Biotech Values

[DewDiligence]

ADXS reverse-merges_into—(private)—Biosight Therapeutics:

https://www.globenewswire.com/news-release/2021/07/06/2258015/0/en/Advaxis-and-Biosight-Announce-Entry-into-Definitive-Merger-Agreement.html

The proposed merger will create a public company that will prioritize the clinical advancement and commercialization of Biosight’s lead product, aspacytarabine (BST-236) [for AML]. The combined company is expected to have approximately $50 million in cash, cash equivalents and marketable securities at closing.

Following the closing, which is expected to occur in the second half of 2021, Advaxis will be renamed Biosight Therapeutics and is expected to trade on the Nasdaq Capital Market under the ticker symbol “BSTX”.

...Upon completion of the merger, Advaxis’s then-current equity holders will own approximately 25% and the former Biosight equity holders will own approximately 75% percent of Advaxis’s common stock, calculated on a fully diluted basis.

ADXS should have implemented a reverse-merger a couple of years ago, instead of diluting shareholders multiple times in pursuit of a fruitless mission.