If I had listened to more of the negative arguments two years ago, I would have saved myself losses. Maybe I'm trying to pay it forward to others so the Board is balanced and not all far fetched pumping.

You mean suffocating your one sided pumping?

Because I have the right to re-enter if I see and investment case for it. The message board if for debate, both pros and cons.

It doesn't matter what I say. It's what smart money institutional investors and big pharma say, and they have spoken.

How quickly the smell of optimism turned to the same old stench of manure we have had for the past two years.

High volume this morning, market must be impressed with the new cashless investigator-sponsored deal!

At this point, it is about the science and clinical trial data not living up to expectations, hence very little institutional investor interest or big pharma interest willing to put money behind ADXS' technology. Aduro shut down their LLM program for the most part because of lackluster trial data. Sid(Rat)Sky is trying to milk ADXS retail investors and toxic financing sources for every last drop he can get. As far as I can tell, the reverse split and dilution on horrific terms is still going through...unless we get the type of deal some have been predicting with $100 million of upfront non-dilutive cash. I don't think it will happen, but I could be wrong.

Agree with you on that. When I see the reference in the presentation to a new investigator sponsored deal, the translation is still "no big pharma believes in our tech enough to put money behind it, so we had to a turn to an association to contribute funds but with nothing upfront to us". Also, it's not a good revelation that ADXS has data on NEO because everyone thought Amgen made its decision without any data availability. Now we know that is not true. Folks can spin it the way they want, but it's hard to refute that Amgen's assessment of the data was a contributor to their decision that NEO was not worth further investment.

I'll agree with you if ADXS lands a deal for NEO or HOT or AXAL similar to the Amgen deal with $40m+ upfront. If that happens it would likely push the stock back over $1 and reduce the need for a reverse. I'm not convinced it will happen, because they've been looking to partner AXAL and HOT for the last two years with little interest. And the fact Amgen dumped NEO makes it less likely anyone will pay as much as Amgen did for it.

I bet the termination was triggered by a combination of the long time it took and manufacturing challenges to get to the point of the trial startimg combined with when they finally got a read of the prelim data it didn't impress them. So high cost (which they referenced) and the riskiest (which they referenced and was likely based on the prelim data not pointing to a high probability of success) resulted in their strategic repriorotozation away from the partnership.

I understand that, but Amgen had the data so it likely fell short of their expectations at this stage because they ultimately decided they would rather lose $65m already spent rather than risking putting more in the program.

They may find another NEO partner, but I don't think it's really encouraging that they have data already because now it's clear Amgen also had the same data and it was a factor in their overall decision to end their investment in the program.

IMO the NEO data they are released is likely limited and not particularly impressive, because Amgem had access to the data and it was likely a factor in their decision to end the partnership.

Let's see if the deal includes $100m upfront like Blue predicted for AXAL.

Funny, Amgen, the largest and smartest biotech in the world, concluded the ADXS science has holes in it, yet the stock is going to go up 10x from here. I would say it is currently at fair value based on the deterioration in fundamentals.

The fact they bailed is the point and huge blow. Yes, no one knows the exact reason, but they clearly aren't as bullish on the science as they once were (whether it's be cause they think other of their deals have better prospects, or NEO is not attractive because of the cost and manufacturing process, or that they saw actual data that they didn't like no one will know) but they point is the only pharma that had skin in the game behind ADXS' tech just left. Berlin said Amgen referenced strategic reprioritozation, the manufacturing costs and that further investment was risky. That is about the prospects of the science being a clincial and commercial success.

You're assuming they are releasing data. We don't know that, as the PR just referred to a development. I doubt it's data because they would only want to release positive data, and if the data were positive Amgen likely would not have bailed. Best case the "development" is a new partner but I could just as easily see the following "we have decided to put a hold on the NEO trial since we lost our partner and neither have the internal competency or financial resources to do it ourselves. Don't get your hope high for a deal any time soon as we're not seeing much interest in LLM especially after Adruos' trial failures and new more promising approaches to treat cancer."

