In a research report sent to investors, H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Advaxis Inc (NASDAQ:ADXS) with a $14 price target, following Wednesday’s news that the Gynecologic Oncology Group (GOG) sponsored Phase 2 study with ADXS-HPV for the treatment of persistent or recurrent cervical cancer has successfully completed the first stage of the two-stage study.
Ramakanth observed, “Some market commentators have raised concerns regarding data from the previous Phase 2 study conducted in India. We believe the positive data from this GOG study, the first ADXS-HPV clinical study conducted in the US by a prominent cancer research group, alleviates some of the apprehension. Note that GOG has also agreed to collaborate with Advaxis to conduct the pivotal study. We expect the Phase 3 trial to start in 2H15, pending the special protocol assessment of the study design by the US Food and Drug Administration.”
Advaxis, Inc., a clinical stage biotechnology company, focuses on the discovery, development, and commercialization of Lm-LLO cancer immunotherapies in the United States.