View Filing Data

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Jul. 31, 2018	Aug. 31, 2018
Document And Entity Information
Entity Registrant Name	Advaxis, Inc.
Entity Central Index Key	0001100397
Document Type	10-Q
Document Period End Date	Jul. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		52,828,483
Trading Symbol	ADXS
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2018

Condensed Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 31, 2018	Oct. 31, 2017
Current Assets:
Cash and cash equivalents	$ 39,434	$ 23,900
Restricted cash	977	587
Short-term investment securities		46,398
Income tax receivable		4,453
Deferred expenses	5,046	2,986
Prepaid expenses and other current assets	2,323	2,919
Total current assets	47,780	81,243
Property and equipment (net of accumulated depreciation)	7,513	7,111
Intangible assets (net of accumulated amortization)	5,277	4,857
Other assets	489	431
Total assets	61,059	93,642
Current liabilities:
Accounts payable	2,842	5,121
Accrued expenses	3,918	8,700
Deferred revenue	4,476	6,995
Other current liabilities	874	48
Total current liabilities	12,110	20,864
Deferred revenue	15,317	17,479
Other liabilities	301	1,039
Total liabilities	27,728	39,382
Commitments and contingencies - Note 9
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized; Series B Preferred Stock; 0 shares issued and outstanding at July 31, 2018 and October 31, 2017 Liquidation preference of $0 at July 31, 2018 and October 31, 2017
Common stock - $0.001 par value; 95,000,000 shares authorized, 52,802,360 and 41,206,538 shares issued and outstanding at July 31, 2018 and October 31, 2017	53	41
Additional paid-in capital	382,337	355,361
Accumulated deficit	(349,059)	(301,142)
Total stockholders' equity	33,331	54,260
Total liabilities and stockholders' equity	$ 61,059	$ 93,642

Condensed Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2018	Oct. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Series B Preferred stock, shares issued	0	0
Series B Preferred stock, shares outstanding	0	0
Preferred stock, liquidation preference value	$ 0	$ 0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	95,000,000	95,000,000
Common stock, shares issued	52,802,360	41,206,538
Common stock, shares outstanding	52,802,360	41,206,538

Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Income Statement [Abstract]
Revenue	$ 1,131	$ 3,052	$ 4,934	$ 10,268
Operating expenses:
Research and development expenses	10,800	17,794	38,703	47,750
General and administrative expenses	4,495	17,995	14,495	33,101
Total operating expenses	15,295	35,789	53,198	80,851
Loss from operations	(14,164)	(32,737)	(48,264)	(70,583)
Other income (expense):
Interest income, net	149	184	439	514
Net changes in fair value of derivative liabilities				20
Other expense	(2)	(72)	(42)	(75)
Net loss before benefit for income taxes	(14,017)	(32,625)	(47,867)	(70,124)
Income tax expense			50	50
Net loss	$ (14,017)	$ (32,625)	$ (47,917)	$ (70,174)
Net loss per common share, basic and diluted	$ (0.27)	$ (0.80)	$ (1.00)	$ (1.74)
Weighted average number of common shares outstanding, basic and diluted	52,668,919	40,609,794	47,966,672	40,315,356

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
OPERATING ACTIVITIES
Net loss	$ (47,917)	$ (70,174)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock compensation	5,987	24,694
Employee stock purchase plan expense	13	82
Gain on change in value of warrants and embedded derivative		(20)
Loss on disposal of property and equipment	27	3
Write-off of intangible assets	424	108
Depreciation expense	827	554
Amortization expense of intangible assets	288	239
Net (accretion) amortization of premiums and discounts	(6)	150
Change in operating assets and liabilities:
Prepaid expenses and other current assets	(1,339)	(3,299)
Income tax receivable	4,453	2,550
Other assets	(58)	(49)
Accounts payable and accrued expenses	(7,030)	(3,634)
Deferred revenue	(4,681)	(10,018)
Other liabilities	88	140
Net cash used in operating activities	(48,924)	(58,674)
INVESTING ACTIVITIES
Restricted cash established with letter of credit agreements	(390)
Purchases of short-term investment securities	(12,487)	(73,426)
Proceeds from maturities of short-term investment securities	58,891	38,220
Purchase of property and equipment	(1,381)	(3,419)
Cost of intangible assets	(1,132)	(960)
Net cash provided by (used in) investing activities	43,501	(39,585)
FINANCING ACTIVITIES
Net proceeds of issuance of common stock	21,042	706
Proceeds from exercise of warrants		1
Proceeds from employee stock purchase plan	22	141
Tax withholdings paid related to net share settlement of equity awards	(87)	(354)
Employee tax withholdings paid on equity awards	(458)	(1,548)
Tax shares sold to pay for employee tax withholdings on equity awards	438	1,575
Net cash provided by financing activities	20,957	521
Net increase (decrease) in cash and cash equivalents	15,534	(97,738)
Cash and cash equivalents at beginning of period	23,900	112,751
Cash and cash equivalents at end of period	39,434	15,013
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for taxes	50	50
SUPPLEMENTAL DISCLOSURE OF NON-CASH AND FINANCING ACTIVITIES
Accounts payable and accrued expenses settled with common stock		75
Property and equipment included in accounts payable and accrued expenses		$ 86

