Here's Why Advaxis, Inc. Stock Is Getting Pummeled Today
Shares of Advaxis, Inc. (NASDAQ: ADXS), a clinical-stage biotech developing novel cancer immunotherapies, are sinking after the company provided a business update along with a third-quarter earnings report after the bell yesterday. Investors weren't impressed with the amount of progress achieved so far this year, driving the stock 16.4% lower as of 11:50 a.m. EDT during Tuesday's trading session.
Advaxis' core technology involves altering a strain of Listeria bacteria in a way that stimulates patient immune cells to recognize and attack cancer cells. The company is still preparing a marketing application submission for European regulators that it expects to complete by the end of the year. If accepted, it could lead to conditional approval to treat certain forms of cervical cancer.
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Source: Fool.com