Advaxis Announces Proposed Public Offering of Common Stock

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PRINCETON, N.J., March 26, 2014 (GLOBE NEWSWIRE) -- Advaxis, Inc. (Nasdaq:ADXS) ("Advaxis" or the "Company"), today announced that it intends to offer for sale shares of its common stock in an underwritten public offering. The Company intends to use the net proceeds from this offering to fund the Company's continued research and development initiatives in connection with expanding its product line and for other general corporate purposes. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Aegis Capital Corp. is acting as sole book-running manager in the offering.

The offering is being made pursuant to a shelf registration statement that the Company previously filed with the Securities and Exchange Commission (SEC) and which became effective on March 4, 2014. A preliminary prospectus supplement and an accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at WWW.SEC.GOV. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, from Aegis Capital Corp., Prospectus Department, 810 7th Avenue, 18th Floor, New York, NY 10019, or via telephone at 212-813-1010 or e-mail:

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Advaxis, Inc.

Advaxis is a clinical-stage biotechnology company developing the next generation of immunotherapies. Advaxis' immunotherapies are based on a novel platform technology using live, attenuated bacteria to stimulate the immune system to selectively target cancer cells while reducing tumor defenses.

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Cautionary Statement Regarding Forward-Looking Statements

The forward-looking statements in this news release relating to management's expectations and beliefs are based on preliminary information and management assumptions. These statements are based upon the current beliefs and expectations of Advaxis' management and are subject to significant risks and uncertainties. Specifically, no assurances can be made with respect to: Advaxis' successful completion of the proposed offering on the anticipated terms or at all; the underwriter's exercise of its over-allotment option; and Advaxis' use of the proceeds of the offering. Such forward-looking statements are subject to a wide range of risks and uncertainties that could cause results to differ in material respects, including those relating to product development, revenue, expense and earnings expectations, intellectual property rights, competitive products, results and timing of clinical trials, success of marketing efforts, the need for additional research and testing, delays in manufacturing, funding and the timing and content of decisions, made by regulatory authorities, including the U.S. Food and Drug Administration. Further information regarding factors that could affect Advaxis' results is included in Advaxis' filings with the SEC. Advaxis undertakes no obligations to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. You are cautioned not to place undue reliance on any forward-looking statements.

CONTACT: Lisa Caperelli Senior Director of Investor Relations and Corporate Communications Advaxis, Inc. 215.206.1822 Media Contact: Tiberend Strategic Advisors, Inc. Andrew Mielach 212.375.2694