Yesterday, Advaxis, Inc. (OTC:ADXS) slid down 3.27% to$0.145 on a volume of 913 thousand shares.
The trading activity was two times higher than the daily average. In fact, the two sessions of ADXS were both accompanied by a markedly higher trading volume than usual.
The thing which caused more activity among investors was the press release published yesterday on OTC Markets through the Business Wire system. The publication announced VPRO had completed the pre-IND meeting for ADXS-HER2.
On November 22, ADXS had been accepted by the FDA to discuss the development plan for ADXS-HER2, which is an hypnotherapy for the treatment of HER2 expressing cancers.
The company states the FDA had provided them with guidance on the initiation of the clinical trial. According to the announcement, the IND is planned to be submitted in the first half of 2012.
Apparently, the news has brought more attention to the company, which also brought more trading volume. However, the effect on the share price was not very strong.
Thus, ADXS continues to move within the trading rage which the stock entered at the end of October. On this account, the market attention will be focused on this stage in order to monitor how long ADXS will consolidate in the established channel.
