ࡱ; }  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|Root Entry  \pCalc Ba=J  !"#$%=@ 8X@"1Calibri1Arial1Arial1Arial1Calibri1Calibri General3._(\$* #,##0_);_(\$* \(#,##0\);_(\$* \-_);_(@_) #,##0\(#,##0_);[RED]\(#,##0\)!"($"#,##0_);[RED]"($"#,##0\)'""($"#,##0.00_);[RED]"($"#,##0.00\);6_(\$* #,##0.00_);_(\$* \(#,##0.00\);_(\$* \-??_);_(@_) #,##0.00                + ) , *   (  $     (   (8  (  $  $  $   (8   ` =condensed balance sheets"Gcondensed statements of op"WQcondensed statements of ca!^net income loss per share Ab3 property and equipment3g4 intangible assetsk4 intangible assets-1Co5 accrued expenses"=s6 common stock purchase wa$w6 common stock purchase wa-1${6 common stock purchase wa-2warrant liability"7 share based compensation#restricted stock units rsus{ stock optionsOstock options-15stock options-2stock options-3stock options-4_11 stockholders equity 11 stockholders equity-1 lm"general and administrative 'lm-1$general and administrative-1"-section 302 of the sarbane$section 302 of the sarbane-1$esection 302 of the sarbane-2$section 302 of the sarbane-3$section 302 of the sarbane-4$section 302 of the sarbane-5$section 302 of the sarbane-6$#section 302 of the sarbane-7"ecertificationpursuant to s$certificationpursuant to s-1$certificationpursuant to s-2$9certificationpursuant to s-3Tzr8&%%      !"#$%3  @@   ~CONDENSED BALANCE SHEETS July 31, 2020October 31, 2019 (Unaudited)ASSETSCurrent Assets:Cash and cash equivalentsDeferred expensesDeferred offering costs-)Prepaid expenses and other current assetsTotal current assets8Property and equipment (net of accumulated depreciation)3Intangible assets (net of accumulated amortization)>Operating right-of-use asset (net of accumulated amortization) Other assets Total assets$LIABILITIES AND STOCKHOLDERS EQUITYCurrent liabilities:Accounts payableAccrued expensesCommon stock warrant liability,Current portion of operating lease liabilityOther current liabilitiesTotal current liabilities1Operating lease liability, net of current portionOther liabilitiesTotal liabilities&Commitments and contingencies  Note 9Stockholders equity:Preferred stock, $0.001 par value; 5,000,000 shares authorized; Series B Preferred Stock; 0 shares issued and outstanding at July 31, 2020 and October 31, 2019; Liquidation preference of $0 at July 31, 2020 and October 31, 2019Common stock - $0.001 par value; 170,000,000 shares authorized, 62,714,946 and 50,201,671 shares issued and outstanding at July 31, 2020 and October 31, 2019, respectivelyAdditional paid-in capitalAccumulated deficitTotal stockholders equity*Total liabilities and stockholders equity.CONDENSED STATEMENTS OF OPERATIONS (Unaudited)Three Months Ended July 31,Nine months ended July 31,20202019Revenue$-Operating expenses:!Research and development expenses#General and administrative expensesTotal operating expensesLoss from operationsOther income (expense):Interest income, net3Net changes in fair value of derivative liabilities/Loss on shares issued in settlement of warrants Other expense(Net loss before benefit for income taxesIncome tax expenseNet loss,Net loss per common share, basic and dilutedGWeighted average number of common shares outstanding, basic and diluted.CONDENSED STATEMENTS OF CASH FLOWS (Unaudited)Nine Months Ended July 31,OPERATING ACTIVITIESKAdjustments to reconcile net loss to net cash used in operating activities:Stock compensation$Employee stock purchase plan expense*Loss (gain) on change in value of warrants*Loss on disposal of property and equipment Abandonment of intangible assetsDepreciation expense)Amortization expense of intangible assets"Amortization of right-of-use asset+Change in operating assets and liabilities:Accounts receivable%Accounts payable and accrued expensesDeferred revenueOperating lease liabilities%Net cash used in operating activitiesINVESTING ACTIVITIES"Purchase of property and equipment0Proceeds from disposal of property and equipmentCost of intangible assets%Net cash used in investing activitiesFINANCING ACTIVITIES(Net proceeds of issuance of common stockWarrant exercise*Proceeds from employee stock purchase plan/Employee tax withholdings paid on equity awardsETax shares sold to pay for employee tax withholdings on equity awards)Net cash provided by financing activities)Net decrease in cash and cash equivalents0Cash and cash equivalents at beginning of period*Cash and cash equivalents at end of period"SUPPLEMENTAL CASH FLOW INFORMATIONCash paid for taxes<SUPPLEMENTAL DISCLOSURE OF NON-CASH AND FINANCING ACTIVITIES'Shares issued in settlement of warrants*Warrant liability reclassified