Advaxis, Amgen deal

Advaxis granted Amgen exclusive, worldwide rights to develop and commercialize ADXS-NEO. Advaxis will receive $40 million up front. Advaxis is eligible for up to $475 million in milestones, plus high single- to mid- double-digit royalties. Amgen also will invest $25 million by purchasing 3 million Advaxis shares at $8.20. The price is a 3% discount to Advaxis’ close of $8.47 on Aug. 1, the day before the deal was announced. ...