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Advaxis rockets after promising data from key prostate cancer study unveiled

Data from the Phase 1/2 Keynote study evaluating the cancer immunotherapy ADXS-PSA was presented at the American Association for Cancer Research's annual meeting

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The data for 37 patients taking part in the study showed a median overall survival rate of 21.1 months

Shares of Advaxis (NASDAQ:ADXS) soared Monday thanks to promising data from a Phase 1/2 Keynote-046 evaluating its cancer immunotherapy ADXS-PSA for the treatment of advanced prostate cancer.

The 50-patient study is evaluating ADX-PSA alone as a treatment for metastatic prostate cancer, and in combination with Keytruda, Merck's blockbuster anti-PD-1 cancer therapy.

The data for 37 patients taking part in the study showed a median overall survival rate of 21.1 months, which compares favorably to traditional therapies.

READ: Advaxis shares climb after fiscal 2Q loss comes in better than expected, cash burn subsides

Broader stimulation of the immune system, including B-cell activation, was also observed when ADX-PSA was taken with Keytruda. The combination of ADXS-PSA and Keytruda was well tolerated by participating patients as well.

In response to these results, Advaxis shares climbed 16.4% to $6.86 in afternoon trade.

“Based on the prolonged survival data and strong safety profile to date, we believe that continued clinical development of ADXS-PSA in combination with Keytruda is warranted and represents a potentially significant opportunity for Advaxis,” said Kenneth Berlin, CEO of Advaxis, in a statement.

News of the promise of clinical findings for ADXS-PSA comes on the heels of preliminary data from a Phase 1 trial of ADX-NEO, another of the company’s cancer immunotherapies, showing “substantial” anti-tumor activity.

Data from both studies were presented at the American Association for Cancer Research’s annual meeting taking place this week in Atlanta, Georgia.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Price: 0.3882 USD

NASDAQ:ADXS
Market: NASDAQ
Market Cap: $25.71 m
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