Jess, I respect your seeing this through the end, but things look pretty bleak. The combination if the massive dilution with the reverse split watered down LTSH ownership combined with Amgen saying good by point to significantly lower chances that the compnay will succeed. It's been clear in recent months that the first gen constructs weren't seeing much interest because the trial data has not been that strong, so the investment thesis was "yea but NEO is the future and we are backed by the largest smartest biotech." So Amgens departure was a game changer, like if you are a small retailer and your product is only sold in Wal-Mart and they pull the plug.

Amgen knows far more than I do about the science and their decision that the science is not worth further investment changed the fundamental outlook for the company and the reverse split is the finap nail on the coffin.

Saying everything that has happened to ADXS is bad luck having nothing to do with the clincial trials not producing good enough data to attract ongoing interest from investors and pharmas is not recognizing ADXS has been a bad investments for fundemenal reasons, which is harder to come to grips with.

One could also argue the flip side, that the reason the company was able to raise $250m was because of good luck with a biotech bull market and investors generously giving ADXS a chance with lofty expectations...fast forward to now, luck has run out as the market has not been impressed with the aggregate data and inneficient spending, so now the valuation is based on fundamentals.

Amgen terminated its partnership simply because of bad luck? No one has shown interest in any monetary deal with the company simply because of bad luck? For a company that has so much going for it, it's unfortunate the all the setbacks have been a result of nothing other than bad luck.

I'm sorry but companies don't lose more than 95% of their value, the majority of their institutional investors and their only paying partnership just because of bad luck.

If, if, if...well we know they have been working on trying to get such deals the last couple years and havent been successful. If they had been, the stock would not have colllaped and the compnay wouldn't be in the weak position it is in today having to do a reverse. Negotiating deals from a position of weakness usually ends up with weak deals. We shall see.

Given that Amgen looked beneath the hood and was not impressed, not so sure the next deal ADXS strikes will be too good.

The proposed reverse is between 1:10 and 1:25, so even if positive news in the futures results in a gain of couple dollars, that only translates to a 8 to 20 cent increase relative to today's price. That's why reverses are considers part of toxic death financing.

Frontrunner yes, but unfortunately listeria-based therapies in cancer treatment are going the way of the 8-track tape in the music industry.

ADXS hit $30 in a raging biotech bull market based on hope and expected results. Now that the market has seen more clincial trial data, companies are currently being valued on the science, resulting in winners and (unfortunately for ADXS) losers.

The market is not always right, but with ADXS it has been spot on. The ADXS valuation correction we have seen over the last few years down to current fair value has been validated by 1) trial data not good enough given the evolving competitive landscape, 2) poor financial management, and 3) the ultimate validation...Amgen's determination that the science has fallen short of expectations and therefore not worth further investment.

The only way it will get back over $1 is after the 1:25 reverse split. The market is currently assigning fair value of the science as evidenced by the trial data and lack of Big Pharma and investor interest.

"For those of us that are trapped for years---If you still believe in the science,like I do,then our day will come."

Regarding belief in the science, I respect Amgen's expert opinion on the science. Unfortunately, our day already came...in 2015 when the stock got ahead of itself significantly. Since then, the company has generated considerable data that has been absorbed by investors and big pharma and fell short of expectations, hence the valuation correction we have seen to current fair valuation.

"It does`nt seem like it now,of course,but I`ve seen many spec bios beaten down to pennies,to only miraculously spring back to life."

I have also seen many people win the lottery.

"Some have taken a reverse split,prior to their stock springing back to life,combined with news that makes their science look promising towards a successful commercialization."

Some have also won the lottery.

"Adxs just needs that news desperately,now,to avoid needing a reverse"

Miracles do happen sometimes.

"With Adxs`s stock trading at less then a zero value for all of it`s science and platforms,it would`nt take much to bring some value back into the share price for them,as they each prove they`re alive and kicking out the good data. It`s been so long that the street is treating them all like they`re dead and worthless,so data will bring them back to life,and in turn the share price will start to reflect value back for them."

What pushed the stock up in the past what hope and expectations and reputable investors like Adage buying the promise as well as Amgen. What has brought us down has ultimately been the data falling short, coupled with wasteful financial management blowing through a lot of cash with nothing to show for it, causing the exodus of interest. ADXS has generated plenty of data over the last several years, just that it hasn't been that good, and Aduro shut down its LLM program. IMO it'd doubtful that ADXS data in the future will be any different.