Nature of Operations

9 Months Ended

Jul. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations

1. NATURE OF OPERATIONS

Advaxis, Inc. (“Advaxis” or the “Company”) is a late-stage biotechnology company focused on the discovery, development and commercialization of proprietary Listeria monocytogenes (“Lm”) based antigen delivery products. The Company is using its Lm platform directed against tumor-specific targets in order to engage the patient’s immune system to destroy tumor cells. Through a license from the University of Pennsylvania, Advaxis has exclusive access to this proprietary formulation of attenuated Lm called Lm Technology. Advaxis’ proprietary approach deploys a unique mechanism of action that redirects the immune system to attack cancer in three distinct ways by:

	●	Alerting and training the immune system by activating multiple pathways in antigen-presenting cells (“APCs”) with the equivalent of multiple adjuvants;

	●	Attacking the tumor by generating a strong, cancer-specific T cell response; and

	●	Breaking down tumor protection through suppression of the protective cells in the tumor microenvironment (“TME”) that shields the tumor from the immune system. This enables the activated T cells to begin working to eliminate the tumor.

Advaxis’ proprietary Lm platform technology has been clinically validated and dosed in over 500 patients across multiple clinical trials and in various tumor types. The Company believes that Lm Technology immunotherapies can complement and address significant unmet needs in the current oncology treatment landscape. Specifically, our product candidates have the potential to work synergistically with other immunotherapies, including checkpoint inhibitors, while having a generally well-tolerated safety profile.

Going Concern and Managements Plans

The Company’s products that are being developed have not generated significant revenue. As a result, the Company has suffered recurring losses and requires significant cash resources to execute its business plans. These losses are expected to continue for an extended period of time. The aforementioned factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of asset amounts or the classification of liabilities that might be necessary should the Company be unable to continue as a going concern within one year after the date the financial statements are issued.

Historically, our major sources of cash have comprised proceeds from various public and private offerings of our common stock, option and warrant exercises, and interest income. From October 2013 through August 2018, we raised approximately $245 million in gross proceeds from various public and private offerings of our common stock.

As of July 31, 2018 and August 31, 2018, the Company had approximately $40.4 million and $36.3 million, respectively, in cash, restricted cash and cash equivalents. Management’s plans to mitigate an expected shortfall of capital, to support future operations, include raising additional funds. On September 7, 2018 the Company announced the pricing of an underwritten public offering which is expected to gross $20 million in proceeds. It is the belief of the Company, that should the financing close on September 11, 2018 the Company expects to have sufficient capital to fund its obligations, as they become due, in the ordinary course of business through September 2019. The actual amount of cash that it will need to operate, is subject to many factors.

The Company also recognizes it will need to raise additional capital in order to continue to execute its business plan in the future. There is no assurance that additional financing will be available when needed or that management will be able to obtain financing on terms acceptable to the Company or whether the Company will become profitable and generate positive operating cash flow. If the Company is unable to raise sufficient additional funds, it will have to scale back its operations.

Summary of Significant Accounting Policies and Basis of Presentation

9 Months Ended

Jul. 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies and Basis of Presentation

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION

Basis of Presentation/Estimates

The accompanying unaudited interim condensed financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and in accordance with the rules and regulations of the SEC with respect to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements and the accompanying unaudited condensed balance sheet as of October 31, 2017 has been derived from the Company’s October 31, 2017 audited financial statements. In the opinion of management, the unaudited interim condensed financial statements furnished include all adjustments (consisting of normal recurring accruals) necessary for a fair statement of the results for the interim periods presented. Certain reclassifications have been made to prior year financial statements to conform to classifications used in the current year.

Operating results for interim periods are not necessarily indicative of the results to be expected for the full year. The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Significant estimates include the timelines associated with revenue recognition on upfront payments received, the fair value and recoverability of the carrying value of property and equipment and intangible assets, the grant date fair value of options, deferred tax assets and any related valuation allowance and related disclosure of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, based on historical experience and on various other assumptions that it believes to be reasonable under the circumstances. Actual results could materially differ from these estimates.

These unaudited interim condensed financial statements should be read in conjunction with the financial statements of the Company for the year ended October 31, 2017 and notes thereto contained in the Company’s annual report on Form 10-K for the year ended October 31, 2017, as filed with the SEC on December 21, 2017.

Concentration of Credit Risk

Financial instruments which potentially subject the Company to concentration of credit risk, consist principally of cash and cash equivalents. All of the Company’s cash and cash equivalents are deposited in accounts with financial institutions that management believes are of high credit quality and at times exceed the federally insured limits. The Company had not experienced losses in such accounts and believes it is not exposed to any significant credit risk.

Restricted Cash and Letters of Credit

During July 2017 and January 2018, the Company established two letters of credit with a financial institution as security for the purchase of custom equipment and as security for application fees associated with the Company’s Marketing Authorization Application (“MAA”) in Europe. The letters of credit are collateralized by cash which is unavailable for withdrawal or for usage for general obligations. No amount is outstanding under either letter of credit as of July 31, 2018.

Net Income (Loss) per Share

Basic net income or loss per common share is computed by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share give effect to dilutive options, warrants, restricted stock units and other potential common stock outstanding during the period. In the case of a net loss, the impact of the potential common stock resulting from warrants, outstanding stock options and convertible debt are not included in the computation of diluted loss per share, as the effect would be anti-dilutive. In the case of net income, the impact of the potential common stock resulting from these instruments that have intrinsic value are included in the diluted earnings per share. The table sets forth the number of potential shares of common stock that have been excluded from diluted net loss per share.

