Biotech Values

[DewDiligence]

ADXS—Let’s assume for the sake of discussion that NEO has a manufacturing problem. (We know that NEO did have a manufacturing problem that delayed the start of phase-1 by more than a year—from Mar 2017, when the IND was cleared, until Jun 2018, when the first patient was dosed.)

Under the now-terminated collaboration with AMGN, ADXS was responsible for manufacturing; however, ADXS plainly lacks the financial resources to correct a non-trivial problem in the production process for a personalized vaccine like NEO. If AMGN balked at picking up these costs, dissolving the partnership may have been the only remedy.

In any case, you make an excellent point regarding the relatively high production cost. I.e., only the biggest drug/biotech firms are potential candidates for re-partnering ADXS-NEO, if the program continues at all.