Shares of Advaxis Inc (NASDAQ: ADXS), engaged in the development of safe and effective immunotherapies for cancer and infectious diseases, recorded over 15.0% gain during each of the past two consecutive trading sessions with significant number of shares exchanging hands. ADXS was the top performer in the U.S. healthcare sector after gaining 30.3% and closed at $7.31 Monday, while recording significant trading volumes of 3.8 million shares. ADXS has recently announced the execution of definitive securities purchase agreements with two institutional investors for gross proceeds of approximately $16.7 million by offering 3.9 million shares at a price of $4.25 per share with an intention to use the proceeds primarily to fund the continued clinical development of Advaxis’s cancer immunotherapy pipeline. The company also gained acceptance from U.S. Food and Drug Administration (FDA) to Its Investigational New Drug (IND) application to commence clinical trials of ADXS-HPV alone or in combination with MedImmune’s MEDI4736 for the treatment of HPV-associated cancers. During the past 5-trading sessions, ADXS gained 67.3% with daily average trading volumes of 1.2 million shares, while the stock accumulated 147.8% gain during the past one month with daily average trading volumes of 382,569 shares. The stock is up 72.4% year-to-date.
Company Description:
Advaxis Inc. (NASDAQ: ADXS) is a biotechnology company. The company develops therapeutic cancer vaccines targeting cervical, head & neck, breast, prostate, and other cancers.
1-Year Stock Chart:
Source: Bloomberg
