Re: Farmas USA
ADXS
There are certainly several catalysts this year that could provide a much-needed boost to the stock price. The company expects to initiate phase 3 study with ADXS-DUAL and Opdivo in the first half of 2018. In the first half, the company also expects to initiate phase 1 study with ADXS-NEO. 2018 will also see data for ADXS-PSA.
On Thursday, the boost to ADXS shares was provided by the announcement that axalimogene filolisbac showed positive effect in early-stage anal cancer study. The data were published in the International Journal of Radiation Oncology. The data showed that 90% of treated patients experienced complete responses and eight of the nine (89%) remained disease-free at a median follow-up of 42 months. Axalimogene filolisbac was generally well tolerated.
On the financial front, ADXS again has a solid position. At the end of October 31, 2017, the company had $70.9 million in cash, cash equivalents and investments on its balance sheet. The fiscal year 2017 saw the company use $76.9 million in cash to fund operations. However, ADXS expects to bring down its cash burn in fiscal 2018. Even then we do see some dilution risk. Having said that, with multiple catalysts this year and a favorable environment in terms of capital raising in the biotech sector, raising fresh funds should not be a challenge for ADXS. Given the extensive pipeline and partnerships in place, we believe ADXS is worth a look.
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