	As of July 31,
	2018		2017
Warrants		3,092,395		3,094,173
Stock Options		5,298,869		3,893,558
Restricted Stock Units		706,507		1,527,693
Total		9,097,771		8,515,424

Recent Accounting Standards

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers.

Subsequently, the FASB has issued the following standards related to ASU 2014-09: ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (“ASU 2016-08”); ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing (“ASU 2016-10”); ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients (“ASU 2016-12”); and ASU No. 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers (“ASU 2016-20”). The Company must adopt ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20 with ASU 2014-09 (collectively, the “new revenue standards”). The new revenue standards may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. We are currently evaluating which transition approach we will utilize and the impact of adopting this accounting standard on our unaudited condensed financial statements. This update will be effective for the Company beginning in the first quarter of fiscal 2019.

In February 2016, the FASB issued ASU 2016-02, “Leases (“Topic 842”) (“ASU 2016-02”). The standard amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU 2016-02 will be effective beginning in the first quarter of fiscal 2020. Early adoption of ASU 2016-02 is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting ASU 2016-02 on the Company’s financial statements.

Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material impact on the accompanying condensed financial statements.

Short-Term Investment Securities

9 Months Ended

Jul. 31, 2018

Schedule of Investments [Abstract]

Short-Term Investment Securities

3. SHORT-TERM INVESTMENT SECURITIES

The following table summarizes the Company’s short-term investment securities at amortized cost as of October 31, 2017 (in thousands):

	October 31, 2017
	Amortized cost, as adjusted		Gross unrealized holding gains		Gross unrealized holding losses		Estimated fair value
Short-term investments:
Certificates of Deposit	$	11,391	$	-	$	-	$	11,391
Domestic Governmental Agency Loans		500		-		-		500
U.S Treasury Notes		34,507		-		25		34,482
Total short-term investment securities	$	46,398	$	-	$	25	$	46,373

As of July 31, 2018, all of the Company’s short-term investment securities have matured.

Property and Equipment

9 Months Ended

Jul. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment

4. PROPERTY AND EQUIPMENT

Property and equipment, net consists of the following (in thousands):

	July 31, 2018			October 31, 2017

Leasehold improvements	$	2,255		$	2,168
Laboratory equipment		5,510			4,381
Furniture and fixtures		746			729
Computer equipment		409			395
Construction in progress		627			645
Total property and equipment		9,547			8,318
Accumulated depreciation and amortization		(2,034	)		(1,207	)
Net property and equipment	$	7,513		$	7,111

Depreciation expense for the three and nine months ended July 31, 2018 and 2017 was approximately $0.3 million, $0.8 million, $0.2 million and $0.6 million, respectively.

Intangible Assets

9 Months Ended

Jul. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

5. INTANGIBLE ASSETS

Intangible assets, net consist of the following (in thousands):

	July 31, 2018			October 31, 2017

Patents	$	6,351		$	5,727
Licenses		777			777
Software		117			109
Total intangibles		7,245			6,613
Accumulated amortization		(1,968	)		(1,756	)
Intangible assets	$	5,277		$	4,857

The expirations of the existing patents range from 2018 to 2038 but the expirations can be extended based on market approval if granted and/or based on existing laws and regulations. Capitalized costs associated with patent applications that are abandoned without future value are charged to expense when the determination is made not to pursue the application. Patent applications having a net book value of approximately $0.1 million, $0.4 million, $0.02 million and $0.1 million were abandoned and were charged to research and development expenses in the Statement of Operations for the three and nine months ended July 31, 2018 and 2017, respectively. Amortization expense for intangible assets aggregated approximately $0.1 million, $0.3 million, $0.1 million and $0.2 million for the three and nine months ended July 31, 2018 and 2017, respectively.

At July 31, 2018, the estimated amortization expense by fiscal year based on the current carrying value of intangible assets is as follows (in thousands):

Year ended October 31,

2018 (Remaining)	$	99
2019		394
2020		377
2021		357
2022		357
Thereafter		3,693
Total	$	5,277

Accrued Expenses

9 Months Ended

Jul. 31, 2018

Payables and Accruals [Abstract]

Accrued Expenses

6. ACCRUED EXPENSES:

The following table represents the major components of accrued expenses (in thousands):

	July 31, 2018		October 31, 2017

Salaries and other compensation	$	1,627	$	2,653
Vendors		797		2,812
Professional fees		1,494		3,235
Total accrued expenses	$	3,918	$	8,700

Warrants

9 Months Ended

Jul. 31, 2018

Warrants

Warrants

7. WARRANTS

At July 31, 2018 and October 31, 2017, the Company had 3,092,395 warrants outstanding at a weighted average exercise price of $5.00 and a weighted average remaining contractual life of 0.17 and 0.92 years, respectively. At July 31, 2018 and October 31, 2017, all of the Company’s outstanding warrants were classified as equity (equity warrants). At issuance, equity warrants are recorded at their relative fair values, using the relative fair value method, in the stockholders’ equity section of the balance sheet. The Company’s equity warrants can only be settled through the issuance of shares and are not subject to anti-dilution provisions.

