Advaxis, Inc. (OTC:ADXS) Surges 40% In Value Upon a Medical Presentation
The shares of Advaxis, Inc. (OTC:ADXS) soared 39% yesterday as the developer of next generation immunotherapies for life-threatening diseases announced its participation in an annual medical forum, giving no details whatsoever regarding what exactly will be presented.
Closing trade at $0.0465 per share, ADXS registered a 38.81% improvement over its previous close. Shifting in excess of 9.6 million shares, the stock set a new six-month high volume. Thus, ADXS made a serious attempt to rally back to its late-November level when the stock was traded at $0.05-0.06 per share.
Since the company provided no additional information about its Jan. 8 presentation, today’s market performance will hardly be affected by the former. To ensure sustainable chart growth however, ADXS had better fix the great discrepancy between its total assets of $5.6 million and its current market cap of $18+ million. Unfortunately, this would rather be a mission impossible for the time being. See the figures for yourselves:
- total current assets – $1.6M
- total current liabilities – $10.9M
- net loss for the fiscal year ended Oct. 31, 2011 – $8M
- net loss incurred for the annual period ended Oct. 31, 2010 – $10.8M
- accumulated loss since inception – $35.5M.
The company’s main product candidate, the ADXS-HPV, is said to be undergoing as many as four clinical trials. The successful completion of any of them will mark a cornerstone for ADXS. As of now, however, this could only be looked upon as a possible best-case scenario.