Advaxis rockets as FDA lifts hold on clinical trials

Shares of US clinical-stage biotech firm Advaxis (Nasdaq: ADXS) surged 32.2% to $10.99, after it revealed that the Food and Drug Administration has lifted the clinical hold on all of the company’s Investigational New Drug (IND) applications for its three product candidates.

The cancer drug candidates in question are axalimogene filolisbac (formerly ADXS-HPV), ADXS-PSA and ADXS-HER2. Advaxis will therefore resume all clinical trials with axalimogene filolisbac, ADXS-PSA and ADXS-HER2.

“We appreciate the FDA’s review of this matter. We are grateful that our clinical trials will now resume so that we may continue investigating new treatments for unmet medical needs. We thank both the patients and their physicians for their participation in our clinical trials,” said Daniel O’Connor, president and chief executive of Advaxis.