"There will be a much better opportunity for shareholders that are stuck in the mud,who want to get free and move on to what they might think will do better for them going forward as an investment."

When one of the most diehard bullish investors in ADXS is hinting that he's ready to move on and wants to get out at a higher price, then who is it that is looking to buy...exactly, no interest and stuck at current fair valuation.

The catalyst for my 180 degree turn on the chances ADXS has to succeed came from Amgen's determination that the science is crap (as implied by their terminating the NEO development deal and throwing $65m spent down the toilet). I'm humble enough to know Amgen knows more than me about the science.

It is only scam companies that blow through $250 million and loose 95% of their value then turn around and propose yet another reverse split and dilution on terrible terms when they already did a reverse split only five years ago.

The company has been looking for partners for two years and no takers and Amgen just decided its partnership on NEO wasn't worth it, so given ADXS' position of weakness highly unlikely they will get that much upfront in a deal. Anyone willing to put up $100m could buy the company outright.

It is often said biotech involves binary outcomes with the winners taking all. I think ADXS is a perfect case in point. While ADXS has not had any outright trial "failures" the company has generated considerable trial data without any clear winners, such that investors and big pharma have absorbed the data and concluded it has not been good enough for ADXS to be among the cancer treatment winners, hence no monetary deals, an exodus of institutional investors and collapse of ADXS' valuation to a now zero enterprise value. If there was any confidence that AXAL would be a commercial success, a big pharma would have jumped on the opportunity to partner considering the AXAL Phase 3 trial is well underway at this point. And if there was any confidence that ADXS' platform combined with a PD1 would be a meaningful improvement over the other zillion combo trials out there, Merck or Astra would have already partnered via a monetary deal to lock in the rights. And regarding NEO, Amgen's decision that not investing another dime in the program was the best outcome even though it meant throwing $65 million it already spend on NEO down the toilet says a lot about the likelihood of NEO's success and cost/benefit value.

Yes, but remember ADXS already released AXAL combo data in 2017 and it was not strong enough for Astra to partner. Instead they did a large monetary deal with INO. Looking back, that was the first crack in the armor, because ADXS had a lot invested in getting Astra to do a deal on AXAL. Since then they have looked for others to partner AXAL but no takers. And AXAL has a lot of trial data, it just hasn't been good enough relative to the rapid advancement of cancer treatment.

The CRs are impressive but the aggregate data has not impressed BP enough to step up, even after three CEOs trying to solicit interest, and ADXS' only payimg partner, Amgen, terminated its deal even after putting in $65m, begging the question are competing technologies in development showing more promise and reducing demand for LLM. ADXS' zero value and Aduros winding down its LLM program points to lack of investor and BP confidence that it will be successful.

It would be a great announcement if they have repartnered NEO with Merck this quickly, but I wouldn't count on it. As Sktrader said, if it's not deal they announce its likely fluff to try to pump before the reverse since the reverse will likely pressure it back down. It's likely not anything positive related to the data, because if that were the case Amgen would likely not have bailed. I'm skeptical that Merck has struck a deal with ADXS, because if Amgen decided NEO wasn't worth it why would Merck especially since they haven't opened their wallet on PSA.

How do ADXS shareholders recoup their losses?

Scenario 1): the company shows strength by landing a pharma monetary deal that confirms the future of the science, and the reverse split is cancelled. Going "long" will make money.

Scenario 2): the company shows weakness by moving forward with the reverse split because of lack of pharma interest in partnering any construct. Going "short" will make money.

I hope a pharma deal is made and the reverse is cancelled, because if it goes through it will be the last breath of life of the company since it was confirm the company does not have interest from pharma in steeping up with a material deal with upfront cash, somethimg that is essential for ADXS given the pipeline, late and early stage assets and cash burn. No pharma interest would be a strong signal that the platform will likely not see approval or commercial success. At this point the science is talking, and whether or not a pharma steps us will tell is how strong the science is. GLTA