into equityPre-funded warrant exercises,Commitment fee shares issued for equity line"Amounts accrued for offering costsNet Income (Loss) per ShareAs of July 31,Warrants Stock optionsRestricted stock unitsTotal3. PROPERTY AND EQUIPMENTLeasehold improvementsLaboratory equipmentFurniture and fixturesComputer equipmentConstruction in progressTotal property and equipment)Accumulated depreciation and amortizationNet property and equipment4. INTANGIBLE ASSETSPatentsLicensesSoftwareTotal intangiblesAccumulated amortizationIntangible assetsFiscal year ending October 31,2020 (Remaining) Thereafter5. ACCRUED EXPENSES:Salaries and other compensationVendorsProfessional feesTotal accrued expenses76. COMMON STOCK PURCHASE WARRANTS AND WARRANT LIABILITYExercise Price%Number of Shares Underlying WarrantsExpiration DateType of Financing July 2024July 2019 Public OfferingN/AOther warrantsSeptember 2024September 2018 Public Offering July 2025January 2020 Public Offering Grand TotalOther WarrantsShares!Weighted Average Exercise Price8Weighted Average Remaining Contractual Life In YearsAggregate Intrinsic Value8Outstanding and exercisable warrants at October 31, 2019Issued Exercised *5Outstanding and exercisable warrants at July 31, 2020Warrant LiabilityExercise Price Stock Price Expected Term 4.12 years 4.87 years Volatility %104.47%100.99%Risk Free Rate0.16%1.51%7. SHARE BASED COMPENSATIONThree Months Ended July 31,Nine Months Ended July 31,Research and developmentGeneral and administrativeRestricted Stock Units (RSUs)Number of RSUs(Weighted-Average Grant Date Fair ValueBalance at October 31, 2019Vested CancelledBalance at July 31, 2020 Stock OptionsNumber of Options!Weighted-Average Exercise Price Outstanding at October 31, 2019:GrantedCanceled or expiredOutstanding at July 31, 2020'Vested and Exercisable at July 31, 2020 Nine Months Ended July 31, 20205.50-6.50 yearsExpected Volatility100.27-105.21%Expected Dividends0%Risk Free Interest Rate 0.36-0.52%Lease Cost (in thousands)'Statements of Operations Classification*For the Three Months Ended July 31, 2020(For the Nine Months Ended July 31, 2020Operating lease costShort-term lease costVariable lease costTotal lease expenseFiscal Year ending October 31,Total minimum lease paymentsLess: Imputed interest11. STOCKHOLDERS EQUITYPreferred Stock Common StockAdditional Paid-In AccumulatedTotal Shareholders AmountCapitalDeficitEquityBalance at November 1, 2018Stock based compensation&Tax withholdings paid on equity awards<Tax shares sold to pay for tax withholdings on equity awards/Issuance of shares to employees under ESPP Plan ESPP Expense Net IncomeBalance at January 31, 2019Warrant exercises/Advaxis public offerings, net of offering costsNet LossBalance at April 30, 2019Balance at July 31, 2019Balance at November 1, 2019Balance at January 31, 2020Balance at April 30, 20202At-the-market shares issued, net of offering costsLmIncrease (Decrease)$%Hotspot/Off-the-Shelf therapies35%Prostate cancerHPV-associated cancers*Personalized neoantigen-directed therapiesOther expenses$Total research & development expense(51)%MStock-based compensation expense included in research and development expense(67)%#General and Administrative Expenses"General and administrative expense(22)%OStock-based compensation expense included in general and administrative expense(21)%(1)%(38)%(72)%(9)%(36)%-SECTION 302 OF THE SARBANES OXLEY ACT OF 2002^I have reviewed this report on Form 10-Q for the quarter ended July 31, 2020 of Advaxis, Inc.;*Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods pres<ented in this report;DThe registrant s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:(a)nDesigned such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;(b)gDesigned such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;(c)Evaluated the effectiveness of the registrant s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and(d)wDisclosed in this report any change in the registrant s internal control over financial reporting that occurred during the registrant s most recent fiscal quarter (the registrant s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant s internal control over financial reporting; and All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant s ability to record, process, summarize and report financial information; andAny fraud, whether or not material, that involves management or other employees who have a significant role in the registrant s internal control over financial reporting.By:/s/ Kenneth A. BerlinName:Kenneth A. 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