Shares of Advaxis, Inc. (NASDAQ:ADXS) jumped 9% to $7.70 after the company entered into a clinical trial collaboration with Incyte Corporation (NASDAQ:INCY) to assess the combination of Advaxis's Lm-LLO cancer immunotherapy candidate, ADXS-HPV, with Incyte's epacadostat, an investigational oral indoleamine 2,3-dioxygenase 1 (IDO01) inhibitor.

The Phase 2 study will evaluate the safety and efficacy of ADXS-HPV as monotherapy and in combination with epacadostat in ~20 patients with stage I-IIa human papillomavirus (HPV)-associated cervical cancer.

Under the terms of the agreement, the companies will collaborate on a non-exclusive basis to evaluate the effectiveness of the combination therapy for the treatment of cervical cancer. Both firms will conduct and fund the study, which will commence later this year. Further development will depend on the results from the trial.

Shares of ADXS have jumped over 39% over the past year and down over 8% so far this year. Over the past 52-week the stock has been trading with in range of $2.46 - 13.76. The company has a market capitalization of $151.12 million with 23.64 million outstanding shares.

Advaxis, Inc. is a clinical-stage biotechnology company focused on the discovery, development and commercialization of Listeria monocytogenes (Lm) - LLO immunotherapies. The Company develops immunotherapies for cancer and infectious diseases. These immunotherapies are based on a platform technology under license from the University of Pennsylvania (Penn), that utilizes live attenuated Listeria monocytogenes (Lm) bioengineered to secrete antigen/adjuvant fusion proteins.