Ayala Pharmaceuticals Inc (ADXS)

[DewDiligence]

...they just stole another 200 million worth of equity from shareholders...

What the heck are you talking about?

Most pre-commercial biotech companies have an open shelf registration so they can raise capital when they think the time is right. If you don't have a shelf registration and you want to raise capital quickly, you have to resort to a PIPE, which involves a larger discount to the market price (and hence more dilution for the same amount of cash proceeds).

To re-iterate, having an open shelf registration is normal and desirable. It has nothing whatsoever to do with management enriching itself, as some have alleged.