Advaxis Shares Drop After FDA Clinical Trial Hold

Advaxis Inc. shares dropped in the extended session Tuesday after the biotech developer said the Food and Drug Administration issued a clinical hold against one of its drugs affecting four studies. Advaxis shares dropped 28% to $7.40 on heavy volume. The company said the FDA placed the clinical hold on its axalimogene filolisbac treatment studies after one patient died of her end-stage cervical cancer following treament. Advaxis said the FDA has requested information supporting the company's claim that the medication did not cause the patient's death.