Advaxis, Inc. (NASDAQ:ADXS) announced that the company’s proprietary bacterial vector system, its Lm Technology™, was the focal point of a luncheon during the 1st Annual International Congress on Immunotherapies in Cancer: Focus on Practice-Changing Application on Dec. 10, 2016.
Advaxis Chief Scientific Officer Robert Petit, PhD, joined congress co-chairs Antoni Ribas, MD, PhD, Director of the Tumor Immunology Program, Jonsson Comprehensive Cancer Center and Naiyer Rizvi, MD, Director of Thoracic Oncology, to discuss Lm Technology and highlight the two newest applications of Advaxis’ Listeria monocytogenes bacterial vector system, ADXS-NEO and ADXS-HOT.
“Advaxis’ bioengineered attenuated strain of listeria has demonstrated significant therapeutic potential in its ability to stimulate T-cell responses against tumors cells and reduce the tumor cell’s own defense systems,” said Ribas. “This platform has broad clinical potential in multiple cancer types.”
Dr. Petit provided information on the preclinical ADXS-HOT program, which will utilize the company’s Lm Technology to develop constructs that will target tumor driver genes that carry mutations occurring in hotspots. These hotspots, often called public mutations, are commonly observed in multiple patients’ tumors and found in multiple tumor types. With ADXS-HOT, Advaxis will be developing a library of off-the-shelf agents that can be administered to patients with cancer who test positive for biomarkers that detect common genetic mutations. These constructs will be available for immediate use, thereby reducing the turnaround time between a patient’s biopsy and the start of treatment. The company will initially focus on constructs targeting several of the most critical mutations in tumor driver genes associated with many cancers and plans to file an IND for ADXS-HOT in the second half of 2017.
“We know from the analysis of tens of thousands of tumor specimens that some of these hotspots are present and shared by multiple patients across most tumor types. The ADXS-HOT program gives us an opportunity to provide a mutation targeted, off-the-shelf approach against these mutations that could represent a significant therapeutic option for multiple cancer patient populations, and may avoid some of the immune tolerance that impedes non-mutated tumor targets,” Petit said.
Earlier this year, Advaxis announced a global collaboration with Amgen to develop its MINE™ (My Immunotherapy Neo-Epitopes) program and ADXS-NEO, which is designed to activate a patient’s immune system to respond against the unique mutations, or neoepitopes, contained in each individual patient’s tumor by using parallel DNA sequencing. Unlike ADXS-HOT for public hotspots, ADXS-NEO is directed at patient-specific mutations. The company recently joined the Parker Institute for Immunotherapy and the Cancer Research Institute, along with other industry and academia leaders, to further the research of neoepitope-based immunotherapies. (Original Source)
Shares of Advaxis closed last Friday at $8.92, up $0.09 or 1.02%. ADXS has a 1-year high of $16.30 and a 1-year low of $5.21. The stock’s 50-day moving average is $8.99 and its 200-day moving average is $9.90.
On the ratings front, Advaxis has been the subject of a number of recent research reports. In a report issued on November 29, Cantor Fitzgerald analyst Mara Goldstein initiated coverage with a Buy rating on ADXS and a price target of $19, which represents a potential upside of 113% from where the stock is currently trading. Separately, on November 16, H.C. Wainwright’s Swayampakula Ramakanth reiterated a Buy rating on the stock and has a price target of $23.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Mara Goldstein and Swayampakula Ramakanth have a yearly average return of 1.6% and a loss of -18.9% respectively. Goldstein has a success rate of 43% and is ranked #1540 out of 4273 analysts, while Ramakanth has a success rate of 27% and is ranked #4183.
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.