Share Based Compensation

9 Months Ended

Jul. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share Based Compensation

8. SHARE BASED COMPENSATION

The following table summarizes share-based compensation expense included in the Statement of Operations (in thousands):

	Three Months Ended July 31,				Nine Months Ended July 31,
	2018		2017		2018		2017
Research and development	$	543	$	1,517	$	2,342	$	4,271
General and administrative		1,409		12,853		3,645		20,423
Total	$	1,952	$	14,370	$	5,987	$	24,694

Restricted Stock Units (RSUs)

A summary of the Company’s RSU activity and related information for the nine months ended July 31, 2018 is as follows:

	Number of RSUs			Weighted-Average Grant Date Fair Value

Balance at October 31, 2017		1,363,119		$	8.54
Granted		380,424			1.96
Vested		(714,518	)		7.82
Cancelled		(322,518	)		8.39
Balance at July 31, 2018		706,507		$	5.78

As of July 31, 2018, there was approximately $3.2 million of unrecognized compensation cost related to non-vested RSUs, which is expected to be recognized over a remaining weighted average vesting period of 1.57 years.

As of July 31, 2018, the aggregate intrinsic value of non-vested RSUs was approximately $1.0 million.

Employee Stock Awards

Common Stock issued to executives and employees related to vested incentive retention awards, employment inducements, management purchases and employee excellence awards totaled 215,267 shares (190,247 shares on a net basis after employee taxes) and 463,985 shares (452,084 shares on a net basis after employee taxes) during the three months ended July 31, 2018 and 2017 respectively. Total stock compensation expense associated with employee awards for the three months ended July 31, 2018 and 2017 was approximately $0.9 and $4.3 million, respectively

Common Stock issued to executives and employees related to vested incentive retention awards, employment inducements, management purchases and employee excellence awards totaled 669,044 shares (623,687 shares on a net basis after employee taxes) and 717,505 shares (674,543 shares on a net basis after employee taxes) during the nine months ended July 31, 2018 and 2017 respectively. Total stock compensation expense associated with employee awards for the nine months ended July 31, 2018 and 2017 was approximately $2.9 million and $7.3 million, respectively.

Included in compensation expense for the three and nine months ended July 31, 2018 is approximately $110,000 and $320,000, respectively, recognized as a result of the modification of certain RSU’s associated with the resignation of the Company’s Chief Financial Officer in April 2018 and Chief Operating Officer in June 2018. Pursuant to the separation agreements, the vesting was accelerated on all of the outstanding RSU’s.

Director Stock Awards

Common stock issued to Directors for compensation related to board and committee membership totaled 45,000 and 0 shares for the three months ended July 31, 2018 and 2017, respectively. During the three months ended July 31, 2018 and 2017, total stock compensation expense associated with Director awards was approximately $71,000 and $102,000, respectively.

Common stock issued to Directors for compensation related to board and committee membership totaled 75,000 and 30,000 shares for the nine months ended July 31, 2018 and 2017, respectively. During the nine months ended July 31, 2018 and 2017, total stock compensation expense associated with Director awards was approximately $178,000 and $302,000, respectively.

Stock Options

A summary of changes in the stock option plan for the nine months ended July 31, 2018 is as follows:

	Number of Options			Weighted-Average Exercise Price
Outstanding at October 31, 2017:		3,893,558		$	12.51
Granted		2,473,460			2.08
Canceled or Expired		(1,068,149	)		10.66
Outstanding at July 31, 2018		5,298,869			8.01
Vested and Exercisable at July 31, 2018		2,936,262		$	12.22

Total compensation cost related to the Company’s outstanding stock options, recognized in the statement of operations for the three months ended July 31, 2018 and 2017 was approximately $0.9 million and $9.7 million, respectively. For the nine months ended July 31, 2018 and 2017, compensation cost related to the Company’s outstanding stock options was approximately $2.9 million and $15.9 million, respectively. Included in compensation expense for the three and nine months ended July 31, 2018 is approximately $0 and $77,000, respectively, recognized as a result of the modification of certain option agreements associated with two Board members that decided not to run for re-election in March 2018. For the modified options, the vesting was accelerated and the expiration dates were changed to the earlier of the original expiration date or March 21, 2023.

During the nine months ended July 31, 2018, 2,473,460 options were granted with a total grant date fair value of approximately $4.0 million. During the nine months ended July 31, 2017, 556,952 options were granted with a total grant date fair value of approximately $3.5 million.

As of July 31, 2018, there was approximately $3.4 million of unrecognized compensation cost related to non-vested stock option awards, which is expected to be recognized over a remaining weighted average vesting period of 2.19 years.

As of July 31, 2018, the aggregate intrinsic value of vested and exercisable options was $0.

In determining the fair value of the stock options granted during the nine months ended July 31, 2018 and 2017, the Company used the following inputs in its BSM:

	Nine Months Ended July 31,
	2018			2017

Expected Term		5.35 – 6.51 years			5.50-6.50 years
Expected Volatility		94.61% - 100.34	%		107.07%-110.93	%
Expected Dividends		0	%		0	%
Risk Free Interest Rate		1.81 – 2.93	%		1.26%-1.58	%

2018 Employee Stock Purchase Plan – update with ’18 Plan

During the nine months ended July 31, 2018, the Company issued 10,681 shares that were purchased in fiscal 2017 under the 2011 Employee Stock Purchase Plan (“ESPP”).

The Advaxis, Inc. 2018 ESPP was approved by the Company’s shareholders on March 21, 2018. The ESPP allows eligible employees to purchase shares of our common stock at a 15% discount to the closing market price on designated exercise dates. 1,000,000 shares of the Company common stock are reserved for issuance under the ESPP.

