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Recently Presented Preclinical Data Show Potential for ADXS-NEO as Anti-Cancer Immunotherapy Agent

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Advaxis,
Inc.
 (NASDAQ:ADXS), a late-stage biotechnology company focused on
the discovery, development and commercialization of immunotherapy
products, provides an update on recently presented preclinical data
demonstrating the anti-cancer potential of their Lm vector that
presents tumor neoantigens, and is being evaluated in the ADXS-NEO
program. ADXS-NEO is derived from the Company's proprietary Lm
Technology and is being developed in partnership with Amgen.

These preclinical findings were discussed in poster presentations at the
recent American Association for Cancer Research (AACR) Annual Meeting.
Additionally, portions of these data were presented by Amgen at a podium
presentation during the European Neoantigen Summit 2018.

The first study, as discussed in a poster presentation at AACR entitled "Neoantigens
that fail to elicit measurable T cell responses following peptide
immunization can control tumor growth when delivered using a
Listeria-based immunotherapy platform,
" showed that ADXS-NEO
generates T cell responses against neoantigen peptides that control
tumor growth, even when they were identified as "non-immunogenic" using
a conventional peptide-adjuvant immunization. The poster is available
here: https://www.advaxis.com/wp-content/uploads/2018/05/ADXS-NEO-Lm-immunogenicity-AACR-poster_Final.pdf.

In the second study, discussed in a poster presentation at AACR entitled
"Targeting frameshift mutations with a Listeria monocytogenes
immunotherapy drives neoantigen-specific antitumor immunity in MC38 and
CT26 mouse tumor models,
" Advaxis' Lm platform was shown to
target frameshift mutations and generate T cells to multiple neoantigens
per frameshift in MC38 and CT26 mouse tumor models. The poster is
available here: https://www.advaxis.com/wp-content/uploads/2018/05/ADXS-NEO-Lm-Frameshift-muations-AACR-poster_Final.pdf.

"The results of these studies highlight the therapeutic potential of
targeting neoantigens and suggest that ADXS-NEO could impact the way we
approach treatment across a range of cancers," said Ken Berlin,
President and CEO of Advaxis. "We look forward to our continued
collaboration with Amgen, and to moving into the clinic with this
product candidate."

"These preclinical findings provide foundational rationale suggesting
that ADXS-NEO has the potential to generate immune responses against
multiple neoantigens with the ability to control tumor growth. This is a
personalized approach that uses a patient's own immune system to
recognize and eliminate cancer cells harboring multiple mutations that
caused their malignancy," said Robert G. Petit, Ph.D., Chief Scientific
Officer and Executive Vice President of Advaxis. "We also saw potent
immune responses targeting frameshift mutations and control of tumor
growth via multiple complementary mechanisms. This is important because
frameshift mutations are observed to generate up to nine times more
neoantigens per mutation than in-frame mutations" according to Turajlic,
et al.

About ADXS-NEO

ADXS-NEO is a personalized Listeria monocytogenes (Lm)-based
immunotherapy designed to generate immune response against
mutation-derived tumor-specific neoantigens. The program focuses on
creating a customized treatment with neoantigens specifically selected
based on a biopsy of the patient's tumor. The approach enables the
development of tailored immune-therapies. ADXS-NEO is being evaluated in
collaboration with Amgen.

About Advaxis, Inc.

Advaxis, Inc. is a late-stage biotechnology company focused on the
discovery, development and commercialization of proprietary Lm-based
antigen delivery products. These immunotherapies are based on a platform
technology that utilizes live attenuated Listeria monocytogenes (Lm)
bioengineered to secrete antigen/adjuvant fusion proteins. These Lm-based
strains are believed to be a significant advancement in immunotherapy as
they integrate multiple functions into a single immunotherapy and are
designed to access and direct antigen presenting cells to stimulate
anti-tumor T cell immunity, activate the immune system with the
equivalent of multiple adjuvants, and simultaneously reduce tumor
protection in the tumor microenvironment to enable the T cells to
eliminate tumors. Advaxis has four franchises in various stages of
clinical and preclinical development: HPV-associated cancers, neoantigen
therapy, hotspot/ cancer antigens and prostate cancer.

To learn more about Advaxis, visit www.advaxis.com
and connect on Twitter, LinkedIn, Facebook, and YouTube.

Advaxis Forward-Looking Statement

This press release contains forward-looking statements, including, but
not limited to, statements regarding Advaxis' ability to develop and
commercialize the next generation of cancer immunotherapies, and the
safety and efficacy of Advaxis' proprietary immunotherapies. These
forward-looking statements are subject to a number of risks including
the risk factors set forth from time to time in Advaxis' SEC filings
including, but not limited to, its report on Form 10-K for the fiscal
year ended October 31, 2017, and on Form 10-Q for the quarter ended
January 31, 2018, which are available at www.sec.gov.

Any forward-looking statements set forth in this presentation speak only
as of the date of this presentation. We do not intend to update any of
these forward-looking statements to reflect events or circumstances that
occur after the date hereof other than as required by law. You are
cautioned not to place undue reliance on any forward-looking statements.

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