Advaxis, Inc. (NASDAQ: ADXS) is making a run for the top in the market this morning. However, if you go digging for press releases or SEC filings, you’re not going to find anything. So, what’s the deal? Today, we’ll talk about:
- Why ADXS stock is running for the top;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Here’s Why ADXS Stock Is Up
As mentioned above, Advaxis is having a great day in the market today. However, with no press releases or SEC filings out, many investors are scratching their heads, wondering what’s going on.
The gains are likely associated with the company’s recent presentation. In fact, yesterday, the company presented data at the American Association for Cancer Research annual meeting.
The data that was presented by ADXS was released late last week. The presentation was provided via poster, which was titled “Safety and Immunogenicity of a Personalized Neoantigen-Listeria Vaccine in Cancer Patients.”
ADXS-NEO is a live, attenuated Listeria monocytogenes (Lm) immunotherapy. The therapy uses personalized antigen delivery based on whole-exome sequencinf of a patient’s tumor to identify personal neoantigens.
The ongoing Phase 1 trial is designed to evaluate the safety, tolerability and preliminary clinical immunological activity of ADXS-NEO alone (Part A) and in combination with anti-PD-1 antibody therapy (Part B) in subjects with certain types of advanced or metastatic solid tumors.
In a statement, Andres Gutierrez, M.D., Ph.D., CMO at ADXS, had the following to offer:
The patients being evaluated for safety and tolerability in Part A all have late-stage disease and have been treated with numerous prior therapies. As a result, we did not expect to observe significant clinical activity in this cohort.
Nevertheless, we have seen some encouraging clinical signals to date, including one patient at dose level 1 with non-small cell lung cancer who achieved stable disease after only two doses of ADXS-NEO, which is consistent with rapid immune activation.
This is the first presentation of clinical data from our ADXS-NEO program at a major medical conference. We are continuing to enroll subjects and gather additional clinical and immune correlative data, and plan to share updated data from this study throughout this year.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news leads to moves in the market. When it comes to Advaxis, the news proved to be overwhelmingly positive.
Not only is data to date suggesting that the company is onto something here, the company also presented at a highly reputable conference. This presentation opened the door to relationships with larger investors, likely helping to drive the movement that we’re seeing today.
So, it’s not surprising to see that the stock is headed up in the market today. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:46), ADXS is trading at $8.66 per share after a gain of $2.74 per share or 46.45% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ADXS. In particular, we’re interested in following the continued work to bring ADXS-NEO product to patients in need. Nonetheless, we’ll continue to follow the story closey and bring the news to you as it breaks!
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