Two public biotechs seek to merge, focusing on desmoid tumors. But Nasdaq is not guaranteed
Two biotechs are looking to merge early next year, and as negotiations are ongoing, investors still need to sign off on the deal.
Oncology-focused Advaxis is in the early stages of merging with Ayala, a biotech incorporated in Delaware that has its primary operations located in Israel.
Advaxis CEO Ken Berlin told investors and analysts in a conference call Wednesday morning that he had reviewed “a number of business development opportunities to determine how best to advance Advaxis to a later stage company,” adding that the biotech believes the merger with Ayala is the best way to go about it.
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