Advaxis Announces Proposed Public Offering of Common Stock
February 21 2018 - 4:05PM
Business Wire
Advaxis, Inc. (NASDAQ:ADXS), a late-stage
biotechnology company (“Advaxis” or the “Company”) focused on the
discovery, development and commercialization of cancer
immunotherapies, today announced that it intends to offer and sell
shares of its common stock in an underwritten public offering.
Advaxis intends to grant the underwriters a 30-day option to
purchase up to an additional 15% of the number of shares of common
stock sold offered in the offering at the public offering price,
less the underwriting discounts and commissions. All of the shares
in the offering will be sold by Advaxis.
Jefferies and Guggenheim Securities are acting as joint
book-running managers for the offering.
Advaxis intends to use the net proceeds from the public
offering, if any, to fund its continued research and development
initiatives in connection with expanding the Company’s product
pipeline and for other general corporate purposes. This includes,
but is not limited to (i) investment in ongoing clinical research
with Axalimogene Filolisbac, ADXS-PSA and ADXS-NEO, both in
monotherapy and combination therapy; (ii) expansion of research
with Axalimogene Filolisbac, ADXS-PSA and ADXS-NEO to additional
indications and collaborations; and (iii) progression of
pre-clinical constructs including but not limited to ADXS-HOT, into
clinical research in both monotherapy and combination therapy.
The offering may be made only by means of a prospectus
supplement and accompanying prospectus forming part of a previously
filed shelf registration statement on Form S-3 (File No.
333-216008) that was declared effective by the Securities and
Exchange Commission (SEC) on March 20, 2017. A preliminary
prospectus supplement and the accompanying prospectus relating to
and describing the terms of the offering will be filed with the SEC
and will be available on the SEC's website located at www.sec.gov.,
copies of which may be obtained, when available, from Jefferies
LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, New York, 10022, or by telephone at
877-547-6340, or by email at prospectus_department@jefferies.com or
Guggenheim Securities, LLC, Attention: Equity Syndicate Department,
330 Madison, 8th Floor, New York, New York 10017, or by telephone
at (212) 518-9658, or by email to
GSEquityProspectusDelivery@guggenheimpartners.com.
The proposed offering is subject to market and other conditions,
and there can be no assurance as to whether or when the offering
may be completed, or as to the actual size or terms of the
offering. Before investing in the offering, you should read in
their entirety the prospectus supplement and the accompanying
prospectus and the other documents that Advaxis has filed with the
SEC that are incorporated by reference in the prospectus supplement
and the accompanying prospectus, which provide more information
about the Company and the offering.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Advaxis, Inc.
Advaxis, Inc. is a late-stage biotechnology company focused on
the discovery, development and commercialization of proprietary
Lm-based antigen delivery products. These immunotherapies are based
on a platform technology that utilizes live attenuated Listeria
monocytogenes (Lm) bioengineered to secrete antigen/adjuvant fusion
proteins. These Lm-based strains integrate multiple functions into
a single immunotherapy, and are designed to access and direct
antigen presenting cells to stimulate anti-tumor T-cell immunity,
activate the immune system with the equivalent of multiple
adjuvants and simultaneously reduce tumor protection in the tumor
microenvironment to enable the T cells to eliminate tumors. Advaxis
has four franchises in various stages of clinical and near-clinical
development: HPV-associated cancers, individualized neoantigen
immunotherapy, cancer-specific hotspot mutation immunotherapies and
prostate cancer.
Forward-Looking Statements
This press release contains forward-looking statements,
including, but not limited to: statements regarding the timing,
success and anticipated use of proceeds for the proposed offering.
These forward-looking statements are subject to a number of risks,
including market and other conditions and the risk factors set
forth from time to time in Advaxis’ SEC filings, including but not
limited to its report on Form 10-K for the fiscal year ended
October 31, 2017, which is available at http://www.sec.gov, as
well as the risks identified or incorporated by reference in the
registration statement and the prospectus supplement relating to
the offering. Advaxis undertakes no obligation to publicly release
the result of any revision to these forward-looking statements,
which may be made to reflect the events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events,
except as required by law. You are cautioned not to place undue
reliance on any forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20180221006369/en/
Company:Advaxis, Inc.Noelle Heber, (609) 250-7575Sr.
Director Corporate Communications and Government
AffairsHeber@advaxis.comorMedia:Stern Strategy GroupBrian
Hyland, (908) 325-3891Bhyland@sternstrategy.comorRachel Auerbach,
(908) 325-3898Rauerbach@sternstrategy.comorInvestors:LHA
Investor RelationsAnne Marie Fields, (212)
838-3777afields@lhai.com
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