Advaxis, Inc. (NASDAQ:ADXS), a clinical-stage biotechnology company developing cancer immunotherapies, today announced that the United States Patent and Trademark Office (USPTO) has granted U.S. Patent No. 9,084,747 with composition of matter claims covering ADXS-HER2. The patent expands Advaxis’s intellectual property portfolio in claiming numerous compositions for the company’s Lm Technology™ immunotherapy candidate designed to target HER2 expressing cancers. The patent also covers methods of using the same compositions for eliciting an immune response against, preventing the onset of, preventing the formation of, impeding a growth of, preventing an escape mutation in the treatment of, or treating a HER2 expressing tumor.
The patent will expire on September 19, 2032, and also covers ADXS-HER2 use for decreasing the frequency of intra-tumoral T regulatory cells, for decreasing the frequency of myeloid derived suppressor cells, or for increasing intratumoral ratio of CD8+/ T regulatory cells.
“We see significant potential for our investigational agents in HER2 expressing cancers,” said Daniel J. O’Connor, President and Chief Executive Officer of Advaxis. “This patent rounds out our portfolio, allowing us to maintain the development of ADXS-HER2 and commence enrollment of the first human trial as planned by year end.”
Currently, Advaxis has 29 granted patents and 37 pending applications in the United States, in addition to having 54 granted foreign patents and 60 pending foreign applications. (Original Source)
Shares of Advaxis Inc closed yesterday at $18.28. 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 $21.45 and its 200-day moving average is $16.01.
On the ratings front, Advaxis has been the subject of a number of recent research reports. In a report issued on June 26, H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on ADXS, with a price target of $30, which implies an upside of 64.1% from current levels. Separately, on June 25, MLV & Co.’s Ram Selvaraju reiterated a Buy rating on the stock and has a price target of $34.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Swayampakula Ramakanth and Ram Selvaraju have a total average return of 19.5% and 11.2% respectively. Ramakanth has a success rate of 41.9% and is ranked #479 out of 3711 analysts, while Selvaraju has a success rate of 48.5% and is ranked #404.
Advaxis Inc is a clinical development stage biotechnology company. The company is engaged in developing safe & effective immunotherapies for cancer & infectious diseases.