Commitments and Contingencies

9 Months Ended

Jul. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

9. COMMITMENTS AND CONTINGENCIES :

Legal Proceedings

Bono

On August 20, 2015, a derivative complaint was filed by a purported Company stockholder in the United States District Court for the District of New Jersey styled David Bono v. O’Connor, et al., Case No. 3:15-CV-006326-FLW-DEA (D.N.J. Aug. 20, 2015) (the “Bono Action”). The complaint was based on general allegations related to certain stock options granted to the individual defendants and generally alleged counts for breaches of fiduciary duty and unjust enrichment. The complaint also alleged additional claims for violation of Section 14(a) of the Securities Exchange Act of 1934 and for waste of corporate assets. The complaint sought damages and costs of an unspecified amount, disgorgement of compensation obtained by the individual defendants, and injunctive relief.

Defendants filed a motion to dismiss the Bono Action. On May 23, 2016, the Court issued an opinion and order granting in part and denying in part defendants’ motion to dismiss. On October 5, 2016, the Court denied plaintiff’s motion for reconsideration of its May 23 order. On April 13, 2017, the parties advised the Court that they had reached a tentative agreement in principle to settle the action, subject to negotiating an award of attorneys’ fees and expenses to plaintiff’s counsel and a stipulation of settlement, and, ultimately, Court approval. The parties subsequently executed the stipulation of settlement on October 2, 2017. The Court entered an order preliminarily approving the settlement on November 7, 2017. The final fairness hearing was held January 29, 2018, and the Order and Final Judgment approving the settlement and dismissing the action with prejudice was entered on January 29, 2018. This matter is now concluded.

Corporate Office & Manufacturing Facility Lease

The Company leases its corporate office and manufacturing facility under an operating lease expiring in November 2025.

Future minimum payments under the Company’s operating leases are as follows (in thousands):

Year ended October 31,

2018 (remaining)	$	262
2019		1,107
2020		1,233
2021		1,318
2022		1,369
Thereafter		4,378
Total	$	9,667

Income Taxes

9 Months Ended

Jul. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

10. INCOME TAXES

On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act significantly revises U.S. corporate income taxation by, among other things, lowering the U.S. corporate income tax rate from 35.0 % to 21.0% effective January 1, 2018. The decrease in the U.S. federal corporate tax rate from 35.0% to 21.0% will result in a blended statutory tax rate of 23.2% for the fiscal year ending October 31, 2018. The Company does not anticipate any impact to tax expense due to the full valuation allowance of the Company and believes that the most significant impact on its financial statements will be reduction of approximately $32.7 million for the deferred tax assets related to net operating losses and other assets. Such reduction is offset by changes to the Company’s valuation allowance.

In December 2017, the Securities and Exchange Commission issued Staff Accounting Bulletin 118, which allows a measurement period, not to exceed one year, to finalize the accounting for the income tax impacts of the Tax Act. Until the accounting for the income tax impacts of the Tax Act is complete, the reported amounts are based on reasonable estimates, are disclosed as provisional and reflect any adjustments in subsequent periods as they refine their estimates or complete their accounting of such tax effects.

Stockholders' Equity

9 Months Ended

Jul. 31, 2018

Equity [Abstract]

Stockholders' Equity

11. STOCKHOLDERS’ EQUITY

During the nine months ended July 31, 2018, the Company sold 881,629 shares of its common stock at-the-market transactions resulting in net proceeds of approximately $2.7 million.

During February 2018, the Company issued 10,000,000 shares of the Company’s common stock in a public offering at $2.00 per share, less underwriting discounts and commissions. The net proceeds to the Company from the transaction was approximately $18.4 million.

On March 21, 2018, the Company’s shareholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation to increase our authorized shares of common stock by 30,000,000 to 95,000,000.

Subsequent Events

9 Months Ended

Jul. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

12. SUBSEQUENT EVENTS

On September 4, 2018, The Company granted a license to OS Therapies LLC for the use of ADXS31-164, also known as ADXS-HER2, for evaluation in the treatment of osteosarcoma in humans. Under the terms of the license agreement, OS Therapies LLC, in collaboration with the Children’s Oncology Group, will be responsible for the conduct and funding of a clinical study evaluating ADXS-HER2 in recurrent, completely resected osteosarcoma. The Company will receive an upfront payment, reimbursement for product supply and other support, clinical, regulatory, and sales-based milestone payments, and royalties on future product sales.

On September 7, 2018, the Company announced the pricing of an underwritten public offering of 16,666,666 shares of its common stock and warrants to purchase up to 14,166,666 shares of common stock. Each share of common stock is being sold together in a fixed combination with a warrant to purchase 0.85 shares of common stock. The warrants will be exercisable immediately, will expire six years from the date of issuance and will have an exercise price of $1.50 per share, subject to anti-dilution adjustments. The gross proceeds of the offering to the Company are expected to be approximately $20 million, before deducting the underwriting discounts and commissions and other estimated offering expenses, and excluding the exercise of any warrants. The closing of the offering is expected to occur on or about September 11, 2018, subject to the satisfaction of customary closing conditions.

The shares of common stock will be sold pursuant to an effective shelf registration statement on Form S-3 (No. 333- 226988) filed with the Securities and Exchange Commission on August 23, 2018 and declared effective on August 30, 2018.

