In a new development, which has come as a significant boost for ADXS stock, Advaxis, Inc. (NASDAQ:ADXS) announced that it has reached an agreement with Personalis Inc (NASDAQ:PSNL) for a collaboration deal.
The company announced that Personalis’s ImmunoID NeXT Platform is going to be used in the Phase 1/2 HOT Lung testing program for the Advaxis product ADSX-503. The medicine is going to be combined with pembrolizumab and then tested on patients suffering from non-small cell lung cancer.
Solid Boost for Investors
As per the agreement, Personalis will be involved in tumor immunogenomic profiling and also provide an extensive evaluation of mechanisms that may cause resistance to the therapy. The specialized help that Advaxis is going to get from Personalis could help the company in hastening the development of ADSX-503.
The news of the collaboration has been well received by the market, and ADXS stock has soared by as much as 8% at $1.16 in morning trade. It is a significant development for the company, and the rally in the stock is understandable.
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It goes without saying that ADXS stock is likely going to be in focus among investors today and for the rest of the week.
The platform Advaxis is going to use during the clinical trial will provide a thorough solution to CDx development and oncology biomarker discovery. Both these functions are highly important for testing a product that is meant to treat non-small cell lung cancer.
The Chief Medical Officer of the company, Dr. Andres A. Gutierrez, said as much: “The analysis will help guide our development plans in order to target the right patient population and to potentially increase the clinical benefit of our off-the-shelf.”
The deal has not only boosted ADXS stock but Personalis stock too. After the announcement was made, PSNL stock rallied in today’s trading and rose by as much as 3%.
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