As previously reported, in December 2018 the Company received notice from Amgen of its intent to terminate its collaboration in the ADXS-NEO program. As a result, the Company adjusted its measure of progress for its performance obligations under the collaboration agreement and, based on the modified service period, reported incremental revenue of $15.6 million in the first quarter of fiscal year 2019.
$15.6 million was pro-rated revenue received from Amgen agreement.
Also, cash on hand increased from $32M to $44M (by $12M which is the net income), not decreased:
January 31,
2018 October 31,
(Unaudited) 2018
Cash and cash equivalents $ 32,710 $ 44,141
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