Two years and $78M lat­er, Am­gen wash­es its hands of Ad­vax­is' I/O drug — and shares plum­met

Ad­vax­is has tak­en its in­vestors on a bit of a roller coast­er ride this year.

The FDA slapped a clin­i­cal hold on a com­bo study of its lead drug ax­al­imo­gene filolis­bac and As­traZeneca’s Imfinzi in wake of a pa­tient death, which re­solved months lat­er af­ter a C-suite over­haul. Late Wednes­day, the New Jer­sey biotech added to the dra­ma by qui­et­ly dis­clos­ing that Am­gen has dropped their $540 mil­lion im­munother­a­py pact.

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