BioCentury
ARTICLE | Financial News

Advaxis raises $30M in direct offering

August 16, 2016 7:00 AM UTC

Advaxis Inc. (NASDAQ:ADXS) raised $30 million through the sale of about 2.2 million shares at $13.50 in a registered direct offering with undisclosed institutional investors. The deal price is a 9% discount to Advaxis' close of $14.81 on Monday. Jefferies, Barclays, Cantor Fitzgerald and Guggenheim were placement agents.

Earlier this month, Advaxis granted Amgen Inc. (NASDAQ:AMGN) rights to ADXS-NEO, its patient-specific cancer immunotherapy. Advaxis received $40 million up front and a $25 million equity investment in the deal (see BioCentury, Aug. 15). ...