Read the Advaxis Report Update: http://equitiesiq.com/reports/advaxis-update/
NEW YORK, NY / March 31, 2014 / EquitiesIQ, a leading informational research provider, has provided an update to its initiation coverage of Advaxis, Inc. (Nasdaq: ADXS). Advaxis is an emerging biopharmaceutical company focused on developing and commercializing its proprietary immunotherapies for the treatment of cancer.
On Friday, March 28th, Advaxis announced that the full over-allotment was exercised in connection with its previously announced underwritten public offering, bringing total gross proceeds to ~$14.1 million from the sale of 4,692,000 shares of common stock at $3.00 per share.
The capital raise came on the heels of Advaxis' recently announced licensing agreement with Aratana Therapeutics. The Advaxis-Artana agreement calls for the global development and commercialization of ADXS-cHER2, the company's candidate to treat canine osteosarcoma (bone cancer in dogs), as well as three additional development-stage immunotherapies.
Deal terms call for Advaxis to receive $2.5M in upfront cash (a $1M license fee plus a $1.5M equity investment by Aratana), as well as up to $52.5M in potential future milestone payments. In addition, Advaxis will receive royalties on sales of products commercialized under the license agreement (tiered royalty payments up to 10%).
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Important Disclosures and Disclaimers
The research report described in this press release has been prepared by EquitiesIQ, LLC on behalf of Advaxis, Inc. (the "Company"), as part of investor relations services provided to Advaxis by EquitiesIQ. EquitiesIQ has been compensated for preparation of the research report and for future coverage, as fully disclosed in the report. David Moskowitz is the author of the report and the views regarding Advaxis expressed in the report accurately reflect the personal views of Mr. Moskowitz regarding Advaxis and its securities, as of the date of the report.
The research report is not an offer or solicitation to buy or sell the securities of the Advaxis. This report is for information purposes only, and is not intended to (and is provided explicitly on the condition that it not) be used as the sole basis to make any investment decision. Investors should make their own determinations whether an investment in any particular security is consistent with their investment objectives, risk tolerance, and financial situation. EquitiesIQ and its affiliates are not recommending any investments based on the information in the research report.
This press release and the research report contain forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. EquitiesIQ does not guarantee the accuracy and comprehensiveness of these predictions. You should not invest in the Advaxis in reliance on these forward-looking statements.
Please read the full disclosures and disclaimers at the end of the report as well as the general disclaimers and terms at EquitiesIQ.com/Disclaimer.