been rising up impressively over the past days.Yesterday, ADXS managed to trade over 1 million shares and soared 3.33% on the market. Apparently, something has happened and traders started to buy shares heavily.
The most reasonable explanation on the high trade seems to be the recent news, released by Advaxis.
Last week, the company announced that it has completed the recruitment of the first 11 patients in its US cervical dysplasia study. According to the announcement, the portion of the study “will complete recruitment and should be able to be reported on or about September 2011”.
Although there is about a year until reporting the results, it seems that the news has encouraged investors and ADXS started to climb.[BANNER]
Advaxis is a biotechnology company developing proprietary Listeria monocytogenes vaccines that deliver engineered tumor antigens, which stimulate multiple simultaneous immunological mechanisms to fight cancer.
In May, the stock was on a high trade, though its price began to move down shortly and currently ADXS trades about 50% lower.
As already mentioned on hotstocked.com, in August this year the company has issued 9.8 million common shares for some “other activity going on”, however, no more details on the issue have been provided. Besides, the financial condition of Advaxis doesn’t look much promising. The company has much higher liabilities than assets on its balance sheet and should search for cash to pay the big losses.
Meanwhile, the management of Advaxis claims that the losses are expected to continue.
