The rise in bond yields has brought plenty of stocks under pressure in recent weeks and one of those is Advaxis Inc (NASDAQ: ADXS). Over the course of the past three weeks, the stock has declined by as deep as 50%.
However, in this regard, it is also necessary to note that the Advaxis stock is not alone. Plenty of other stocks have experienced similar declines. That being said, it might still be a good idea for investors to perhaps take a closer look at the company and its business.
Back in January, Advaxis announced its financial results for the fiscal year that ended on December 31, 2020, and on top of that, it also provided key business updates. In addition to providing key updates with regards to a range of products that is currently under development at the immunotherapy company, Advaxis revealed that it had a cash balance of $25.2 million. The net loss for the year came in at $26.5 million.
Finance and Entertainment Reporter
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