RIGL Awaits Key Data This Month, GeoVax Gets Funding, ADXS Jumps On Amgen Deal

(RTTNews) - Shares of Advaxis Inc. (ADXS) jumped over 30% on Tuesday, following a $540 million global cancer immunotherapies collaboration agreement with Amgen (AMGN).

Under the terms of the agreement, Amgen receives exclusive worldwide rights to develop and commercialize Advaxis' preclinical investigational cancer immunotherapy treatment ADXS-NEO. The compound is expected to advance into clinical testing in 2017.

Amgen will make an upfront payment to Advaxis of $40 million and purchase $25 million of Advaxis common stock. Advaxis will also receive a funding of up to $475 million for clinical and commercial activities related to ADXS-NEO.

ADXS closed Tuesday's trading at $11.08, up 30.81%. In after hours, the stock was up 1.53% to $11.25.

Galectin Therapeutics Inc. (GALT) has completed patient recruitment in its phase II clinical trial with GR-MD-02 in patients with non-alcoholic steatohepatitis with cirrhosis. The topline results of this trial are expected to be reported in December 2017, as previously planned.

A phase II trial with GR-MD-02 in patients with non-alcoholic steatohepatitis (NASH) with advanced fibrosis is also ongoing, and results from this trial are anticipated next month.

GALT closed Tuesday's trading at $2.04, up 6.25%.

GeoVax Labs Inc. (GOVX.OB) has been awarded a Staged Vaccine Development contract for up to $7.8 million by the National Institutes of Health to further develop the company's preventive HIV vaccine GOVX-B11 and to manufacture the DNA component of GOVX-B11 for use in advanced human clinical trials.

GOVX.OB closed Tuesday's trading at $0.09, down 5.03%.

Rigel Pharmaceuticals Inc. (RIGL) is scheduled to report topline results for the first of two phase III studies of Fostamatinib in patients with immune thrombocytopenia by the end of this month, followed by the second study's results a few months later.

If all goes well as planned, the company expects to submit a New Drug Application for Fostamatinib with the FDA in the first quarter of 2017.

A two-stage phase II study of Fostamatinib in patients with warm antibody AIHA who have previously received treatment for the disorder, but have relapsed, is underway.

Rigel expects to have results of the Stage 1 segment of the trial in early 2017.

RIGL closed Tuesday's trading at $2.52, up 0.40%. In after hours, the stock was up 3.17% to $2.60.

Regeneron Pharmaceuticals Inc. (REGN) and privately-held Adicet Bio Inc. have entered into a collaboration and licensing agreement to develop next-generation engineered immune cell therapeutics.

Engineered immune cell therapeutics are considered a promising strategy for cancer treatment by researchers.

As per the agreement terms, Adicet will receive a $25 million upfront payment and research funding over the course of a five-year research term.

Regeneron has the option to obtain development and commercial rights for a certain number of the product candidates, and Adicet has an option to participate in the development and commercialization on these potential products or is entitled to royalty payments by Regeneron.

REGN closed Tuesday's trading at $434.90, up 0.21%.