Advaxis, Inc. (NASDAQ:ADXS), a clinical-stage biotechnology company developing cancer immunotherapies, today announced that the Company has entered into a licensing agreement with Knight Therapeutics Inc. (TSX:GUD) (“Knight“), a Canadian-based specialty pharmaceutical company focused on acquiring, in-licensing, selling and marketing innovative prescription and over-the-counter pharmaceutical products, to commercialize in Canada Advaxis’s product portfolio including its three lead drug candidates: axalimogene filolisbac (ADXS-HPV) for human papilloma virus (HPV)-associated cancers, ADXS-PSA for prostate cancer and ADXS-HER2 for HER2 expressing solid tumors.

In connection with the licensing agreement, Knight is purchasing directly from Advaxis 359,454 shares at $13.91 per share, which represents a 7 percent premium to the price of Advaxis’s common stock at market close on August 25, 2015. In addition, Sectoral Asset Management, a leading Canadian-based global healthcare investment advisor, is purchasing 1,437,815 shares at $13.91 per share directly from Advaxis on behalf of its clients. The combined gross proceeds to Advaxis from these direct investments is $25 million.

“We are extremely gratified to, in one transaction, monetize a non-core market with a well-established local partner, while simultaneously increasing our cash balance under very favorable terms,” said Daniel J. O’Connor, President and Chief Executive Officer of Advaxis. “We have added both a key strategic partner in Knight and a top-tier healthcare institutional investor in Sectoral Asset Management. The license agreement with Knight is consistent with our strategy of focusing our resources in our core geographies.”

Under the terms of the licensing agreement, Knight will be responsible for all commercial activities related to Advaxis current and future products, including axalimogene filolisbac, ADXS-PSA and ADXS-HER2, in Canada. Advaxis is eligible to receive double digit royalty as well as sales milestones.

“We believe Advaxis’s technology has significant potential to treat a multitude of cancers,” said Jonathan Ross Goodman, President and Chief Executive Officer of Knight. “This agreement, as well as our investment in the Company, are representative of our confidence in Advaxis’s future prospects. Upon approval, Knight looks forward to leveraging our local market expertise to maximize the commercial value of axalimogene filolisbac, ADXS-PSA and ADXS-HER2 in Canada.”

“Sectoral Asset Management is pleased to make this significant investment in Advaxis on behalf of our clients,” said Stephan Patten, Deputy Chief Investment Officer of Sectoral Asset Management. “We believe the Company’s promising Lm Technology™ cancer immunotherapy platform, robust clinical pipeline and strong management team with a track record of execution combine to establish a compelling value proposition for Advaxis, and look forward to tracking the Company’s progress going forward.” (Original Source)

Shares of Advaxis Inc closed yesterday at $13. ADXS has a 1-year high of $30.13 and a 1-year low of $2.50. The stock’s 50-day moving average is $16.62 and its 200-day moving average is $17.14.

On the ratings front, Advaxis has been the subject of a number of recent research reports. In a report issued on August 7, MLV & Co. analyst Vernon Bernardino initiated coverage with a Buy rating on ADXS and a price target of $34, which represents a potential upside of 161.5% from where the stock is currently trading. Separately, on June 26, H.C. Wainwright’s Swayampakula Ramakanth reiterated a Buy rating on the stock and has a price target of $30.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Vernon Bernardino and Swayampakula Ramakanth have a total average return of -22.9% and -11.1% respectively. Bernardino has a success rate of 16.9% and is ranked #3712 out of 3730 analysts, while Ramakanth has a success rate of 18.8% and is ranked #3576.

Advaxis Inc is a clinical development stage biotechnology company. The company is engaged in developing safe & effective immunotherapies for cancer & infectious diseases.