Advaxis Granted a Qualifying Therapeutic Discovery Project Credit Totaling $244,479 for Advaxis' Lead Construct Candidate ADXS11
Advaxis was awarded a Qualifying Therapeutic Discovery Project credit from the Federal Government for ADXS11-001.
Advaxis, Inc., (OTCBB: ADXS), the live, attenuated Listeria monocytogenes (Listeria) immunotherapy company was awarded a Qualifying Therapeutic Discovery Project (QTDP) credit from the Federal Government for ADXS11-001, the Company's lead immunotherapeutic construct totaling $244,479.
“This non-dilutive funding will support our on-going phase II clinical trials in cervical cancer,” said Advaxis Chairman/CEO Thomas A. Moore.
About Qualifying Therapeutic Discovery Project
The QTDP was created by Congress as part of the Patient Protection and Affordable Care Act of 2010 and provides a tax credit or grant equal to eligible costs and expenses for tax years 2009 and 2010. The program is targeted to therapeutic discovery projects that show reasonable potential and can:
result in new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions
reduce the long-term growt
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