Advaxis, a Phase 1 biotech developing neoantigen-directed immunotherapies for cancer, filed on Thursday with the SEC to raise up to $25 million in an initial public offering. The company is currently listed on the OTCQX (ADXS).
Because the company plans to offer warrants, Advaxis will be excluded from Renaissance Capital's 2022 IPO stats.
Advaxis believes that its current pipeline evaluating off-the shelf, neoantigen-directed immunotherapies can address significant unmet needs in the current oncology treatment landscape. The first drug from this program is ADXS-503, which has been designed to treat non-small cell lung cancer. In July 2021, the company announced the initiation of a Phase 1 study evaluating the second drug from this program, ADXS-504, in patients with biochemically recurrent prostate cancer.
The Monmouth Junction, NJ-based company was founded in 1987 and booked $2 million in revenue for the 12 months ended January 31, 2022. It plans to list on the Nasdaq under the symbol ADXS. A.G.P. is the sole bookrunner on the deal. No pricing terms were disclosed.
