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Advaxis, Inc. Announces Proposed Public Offering of Common Stock

April 2, 2019 Off By BusinessWire

PRINCETON, N.J.–(BUSINESS WIRE)–Advaxis, Inc. (Nasdaq: ADXS) (the “Company”), a late-stage
biotechnology company focused on the discovery, development and
commercialization of immunotherapy products, today announced that it
intends to offer and sell in an underwritten public offering shares of
its common stock. The offering is subject to market conditions, and
there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.

A.G.P./Alliance Global Partners is acting as the sole book-running
manager for the offering.

The Company intends to use the net proceeds from this offering to fund
its continued research and development initiatives in connection with
its product pipeline including, but not limited to, (i) investment in
its ADXS-HOT program in both monotherapy and combination therapy and new
cancer types; (ii) investment in ongoing clinical research in ADXS-PSA
and ADXS-NEO, in combination therapy; and (iii) general corporate
purposes.

This offering is being made pursuant to an effective shelf registration
statement on Form S-3 (No. 333-226988) previously filed with the U.S.
Securities and Exchange Commission (the “SEC”) and declared effective by
the SEC on August 30, 2018. A preliminary prospectus supplement and
accompanying prospectus describing the terms of the proposed offering
will be filed with the SEC and will be available on the SEC’s website at www.sec.gov.
Electronic copies of the preliminary prospectus supplement and
prospectus may be obtained, when available, from A.G.P./Alliance Global
Partners, 590 Madison Avenue, 36th Floor, New York, NY 10022 or via
telephone at 212-624-2060 or via email at [email protected].
The offering may be made only by means of a prospectus supplement and
the accompanying prospectus. Before investing in this offering,
interested parties should read in their entirety the prospectus
supplement and the accompanying prospectus and the other documents that
the Company has filed with the SEC that are incorporated by reference in
such prospectus supplement and the accompanying prospectus, which
provide more information about the Company and such offering.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

About Advaxis

Advaxis is a late-stage biotechnology company focused on the discovery,
development and commercialization of proprietary Lm-based
antigen delivery products. These immunotherapies are based on a platform
technology that utilizes live attenuated Listeria monocytogenes (Lm)
bioengineered to secrete antigen/adjuvant fusion proteins. These Lm-based
strains are believed to be a significant advancement in immunotherapy as
they integrate multiple functions into a single immunotherapy and are
designed to access and direct antigen presenting cells to stimulate
anti-tumor T cell immunity, activate the immune system with the
equivalent of multiple adjuvants, and simultaneously reduce tumor
protection in the tumor microenvironment to enable T cells to eliminate
tumors. Advaxis has four programs in various stages of clinical
development: ADXS-HPV for cervical cancer; ADXS-NEO, a personalized
neoantigen-directed therapy for multiple cancers; ADXS-503 for non-small
cell lung cancer, from its ADXS-HOT off-the-shelf neoantigen-directed
program; and ADXS-PSA for prostate cancer.

Forward-Looking Statements

This press release contains forward-looking statements that are made
pursuant to the safe harbor provisions within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking statements
are any statements that express the current beliefs and expectations of
management, including but not limited to statements related to the
Company’s ability to complete the financing and its use of proceeds.
These and other risks are discussed in the Company’s filings with
the SEC, including, without limitation, its Annual Report on Form 10-K,
filed on January 11, 2019, and its periodic reports on Form 10-Q and
Form 8-K, as well as the risks identified in the registration statement
and the preliminary prospectus supplement relating to the offering. Any
statements contained herein that do not describe historical facts are
forward-looking statements that are subject to risks and uncertainties
that could cause actual results, performance and achievements to differ
materially from those discussed in such forward-looking statements. The
Company cautions readers not to place undue reliance on any
forward-looking statements, which speak only as of the date they were
made. The Company undertakes no obligation to update or revise
forward-looking statements, except as otherwise required by law, whether
as a result of new information, future events or otherwise.