Advaxis, Inc. (NASDAQ:ADXS) announced two abstracts were selected for presentation at the 32nd annual Society for Immunotherapy of Cancer (SITC) meeting. The conference is renowned for its scientific exchange, education and mission to improve patient outcomes through advancement of science and the cancer immunotherapy field.
Both poster presentations feature Advaxis’ proprietary Listeria monocytogenes (Lm)-based technology. The first presentation, “ADXS-PSA immunotherapy increases the magnitude and quality of prostate cancer antigen-specific T cell responses in patients with metastatic castration-resistant prostate cancer,” will feature data from Advaxis’ clinical trial with ADXS-PSA. The presentation examines the frequency and functionality of the T cell response not only specific to its target antigen, but to other prostate cancer antigens.
This data builds on what was presented at CICON 2017 and is the first time that an Lm-based vector targeting a self protein – PSA – can increase the frequency and functionality of T cells reactive to PSA as well as to other prostate cancer antigens. As one of Advaxis’ four focus franchises, prostate cancer could be a significant value creator to expand the Lm platform into new tumor types. The data will be presented by Sandy Hayes, Ph.D., senior director of research and biomarker lead at Advaxis.
The second poster presentation, “Listeria monocytogenes-based immunotherapies alter the suppressive phenotype of intratumoral regulatory T cells,” spotlights preclinical data pointing to a potential key mechanism for inducing and sustaining infiltration of tumor-specific T cell effectors. The data will be presented by Rachelle E. Kosoff, Ph.D., senior scientist of research at Advaxis.
“We’re grateful to be sharing these meaningful findings with the rest of the immunotherapy community,” said Dr. Robert Petit, chief scientific officer at Advaxis. “Each poster presentation allows members of our field to discuss new findings and approaches, with the goal of bringing improved treatment options to patients.”
SITC takes place at Maryland’s National Harbor in the Gaylord National Hotel and Convention Center from Nov. 8 – 12, 2017. The conference focuses on improving outcomes for current and future patients with cancer by incorporating strategies based on basic and applied immunotherapy. (Original Source)
Shares of Advaxis shares are currently trading at $4.68, down $0.27 or -5.40% in trading Tuesday. ADXS has a 1-year high of $12.66 and a 1-year low of $4.77. The stock’s 50-day moving average is $6.24 and its 200-day moving average is $7.37.
On the ratings front, Advaxis has been the subject of a number of recent research reports. In a report issued on September 15, H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on ADXS, with a price target of $23, which implies an upside of 365% from current levels. Separately, on September 11, Cantor Fitzgerald’s Mara Goldstein maintained a Buy rating on the stock and has a price target of $19.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Swayampakula Ramakanth and Mara Goldstein have a yearly average loss of -5.7% and -1.1% respectively. Ramakanth has a success rate of 34% and is ranked #4441 out of 4651 analysts, while Goldstein has a success rate of 44% and is ranked #3821.
Advaxis, Inc. is a clinical-stage biotechnology company, which intends to develop immunotherapies for cancer and infectious diseases. The company’s platform technology is designed to generate a comprehensive immune response by serving as its own adjuvant, directing antigen presentation, increasing tumor infiltrating killer T-cells, and decreasing Tregs/MDSCs in the tumor.