Summary of Significant Accounting Policies and Basis of Presentation (Policies)

9 Months Ended

Jul. 31, 2018

Accounting Policies [Abstract]

Basis of Presentation/Estimates

Basis of Presentation/Estimates

Concentration of Credit Risk

Concentration of Credit Risk

Restricted Cash and Letters of Credit

Restricted Cash and Letters of Credit

Net Income (Loss) Per Share

Net Income (Loss) per Share

	As of July 31,
	2018		2017
Warrants		3,092,395		3,094,173
Stock Options		5,298,869		3,893,558
Restricted Stock Units		706,507		1,527,693
Total		9,097,771		8,515,424

Recent Accounting Standards

Recent Accounting Standards

Summary of Significant Accounting Policies and Basis of Presentation (Tables)

9 Months Ended

Jul. 31, 2018

Accounting Policies [Abstract]

Schedule of Common Stock Excluded from Diluted Net Loss Per Share

The table sets forth the number of potential shares of common stock that have been excluded from diluted net loss per share.

	As of July 31,
	2018		2017
Warrants		3,092,395		3,094,173
Stock Options		5,298,869		3,893,558
Restricted Stock Units		706,507		1,527,693
Total		9,097,771		8,515,424

Short-Term Investment Securities (Tables)

9 Months Ended

Jul. 31, 2018

Schedule of Investments [Abstract]

Schedule of Investment Securities at Amortized

The following table summarizes the Company’s short-term investment securities at amortized cost as of October 31, 2017 (in thousands):

	October 31, 2017
	Amortized cost, as adjusted		Gross unrealized holding gains		Gross unrealized holding losses		Estimated fair value
Short-term investments:
Certificates of Deposit	$	11,391	$	-	$	-	$	11,391
Domestic Governmental Agency Loans		500		-		-		500
U.S Treasury Notes		34,507		-		25		34,482
Total short-term investment securities	$	46,398	$	-	$	25	$	46,373

Property and Equipment (Tables)

9 Months Ended

Jul. 31, 2018

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment, net consists of the following (in thousands):

	July 31, 2018			October 31, 2017

Leasehold improvements	$	2,255		$	2,168
Laboratory equipment		5,510			4,381
Furniture and fixtures		746			729
Computer equipment		409			395
Construction in progress		627			645
Total property and equipment		9,547			8,318
Accumulated depreciation and amortization		(2,034	)		(1,207	)
Net property and equipment	$	7,513		$	7,111

Intangible Assets (Tables)

9 Months Ended

Jul. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

Intangible assets, net consist of the following (in thousands):

	July 31, 2018			October 31, 2017

Patents	$	6,351		$	5,727
Licenses		777			777
Software		117			109
Total intangibles		7,245			6,613
Accumulated amortization		(1,968	)		(1,756	)
Intangible assets	$	5,277		$	4,857

Schedule of Amortization Expense

At July 31, 2018, the estimated amortization expense by fiscal year based on the current carrying value of intangible assets is as follows (in thousands):

Year ended October 31,

2018 (Remaining)	$	99
2019		394
2020		377
2021		357
2022		357
Thereafter		3,693
Total	$	5,277

Accrued Expenses (Tables)

9 Months Ended

Jul. 31, 2018

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

The following table represents the major components of accrued expenses (in thousands):

	July 31, 2018		October 31, 2017

Salaries and other compensation	$	1,627	$	2,653
Vendors		797		2,812
Professional fees		1,494		3,235
Total accrued expenses	$	3,918	$	8,700

Share Based Compensation (Tables)

9 Months Ended

Jul. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Share-based Compensation Expense

The following table summarizes share-based compensation expense included in the Statement of Operations (in thousands):

	Three Months Ended July 31,				Nine Months Ended July 31,
	2018		2017		2018		2017
Research and development	$	543	$	1,517	$	2,342	$	4,271
General and administrative		1,409		12,853		3,645		20,423
Total	$	1,952	$	14,370	$	5,987	$	24,694

Summary of RSU Activity and Related Information

A summary of the Company’s RSU activity and related information for the nine months ended July 31, 2018 is as follows:

	Number of RSUs			Weighted-Average Grant Date Fair Value

Balance at October 31, 2017		1,363,119		$	8.54
Granted		380,424			1.96
Vested		(714,518	)		7.82
Cancelled		(322,518	)		8.39
Balance at July 31, 2018		706,507		$	5.78

Summary of Changes in Stock Option Plan

A summary of changes in the stock option plan for the nine months ended July 31, 2018 is as follows:

	Number of Options			Weighted-Average Exercise Price
Outstanding at October 31, 2017:		3,893,558		$	12.51
Granted		2,473,460			2.08
Canceled or Expired		(1,068,149	)		10.66
Outstanding at July 31, 2018		5,298,869			8.01
Vested and Exercisable at July 31, 2018		2,936,262		$	12.22

Summary of Fair Value of Stock Options Granted of BSM

In determining the fair value of the stock options granted during the nine months ended July 31, 2018 and 2017, the Company used the following inputs in its BSM:

	Nine Months Ended July 31,
	2018			2017

Expected Term		5.35 – 6.51 years			5.50-6.50 years
Expected Volatility		94.61% - 100.34	%		107.07%-110.93	%
Expected Dividends		0	%		0	%
Risk Free Interest Rate		1.81 – 2.93	%		1.26%-1.58	%

Commitments and Contingencies (Tables)

9 Months Ended

Jul. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Summary of Future Minimum Payments of Operating Leases

Future minimum payments under the Company’s operating leases are as follows (in thousands):

