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Prospector
Profile
2-16-004
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| Advaxis, Inc. |
NAICS |
541710 |
| Technology Centre of New Jersey
675 US Highway One, Suite B113
North Brunswick, NJ 08902 |
Description |
Biotechnology |
| (732) 545-1590 |
Employees |
9 |
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Revenue |
(mil) |
0.1500 |
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Income |
(mil) |
2.4500 |
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Assets |
(mil) |
5.4600 |
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Liability |
(mil) |
1.1900 |
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(for the year ended 2007-10-31) |
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Category:
Audit Concerns
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Event:
Mcgladrey & Pullen LLP expressed substantial doubt about the ability of Advaxis, Inc., to continue as a going concern after it audited the Company's financial statements for the year ended October 31, 2007. The auditor points out that the Company has suffered recurring losses from operations. The Company had a net loss of $2,454,453 on revenues of $154,201 for the year ended October 31, 2007, much lower than the net loss of $6,197,744 on revenues of $431,961 reported for the year ended October 31, 2006. At October 31, 2007, the Company's balance sheet showed $5,460,354 in total assets, $1,192,375 in total liabilities and $4,267,979 in total stockholders' equity.
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Intellectual Property:
On July 1, 2002, the Company entered into a 20-year exclusive worldwide license and a right to grant sublicenses pursuant to license agreement with the University of Pennsylvania. Dr. Yvonne Paterson and the University of Pennsylvania have invested significant resources and time in developing a broad base of intellectual property around the cancer vaccine platform technology. The University of Pennsylvania currently has 12 issued and 46 pending patents in the United States and other countries including Japan, Canada, Israel, Australia, and the European Union, through the Patent Cooperation Treaty (PCT) system. These patents will allow the Company to take a strong lead in the field of Listeria-based therapy. [SEC 10-KSB 01-16-08]
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Description:
Advaxis, Inc., a development stage biotechnology company, engages in the research and development of new cancer-fighting techniques.
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Officers:
Thomas Moore (Chair & CEO); Dr. John Rothman (VP); Fred Cobb (VP & CFO); Dr. James Patton (Dir.); Roni A. Appel (Dir.); Dr. Thomas McKearn (Dir.); Richard Berman (Dir.); Martin R. Wade III (Dir.)
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Auditor:
Mcgladrey & Pullen LLP
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Securities:
Common Stock Symbol ADXS.OB; OTC BB; 107,957,977 common shares outstanding as of December 31, 2007.
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