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September 24, 2009
Over-The-Counter Exchange Temporarily Changes Ticker Symbol to ADXSE
NORTH BRUNSWICK, N.J.-- September 24, 2009 --Advaxis, Inc. (OTCBB: ADXS), the live, attenuated Listeria monocytogenes (Lm) vaccine company, announced today that the Company's ticker symbol has been temporarily changed to ADXSE denoting untimely filing of the Company’s July 31, 2009 Third Quarter and Nine-Month Form 10-Q as required by the OTC Bulletin Board.
The Company anticipates having the “E” lifted tomorrow, Friday, September 25, 2009 and normal trading under the “ADXS” ticker symbol to resume at the open.
“Unanticipated technical requirements created the need for our accounting team to do extensive variable accounting for our recent debt offering,” commented Advaxis Chairman & CEO Thomas A. Moore. “Our accounting personnel worked diligently to meet the timing requirements for a timely filing of our 10-Q but unfortunately fell short of the deadline. As of today, September 24, 2009 Advaxis was in compliance with our obligation to file.”
About the Company
Based in North Brunswick, New Jersey, Advaxis is developing proprietary Listeria monocytogenes (Lm) cancer vaccines based on technology developed by Dr. Yvonne Paterson, professor of microbiology at the University of Pennsylvania and chairperson of Advaxis’ scientific advisory board. Advaxis is developing attenuated live Lm vaccines that deliver engineered tumor antigens, which stimulate multiple simultaneous immunological mechanisms to fight cancer.
In a recent Advaxis Phase I clinical trial, a live Lm vaccine directed against the tumor-associated antigen HPV-16-E7 was safely administered to fifteen (15) women with advanced metastatic cancer of the cervix. Although this first trial of an Lm vaccine in humans was not designed or powered to prove efficacy, Advaxis believes an efficacy signal was observed that will be further explored in two (2) planned Phase II trials in the US and India in cervical cancer and its predecessor condition, cervical intraepithelial neoplasia (CIN). Advaxis now has nine (9) distinct cancer fighting constructs in various stages of development, both directly and with academic collaborators. For further information on the Company, please visit: www.advaxis.com.
Forward-Looking Statements
Certain statements contained in this press release are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company’s current plans, intentions, beliefs and expectations and statements of future economic performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences include those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company cannot guarantee its future results, levels of activity, performance or achievements.
