Advaxis (ADXS) announced the completion of a previously announced merger with Ayala Pharmaceuticals (AYLA), a clinical-stage oncology company focused on developing and commercializing small molecule therapeutics for patients suffering from rare tumors and aggressive cancers. While the stock will continue to trade on OTC under the symbol ADXS, the merged company will operate under the name Ayala Pharmaceuticals. The merged company will be focused primarily on the development and commercialization of Ayala’s lead program AL102 for the treatment of desmoid tumors. As previously disclosed, the company is seeking to uplist to Nasdaq in the near future, but there is no guarantee that this effort will be successful. Kenneth Berlin, President and CEO of Advaxis, will be President, CEO and a Director of the company; Andres Gutierrez, M.D., Ph.D., will be the CMO; and Igor Gitelman will be the Interim CFO. The board of directors consists of David Sidransky, M.D., as chairman, Roni Appel, Samir Khleif, M.D., Vered Bisker-Leib, M.D., Murray A. Goldberg, Robert Spiegel, M.D., and Ken Berlin.
Published first on TheFly
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