Advaxis, Inc (ADXS) stock has gained 11.31% on the Thursday, April 1, 2021 in the Pre-market session. ADXS’s stock gained 1.43% to close Wednesday’s session at $0.74. The stock volume was 1.9 million shares, which was lower than the average daily volume of 11.63 million shares within the past 50 days.
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Advaxis participation in Biotech Small-Cap Conference
Advaxis participated virtually in the BenzingaBiotech Small-Cap Conference which held on March 24-25, 2021. The company was represented by President and Chief Executive Officer Kenneth A. Berlin.
Recent Financial Results
On March 16, 2021, Advaxis, announced its financial results for the first quarter ended January 31, 2021.
Q1 2021 financial highlights
- General and administrative expenses for the three months ended January 31, 2021, were approximately unchanged at $3 million, compared to $3 million in the same three-month period in 2020.
- It suffered a net loss of $3.9 million or $0.05 per common share (diluted and basic) in Q1 2021, compared with $7.8 million or $0.15 per common share (diluted and basic) in the same quarter in 2020.
- ADXS spent $2.6 million in Research and development expenses in the reported quarter, compared with $4.9 million for the first quarter of the fiscal year 2020.
- ADXS had approximately $33.3 million in cash and cash equivalents, as of January 31, 2021.
Participation in upcoming American Association for Cancer Research Annual Meeting
On March 12, 2021,Advaxis said that it will do the poster presentation of clinical activity observed in the ongoing ADXS-503 clinical trial at the American Association for Cancer Research (AACR) Annual Meeting 2021 which will take place virtually from April 10-15, 2021.
Fiscal year ended October 31, 2020 Highlights
On January 25 ADXS announced its financial results for the fiscal year ended October 31, 2020.
- Advaxis Suffered a net loss of $26.5 million or $0.43 per share for the fiscal year ended October 31, 2020, compared with a net lossof $16.6 million or $1.09 per share for the fiscal year 2019.
- Research and development expenses for the fiscal year 2020 were $15.6 million, compared with $26.7 million for the fiscal year 2019.
- It spent $11.1 million in general and administrative expenses for the year 2020 compared to $12.2 million for the fiscal year 2019.
- Advaxis had cash and cash equivalents of $25.2 million, as of October 31, 2020.
Conclusion:At the moment we don’t have any news to justify its positive momentum except the upcoming clinical trial presentation on April 10, at AACR annual meeting.