Year ended October 31,

2018 (remaining)	$	262
2019		1,107
2020		1,233
2021		1,318
2022		1,369
Thereafter		4,378
Total	$	9,667

Nature of Operations (Details Narrative) $ in Thousands	9 Months Ended
Nature of Operations (Details Narrative) $ in Thousands	Jul. 31, 2018 USD ($)
Cash, restricted cash, cash equivalents	$ 40,400
October 2013 Through August 2018 [Member]
Proceeds from public offering	245,000
August 31, 2018 [Member]
Cash, restricted cash, cash equivalents	36,300
September 7, 2018 [Member]
Proceeds from public offering	$ 20,000

Summary of Significant Accounting Policies and Basis of Presentation - Schedule of Common Stock Excluded from Diluted Net Loss Per Share (Details) - shares	9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
Number of common stock excluded from diluted net loss per share	9,097,771	8,515,424
Warrants [Member]
Number of common stock excluded from diluted net loss per share	3,092,395	3,094,173
Stock Options [Member]
Number of common stock excluded from diluted net loss per share	5,298,869	3,893,558
Restricted Stock Units [Member]
Number of common stock excluded from diluted net loss per share	706,507	1,527,693

Short-Term Investment Securities (Details Narrative)	9 Months Ended
Short-Term Investment Securities (Details Narrative)	Jul. 31, 2018
Schedule of Investments [Abstract]
Investments maturity description	All of the Company's short-term investment securities have matured.

Short-Term Investment Securities - Schedule of Investment Securities at Amortized (Details) $ in Thousands	12 Months Ended
	Oct. 31, 2017 USD ($)
Amortized cost, as adjusted	$ 46,398
Gross unrealized holding gains
Gross unrealized holding losses	25
Estimated fair value	46,373
Certificates of Deposit [Member]
Amortized cost, as adjusted	11,391
Gross unrealized holding gains
Gross unrealized holding losses
Estimated fair value	11,391
Domestic Governmental Agency Loans [Member]
Amortized cost, as adjusted	500
Gross unrealized holding gains
Gross unrealized holding losses
Estimated fair value	500
U.S Treasury Notes [Member]
Amortized cost, as adjusted	34,507
Gross unrealized holding gains
Gross unrealized holding losses	25
Estimated fair value	$ 34,482

Property and Equipment (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 300	$ 200	$ 827	$ 554

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Jul. 31, 2018	Oct. 31, 2017
Property, Plant and Equipment [Abstract]
Leasehold improvements	$ 2,255	$ 2,168
Laboratory equipment	5,510	4,381
Furniture and fixtures	746	729
Computer equipment	409	395
Construction in progress	627	645
Total property and equipment	9,547	8,318
Accumulated depreciation and amortization	(2,034)	(1,207)
Net property and equipment	$ 7,513	$ 7,111

Intangible Assets (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Finite lived patents expirations year			The expirations of the existing patents range from 2018 to 2038
Book value patent applications, net	$ 100	$ 200	$ 424	$ 108
Amortization expense of intangible assets	$ 100	$ 100	$ 288	$ 239

Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 31, 2018	Oct. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Patents	$ 6,351	$ 5,727
Licenses	777	777
Software	117	109
Total intangibles	7,245	6,613
Accumulated amortization	(1,968)	(1,756)
Intangible assets	$ 5,277	$ 4,857

Intangible Assets - Schedule of Amortization Expense (Details) $ in Thousands	Jul. 31, 2018 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2018 (Remaining)	$ 99
2019	394
2020	377
2021	357
2022	357
Thereafter	3,693
Total	$ 5,277

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Jul. 31, 2018	Oct. 31, 2017
Payables and Accruals [Abstract]
Salaries and other compensation	$ 1,627	$ 2,653
Vendors	797	2,812
Professional fees	1,494	3,235
Total accrued expenses	$ 3,918	$ 8,700

Warrants (Details Narrative) - $ / shares	9 Months Ended	12 Months Ended
Warrants (Details Narrative) - $ / shares	Jul. 31, 2018	Oct. 31, 2017
Warrants outstanding	3,092,395	3,092,395
Exercise price of warrants	$ 5.00	$ 5.00
Warrants [Member]
Weighted average remaining contractual life	2 months 1 day	11 months 1 day

Share Based Compensation (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Unrecognized compensation cost related to non-vested stock option awards	$ 3,400		$ 3,400
Stock compensation expense	900	$ 9,700	$ 2,900	$ 15,900
Number of options, granted			2,473,460	556,952
Fair value of option granted			$ 4,000	$ 3,500
Weighted average vesting period			2 years 2 months 8 days
Aggregate intrinsic value of vested and exercisable	$ 0		$ 0
2011 Employee Stock Purchase Plan [Member]
Number of shares issued under employee stock purchase plan'			10,681
2018 Employee Stock Purchase Plan [Member]
Common stock discount rate			15.00%
Number of stock reserved for issuance	1,000,000		1,000,000
Two Board Members [Member]
Stock compensation expense	$ 0		$ 77
Restricted Stock Units (RSUs) [Member]
Unrecognized compensation cost related to non-vested stock option awards	3,200		$ 3,200
Unrecognized compensation cost related to non-vested remaining weighted average vesting period			1 year 6 months 25 days
Options outstanding, intrinsic value	1,000		$ 1,000
Number of options, granted			380,424
Employee Stock Awards [Member]
Stock compensation expense	$ 110		$ 320
Employee Stock Awards [Member] \| Executives and Employees [Member]
Share-based compensation, common stock, shares	215,267	463,985	669,044	717,505
Share-based compensation, shares on net basis after employee payroll taxes	190,247	452,084	623,687	674,543
Stock compensation expense	$ 900	$ 4,300	$ 2,900	$ 7,300
Director Stock Awards [Member] \| Directors [Member]
Share-based compensation, common stock, shares	45,000	0	75,000	30,000
Stock compensation expense	$ 71	$ 102	$ 178	$ 302

