Shares of the Advaxis Inc (ADXS) stock rose in the pre-market on August 26, 2021, despite no recent news. ADXS stock price saw a push of 9.46% to reach $0.48 a share as of this writing. ADXS was green in the previous trading session and went up by 3.11% at closing. Let’s deep dive to explore more of it.
What’s Happening with ADXS stock?
Advaxis Inc is the biotech stock that is developing and commercializing proprietary Lm-based antigen delivery products in the U.S. There is no Advaxis stock-specific news today not even in the previous week to justify the bullish sentiment. Sometimes stock gets hype as a result of analyst upgrades, but this is not the case for this particular stock. It seems that Advaxis stock is getting momentum due to positive sentiment in the social media platforms like Reddit, StockTwits, etc. At this point, it is better to discuss some recent events of this stock.
Nasdaq Grants ADXS stock an Extension to November 22, 2021:
On August 11, 2021, ADXS stock reported that it had received a letter from Nasdaq. The letter stated that the Nasdaq Hearing panel is willing to grant ADXS stock an extension through November 22, 2021, to follow its 1.00 Minimum Bid Price Rule and completion of its merger with Biosight, Ltd. ADXS stock signed the merger agreement with Biosight, Ltd back on July 6, 2021. Biosight is a pharmaceutical company that is engaging to develop therapeutics hematological malignancies and disorders.
Phase 1 Clinical Trial of ADXS-504
In July, ADXS stock did announce the beginning of phase 1 clinical trial of ADXS-504. The purpose of this clinical trial is to evaluate the ADXS-504 in patients suffering from biochemically recurrent prostate cancer. The team conducted a study at Columbia University Irving Medical Center. The study team will mainly analyze ADXS-504 safety, tolerability, and clinical activity in males with the following characteristics.
- Men who had undergone radiotherapy or radical prostatectomy.
- Men with rising prostate-specific antigen (PSA) levels in the blood.
The study will also focus on examining the lowest dose of Lm-based immunotherapy to date.
Conclusion:
ADXS stock became hot among investors on social media platforms despite the absence of any specific news. The stock has a market cap of 63.73 million- and a 52-week range of 0.2640 – 1.5700. The year 2021 has been good so far for this stock as it gained 4.19% year-to-date.
