Print
February 19, 2010
ADVAXIS CHAIRMAN/CEO THOMAS A. MOORE ISSUES STATEMENT
North Brunswick, NJ – February 19, 2010 – Chairman/CEO Thomas A. Moore of Advaxis, Incorporated (OTCBB: ADXS), the live, attenuated Listeria monocytogenes immunotherapy company issued the following statement today.
“Advaxis shares will trade today with an ‘E’ at the end of its ticker symbol, ‘ADXSE.’” This temporary ticker symbol change is due to our inability to file our annual statement in a timely manner, under the US Securities and Exchange Commission’s regulations. It does not however, affect any shareholder’s total share position.
“This temporary shortcoming is a product of the complex accounting required for the debt instruments we have implemented over the past nine months.
“On or before 1330 EST today, we anticipate completing our annual statement, filing and being in compliance shortly thereafter. At such time, we will issue another press release confirming our compliance.
“My executive staff and I remain committed to our shareholders. Today, there is an undeniable groundswell of interest in the scientific community surrounding our Listeria platform, as witnessed by the clinical trial funding support given by the National Cancer Institute and Cancer Research UK. To that end, we stand fast in finding new and innovative ways of furthering this promising science that we believe can someday make a major contribution in the battle against cancer.”
About Advaxis, Inc.
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 recurrent, 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 three (3) planned Phase II trials, to be conducted 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.