Advaxis rallies on licensing deal for ADXS-HPV

|About: Advaxis Inc. (ADXS)|By:, SA News Editor

Advaxis (ADXS +11.1%) rises after saying it has entered into a licensing agreement with Global BioPharma for the development and commercialization of ADXS-HPV.

Global BioPharma was formed "solely to focus on the development and commercialization of ADXS-HPV," ADXS says.

ADXS will receive "event-based financial milestones, an annual development fee, and annual net sales royalty payments in the high single to double digits."

Additionally, Global will make an upfront investment in ADXS common stock.

For more on the deal, see here.