Advaxis, Inc. (NASDAQ:ADXS), a clinical stage biotechnology company developing cancer immunotherapies, today announced that it has entered into a co-development and commercialization agreement with Especificos Stendhal SA de CV (“Stendhal”), for Advaxis’ lead Lm Technology™ immunotherapy, axalimogene filolisbac (ADXS-HPV), in HPV-associated cancers. Stendhal is a privately held Latin American specialty pharmaceutical company that partners with leading drug companies to deliver effective solutions for life-threatening diseases in Latin American markets.
Under the terms of the Agreement, Stendhal will pay $10 million toward the expenses of AIM2CERV, a planned global Phase 3 clinical trial in women with high-risk, locally advanced cervical cancer. This payment covers a significant portion of the total planned study costs. Stendhal will also work with Advaxis to complete the clinical trial of axalimogene filolisbac in Mexico, Brazil, Colombia, and other investigational sites in Latin American countries. Additionally, Stendhal will manage the regulatory approval process, promotion, commercialization and market access for axalimogene filolisbac in these markets. Advaxis and Stendhal will share profits on a pre-determined basis.
Stendhal has a long history of partnering with leading pharmaceutical companies to bring therapies for HIV, infectious disease, and neurologic and cardiovascular disease to its Latin American markets. This new partnership with Advaxis will expand its growing portfolio in oncology and is one of the first of its kind in Latin America to make cancer immunotherapies available in the region.
HPV-related cancer is a looming public health issue in Latin America. According to the World Health Organization, cervical cancer mortality rates are three times higher in Latin America and the Caribbean than in North America. More than 83,000 women are diagnosed annually and, without intervention, mortality is projected to increase to 45 percent by 2030. HPV is also prevalent in 90.4 percent of anal cancer in Latin America and the Caribbean.
“We’re pleased to announce our agreement with Stendhal, which enables us to greatly expand the clinical program for, and the potential impact of, axalimogene filolisbac in HPV-related cancers,” said Daniel J. O’Connor, President and Chief Executive Officer of Advaxis. “We now have the potential to address an important unmet medical need in an area of the world where the rate of HPV-associated cancers is unfortunately extremely high.”
“Our mission is to bring new treatments to Latin America and ensure that patients have access to therapies that have the potential to save their lives. Women throughout our region are facing increasing rates of HPV and the burden of cervical cancer,” said Carlos Arenas, Chief Executive Officer of Stendhal. “It is through partnerships such as this one that we can alter the course of disease and address the health inequalities many in Latin America face.” (Original Source)
Shares of Advaxis closed yesterday at $6.55. ADXS has a 1-year high of $30.13 and a 1-year low of $6.28. The stock’s 50-day moving average is $8.91 and its 200-day moving average is $12.41.
On the ratings front, Advaxis has been the subject of a number of recent research reports. In a report issued on December 17, Janney Montgomery Scott analyst Roy Buchanan assigned a Buy rating on ADXS, with a price target of $22, which implies an upside of 235.9% from current levels. Separately, on December 15, H.C. Wainwright’s Swayampakula Ramakanth reiterated a Buy rating on the stock and has a price target of $30.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Roy Buchanan and Swayampakula Ramakanth have a total average return of -30.9% and -31.7% respectively. Buchanan has a success rate of 11.1% and is ranked #3380 out of 3600 analysts, while Ramakanth has a success rate of 11.1% and is ranked #3579.
Advaxis Inc is a clinical development stage biotechnology company. The Company is engaged in discovery, development and commercialization of Lm-LLO immunotherapies for cancer and infectious diseases.