Share Based Compensation - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Jul. 31, 2018	Jul. 31, 2017
Share-based compensation expense	$ 1,952	$ 14,370	$ 5,987	$ 24,694
Research and Development [Member]
Share-based compensation expense	543	1,517	2,342	4,271
General and Administrative [Member]
Share-based compensation expense	$ 1,409	$ 12,853	$ 3,645	$ 20,423

Share Based Compensation - Summary of RSU Activity and Related Information (Details) - $ / shares	9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
Number of RSUs Granted	2,473,460	556,952
Number of RSUs Cancelled	(1,068,149)
Restricted Stock Units (RSUs) [Member]
Number of RSUs Granted, Beginning Balance	1,363,119
Number of RSUs Granted	380,424
Number of RSUs Vested	(714,518)
Number of RSUs Cancelled	(322,518)
Number of RSUs Granted, Ending Balance	706,507
Weighted-Average Grant Date Fair Value, Outstanding, Beginning	$ 8.54
Weighted-Average Grant Date Fair Value, Granted	1.96
Weighted-Average Grant Date Fair Value, Vested	7.82
Weighted-Average Grant Date Fair Value, Cancelled	8.39
Weighted-Average Grant Date Fair Value, Outstanding, Ending	$ 5.78

Share Based Compensation - Summary of Changes in Stock Option Plan (Details) - $ / shares	9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of Options, Beginning Balance	3,893,558
Number of Options, Granted	2,473,460	556,952
Number of Options, Canceled or Expired	(1,068,149)
Number of Options, Ending Balance	5,298,869
Number of Options, Vested and Exercisable	2,936,262
Weighted-Average Exercise Price, Outstanding, Beginning	$ 12.51
Weighted-Average Exercise Price, Granted	2.08
Weighted-Average Exercise Price, Canceled or Expired	10.66
Weighted-Average Exercise Price, Outstanding, Ending	8.01
Weighted-Average Exercise Price, Vested and Exercisable	$ 12.22

Share Based Compensation - Summary of Fair Value of Stock Options Granted of BSM (Details)	9 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
Expected Volatility, Minimum	94.61%	107.07%
Expected Volatility, Maximum	100.34%	110.93%
Expected Dividends	0.00%	0.00%
Risk Free Interest Rate, Minimum	1.81%	1.26%
Risk Free Interest Rate, Maximum	2.93%	1.58%
Minimum [Member]
Expected Term	5 years 4 months 6 days	5 years 6 months
Maximum [Member]
Expected Term	6 years 6 months 3 days	6 years 6 months

Commitments and Contingencies (Details Narrative)	9 Months Ended
Commitments and Contingencies (Details Narrative)	Jul. 31, 2018
Corporate Office & Manufacturing Facility Lease [Member]
Operating lease expiring date	Nov. 30, 2025

Commitments and Contingencies - Summary of Future Minimum Payments of Operating Leases (Details) $ in Thousands	Oct. 31, 2017 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2018 (remaining)	$ 262
2019	1,107
2020	1,233
2021	1,318
2022	1,369
Thereafter	4,378
Total	$ 9,667

Income Taxes (Details Narrative) - USD ($) $ in Thousands		9 Months Ended
Income Taxes (Details Narrative) - USD ($) $ in Thousands	Dec. 22, 2017	Jul. 31, 2018
Income tax reconciliation description	The U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the "Tax Act"). The Tax Act significantly revises U.S. corporate income taxation by, among other things, lowering the U.S. corporate income tax rate from 35.0 % to 21.0% effective January 1, 2018. The decrease in the U.S. federal corporate tax rate from 35.0% to 21.0% will result in a blended statutory tax rate of 23.2% for the fiscal year ending October 31, 2018.
Income tax effective tax rate	21.00%
Net operating loss carry-forward		$ 32,700
October 31, 2018 [Member]
Statutory tax rate, percentage		23.20%

Stockholders' Equity (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	9 Months Ended
	Feb. 28, 2018	Jul. 31, 2018	Mar. 21, 2018	Oct. 31, 2017
Number of common stock shares sold		881,629
Proceeds from sale of common shares		$ 2,700
Common stock, shares authorized		95,000,000	30,000,000	95,000,000
Underwriting Agreement [Member]
Number of common stock shares sold	10,000,000
Sale of stock price per share	$ 2.00
Sale of stock transaction during period, value	$ 18,400

Subsequent Events (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Sep. 07, 2018	Jul. 31, 2018	Oct. 31, 2017
Warrants to purchase common stock		3,092,395	3,092,395
Warrants to purchase exercise price		$ 5.00	$ 5.00
Subsequent Event [Member] \| IPO [Member]
Common shares issued during period	16,666,666
Warrants to purchase common stock	0.85
Exercise price expire terms	6 years
Warrants to purchase exercise price	$ 1.50
Gross proceeds from public offering	$ 20,000
Subsequent Event [Member] \| IPO [Member] \| Maximum [Member]
Warrants to purchase common stock	14,166,666