Ayala Pharmaceuticals Inc (ADXS)

[Meishairwin]

FBG, you say, "DO better act to get our valuation up or we risk getting taken out for cheap ($20-$25 share price tender offer might just do it, as shareholders are sick of seeing shareholder value erosion alongside otherwise positive developments of the company)."

I know you are frustrated and for understandable reasons. However, 5 institutional holders of some weight own ~36% of this company (Adage: 15%, Fidelity: 10%, Vanguard: 3.7%, Broadfin: 3.7%, and Blackrock: 3.7%). They, effectively, control this company.

I seriously doubt they are either frustrated or likely to sell out on the cheap (they will control any "sell" decision). Why? They see the scientific and business progress being made by the company. They understand how slow biotech business development is. DOC has been running this business for only ~3 1/2 years. That's a gnat's heartbeat in the world of biotech. 5-7 years is the likely horizon they were expecting for decent monetization when those institutions bought in. They understand biotech valuations do not progress smoothly upwards or always in line with apparent developments.

I'm not chastising, I'm just trying to put perspective on this situation to help you with your over-heated emotions.

Your DD is awesome and I really appreciate your willingness to take time to share with this board what you constantly learn about ADXS. But, you need to take a deep breath on "when is this going to be worth $30+ or $150" (the much-referenced $6B valuation).

So far, so very good in all respects with ADXS. DOC has stabilized the company with advantageous fund-raising (you raise when stock price is high, not low, so it's actually a good sign the average raise price is above where we're at now). DOC has moved the science along and nature has cooperated . Finally, he has made deals that don't suck the core value out of the company, but that could add significant value over the next 2-5 years.

GLTA.