Amgen pulls out of Advaxis immunotherapy deal

Advaxis Inc. (NASDAQ:ADXS) will continue to enroll patients in a Phase I trial of its ADXS-NEO program despite Amgen Inc. (NASDAQ:AMGN) pulling out of a 2016 deal to develop the immunotherapy. Advaxis shares slid 37% to $0.24 on Friday after the company disclosed the termination.

The trial is evaluating the safety of ADXS-NEO in patients with metastatic colon cancer, head and neck cancer and non-small cell lung cancer (NSCLC). The therapy uses a live attenuated form of Listeria monocytogenes bacteria to deliver a complete roster of patient-specific neoantigens directly to immune cells...