Advaxis Clarifies CMO Bonus Terms Amid Asset Sale

Advaxis (ADXS) has released an update.

Ayala Pharmaceuticals, Inc. has agreed to sell most of its assets to Immunome, Inc., and as part of the deal, the company has clarified the terms of the $800,000 transaction bonus for their Chief Medical Officer, Dr. Andres Gutierrez. The bonus will waive certain payments or benefits if Dr. Gutierrez’s employment ends after the sale. However, if his employment ceases before the sale’s completion, the original terms of his 2018 employment agreement will remain in effect.

For further insights into ADXS stock, check out TipRanks’ Stock Analysis page.