or signatures of response, as well as the broad evaluation of potential mechanisms of therapy resistance.
Management Commentary
“We have started our fiscal year with encouraging positive data presented in our ADXS-PSA and ADXS-503 clinical programs,” said Kenneth A. Berlin, President and Chief Executive Officer of Advaxis. “Importantly, data from both studies suggest that Lm immunotherapies may have the ability to synergistically enhance or restore sensitivity to checkpoint inhibitors which could be a meaningful breakthrough in improving outcomes for advanced and refractory patients. We continue to execute on our HOT off-the-shelf program in NSCLC with enrollment continuing in the combination arm of the study, Part B, and a planned initiation of Part C which will move combination therapy to a first-line setting, later this year. We are also planning to move an additional HOT construct, ADXS-504, for prostate cancer, into the clinic later this year for which the IND was allowed earlier this year.”
Mr. Berlin continued, “We are currently evaluating next steps for our ADXS-PSA program based on the promising increases in median overall survival observed in combination with KEYTRUDA®. With an anticipated cash runway into mid-2021, we are positioned to explore the early signals of activity in our ongoing trials while advancing additional programs that leverage these important findings.”
First Quarter Ended January 31, 2020 Financial Results
During the quarter ended January 31, 2019, the Company recognized $19.4 million in revenue associated with the revenue recognition requirements surrounding the termination of the collaboration agreement with Amgen in 2019; no similar situation existed during the fiscal quarter ended January 31, 2020.
Research and development expenses for the first quarter of fiscal year 2020 were $4.9 million, compared with $6.7 million for the first quarter of fiscal year 2019. The decrease is largely attributable to the winding down of our Phase 3 AIM2CERV and Phase 1 ADXS-NEO studies as announced in June 2019 and October 2019, respectively.
General and administrative expenses for the three months ended January 31, 2020 were approximately $3.0 million compared to $2.7 million in the same three-month period in 2019 as a result of higher business development and legal fees.
As of January 31, 2020, the Company had approximately $34.2 million in cash and cash equivalents. The Company believes this is sufficient capital to fund its obligations, as they become due, in the ordinary course of business until at least mid-2021.
About Advaxis, Inc.
Advaxis, Inc. is a clinical-stage biotechnology company focused on the development and commercialization of proprietary Lm-based antigen delivery products. These immunotherapies are based on a platform technology that utilizes live attenuated Listeria monocytogenes (Lm) bioengineered to secrete antigen/adjuvant fusion proteins. These Lm-based strains are believed to be a significant advancement in immunotherapy as they integrate multiple functions into a single immunotherapy and are designed to access and direct antigen presenting cells to stimulate anti-tumor T cell immunity, activate the immune system with the equivalent of multiple adjuvants, and simultaneously reduce tumor protection in the tumor microenvironment to enable T cells to eliminate tumors.
To learn more about Advaxis, visit www.advaxis.com and connect on Twitter, LinkedIn, Facebook and YouTube.
Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statements that express the current beliefs and expectations of management, including but not limited to statements related to the expected clinical development of the Company’s drug product candidates. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, filed on December 20, 2019 and Form 10-K/A on February 28, 2020, and its periodic reports on Form 10-Q and Form 8-K. Any statements contained herein that do not describe historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results, performance and achievements to differ materially from those discussed in such forward-looking statements. The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to update or revise forward-looking statements, except as otherwise required by law, whether as a result of new information, future events or otherwise.
KEYTRUDA® is a registered trademark of Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc., Kenilworth, N.J., USA.
Advaxis, Inc.
Selected Balance Sheet Data
(In thousands)
January 31, October 31,
2020 2019
Cash and cash equivalents $ 34,156 $ 32,363
Total assets $ 51,348 $ 45,257
Total stockholders’ equity $ 41,548 $ 39,531
STATEMENTS OF OPERATIONS
(in thousands, except share and per share data)
Three Months Ended
January 31,
2020 2019
Revenue $ 3 $ 19,689
Operating expenses*
Research and development expenses 4,859 6,707
General and administrative expenses 3,030 2,666
Total operating expenses 7,889 9,373
(Loss) income from operations (7,886 ) 10,316
Net changes in fair value of derivative liabilities (37 ) 2,409
Other income and taxes 66 92
Net (loss) income $ (7,857 ) $ 12,817
Net (loss) income per common share, basic and diluted $ (0.15 ) $ 2.76
Weighted average number of common shares outstanding, basic 51,412,408 4,642,718
Weighted average number of common shares outstanding, diluted 51,412,408 4,642,817
* Includes stock-based compensation as follows:
Research and development $ 91 $ 323
General and administrative 151 299
$ 242 $ 622
I was talking about 2018 when Ken announced winding Aim2Cerv trial down in June to then reactivate it few months later. The final nail in the head was put in 2019. Did we have a wink-wink then?