NEW YORK (TheStreet) -- Shares of cancer immunotherapy developer Advaxis (ADXS) - Get Advaxis, Inc. Report soared more than 15% to hit a new 52-week high of $9.75 on Monday on higher-than-average volume.
More than 2.1 million shares of the stock had changed hands by 12:23 p.m., compared to the daily average volume of 285,730. The stock rose alongside fellow immunotherapy developer Juno Therapeutics (JUNO) , which soared to new highs on Monday just days after its IPO.
The FDA cleared Advaxis' Investigational New Drug application to begin a Phase 1/2 trial of ADXS-HPV to treat HPV-associated cervical cancer and HPV-associated head and neck cancer. Advaxis expects to begin patient enrollment in the trial in early 2015.
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