Ayala Pharmaceuticals Inc (ADXS)

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I stand by my belief that the primary reason Dan did that offering shortly after the Amgen deal was to negate the upward valuation reset (16 pps) from the Amgen deal so that he could lock in a low strike price (8 pps) for his management options grant. Sure no way to prove it but my suspicion is based on a well founded character assessment after seeing what he did in plain sight to shareholders in 2014. Hopefully at a certain point our large holders like Adage and Broadfin and Fidelity will draw a line in the sand and lobby for a new CEO if Dan continues to fail to generate shareholder value.