Biotech Values

[DewDiligence]

ADXS sold 3.1M shares @$7.50 in a direct placement yesterday:

http://finance.yahoo.com/news/advaxis-completes-23-million-financing-171500525.html

Adage Capital Management, L.P. ("Adage"), Broadfin Capital LLC, Sectoral Asset Management, Cormorant Asset Management and certain funds and accounts managed by T. Rowe Price Associates, Inc. participated in this financing along with another institutional investor. Following the close of the transaction, Adage will own approximately 19% of the outstanding shares of Advaxis. Proceeds from this financing will be used primarily to fund the continued clinical development of Advaxis's cancer immunotherapy pipeline.

With the liquidity overhang removed, ADXS shares rose 15% yesterday.