Advaxis, Inc. Announces Proposed Underwritten Public Offering of Common Stock and Warrants
September 06 2018 - 4:08PM
Business Wire
Advaxis, Inc. (Nasdaq:ADXS) (“Advaxis” or the “Company”)
announced today that it intends to offer and sell in an
underwritten public offering shares of its common stock, with each
share of common stock to be sold together in a fixed combination
with a warrant to purchase common stock. The offering is subject to
market 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.
Cantor Fitzgerald & Co. and Oppenheimer & Co. Inc. are
acting as joint book-running managers for the offering.
The Company intends to use the net proceeds of the offering to
fund its continued research and development initiatives in
connection with expanding its product pipeline and for other
general corporate purposes, including, but not limited to (i)
progression of ADXS-HOT into clinical research in both monotherapy
and combination therapy; (ii) investment in ongoing clinical
research in ADXS-PSA and ADXS-NEO, both in monotherapy and
combination therapy; and (iii) investment in ongoing clinical
research with axalimogene filolisbac in head and neck cancer and
other HPV associated cancers, including any wind down costs
associated with ongoing trials.
The securities described above will be offered by the Company
pursuant to a "shelf" registration statement (File No. 333-226988)
previously filed with the Securities and Exchange Commission (the
"SEC") on August 23, 2018 and declared effective by the SEC on
August 30, 2018.
The offering may be made only by means of a prospectus
supplement and the accompanying prospectus. 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. A preliminary prospectus supplement and the
accompanying prospectus related to the offering will be filed with
the SEC and will be available on the SEC's website at
http://www.sec.gov, copies of which can be obtained, when
available, from Cantor Fitzgerald & Co., Attention: Capital
Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by
email at prospectus@cantor.com, or from Oppenheimer & Co. Inc.,
Attention: Syndicate Prospectus Department, 85 Broad Street, 26th
Floor, New York, New York 10004, by telephone at 212-667-8055, or
by email at EquityProspectus@opco.com.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Advaxis
Advaxis (NASDAQ:ADXS) 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
are believed to be a significant advancement in immunotherapy as
they 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 preclinical development: HPV-associated
cancers, neoantigen therapy, hotspot/ cancer antigens and prostate
cancer.
Forward-Looking Statements
This press release contains forward-looking statements that
involve a number of risks and uncertainties, including but not
limited to: statements regarding the timing, success and
anticipated use of proceeds for the proposed offering. For those
statements, we claim the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. The factors that could cause our
actual results to differ materially from such forward-looking
statements include: market and other conditions and other risk
factors identified from time to time in our reports filed with the
SEC. Any forward-looking statements set forth in this press release
speak only as of the date of this press release. We do not intend
to update any of these forward-looking statements to reflect events
or circumstances that occur after the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20180906005950/en/
Investors:LHA Investor RelationsMiriam Weber Miller,
212-838-3777mmiller@lhai.comorAdvaxis,
Inc.Ranya Dajani, 609-250-7559dajani@advaxis.com
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