Advaxis, Inc. (ADXS) Summaries Bright Outlook for 2013 with High Expectations
Advaxis, a clinical-stage biotechnology company developing the next-generation of immunotherapies for cancer and infectious diseases, provided a comprehensive business outlook for this year including its plans to advance its lead product candidate, ADXS-HPV, for the treatment of recurrent/refractory cervical cancer.
Based on establishing proof of concept in the Phase 2 clinical study being conducted in India in 110 patients with recurrent/refractory cervical cancer, Advaxis anticipates designing and preparing the launch of a Phase 3 registration program with ADXS-HPV, its proprietary immunotherapy product candidate for the treatment of cervical cancer. The company also announced that management is committed to continuing to strengthen its financial position, executing its strategic priorities, and achieving multiple clinical milestones for 2013.
Thomas A. Moore, Chairman and CEO of Advaxis, stated, “In 2012, we made significant advancements on multiple fronts, and now we see a clear path moving forward. Specifically, on the clinical front we are pleased with the progress of our ongoing Phase 2 clinical studies in recurrent/refractory cervical cancer. We have achieved proof of concept and continue to build a solid body of consistent and encouraging safety and efficacy data. We are now preparing to advance our proprietary lead product candidate, ADXS-HPV, towards a registration development program. We are confident that we will have a prominent position in this significant unmet medical need and we believe we will continue to build tremendous additional value in this program as we advance it towards registration and further dialogue with potential licensing partners.”
“We believe that with our progress with ADXS-HPV, the continued strengthening of our financial situation, the bolstering of our management team, and the significance of our near-term clinical milestones, Advaxis is fundamentally stronger today than ever before. We believe we have all of the key elements in place for a transformational 2013,” Moore added.
Daniel J. O’Connor, SVP and Chief Business Development and Legal Officer of Advaxis, commented, “The Company has never been more primed for a transformational year and I am convinced that we are poised for success. We remain committed to scientific excellence, strong operational execution, and are excited by the enormous potential of our proprietary technology platform.”
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