February 19, 2010
ADVAXIS ANNOUNCES YEAR END 2009 RESULTS
____________________________
Results Conference Call Scheduled for Thursday, February 25, 2010
Dial-in: +1 (218) 862-6400 | Call Code: 346-0141# | Time: 4:30 pm EST
North Brunswick, NJ – February 19, 2010 – Advaxis, Incorporated (OTCBB: ADXS), the live, attenuated Listeria monocytogenes immunotherapy company, today reported results for the fiscal year-ended October 31, 2009.
Net income for the year ended October 31, 2009 totaled $929,244 as compared with a net loss of $5,416,418 for the corresponding period in 2008.
Earnings before interest and taxes (EBIT) for the year ended October 31, 2009 totaled $7,221 as compared with a loss before interest and taxes (LBIT) of $5,416,418 for the corresponding period in 2008.
Cash-on-hand for the year ended October 31, 2009 was $659,822 as compared with $59,738 for the corresponding period in 2008.
Income per share (basic and diluted) for the year ended October 31, 2009 was $0.01 as compared with a loss per share of $0.05 for the corresponding period in 2008.
Conference Call
Advaxis cordially invites you to participate in our earnings conference call on Thursday February 25, 2010 at 4:30 pm EST. To take part in the conference call, please dial +1 (218) 862-6400 | Call Code: 346-0141# a few minutes before the 4:30 EST start time. As participation is limited, please email ir@advaxis.com or fax (732) 545-1084 Attn: Investor relations, to ensure a bridge line.
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.
For Further Information:
Conrad Mir
Executive Director
Advaxis, Incorporated
732.545.1590 (Office)
732.545.1084 (FAX)
mir@advaxis.com
www.advaxis.com