ADXS - Advaxis gives business update and provides 2020 FY results

Clinical-stage biotech Advaxis ([[ADXS]] +1.2%) highlighted important clinical and biomarker data from the ongoing Phase 1/2 study of ADXS-503 in Nonsmall-cell lung carcinoma ((NSCLC)) during 2020, and provides full-year 2020 results.The company also talked up its clinical strategy to explore the full potential of its cancer treatment ADXS-503 to improve responses to checkpoint inhibitors across diverse clinical settings and patient populations.Net loss for Advaxis widened to $26.5M in 2020, compared with a net loss of $16.6M last year, as loss from operations surged during the period.Advaxis' research and development expenses in 2020 was ~40% lower than the previous year, due to decreases in clinical trial costs, laboratory costs, drug manufacturing process validation and drug stability studies, it said.As of October 31, 2020, Advaxis had cash and cash equivalents of $25.2M, and said that its cash runway is currently expected to take the company through to Q2 2022.

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Advaxis gives business update and provides 2020 FY results