Ayala Pharmaceuticals Inc (ADXS)

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Mpreorder, I remember right after DNDN received FDA approval it shot up from a low of around $3-$4 to over $50 for a valuation of over $5 billion. I didn't follow it before FDA approval but it seemed like FDA approval catapulted it to a never-seen-before valuation. But remember, back then DNDN was I believe the first immunotherapy approved (maybe next to Yervoy) so FDA approval was a huge deal. Then afterwards it spiraled down because it never could gain operating traction, probably because of the high cost of the treatment and questionable efficacy. I think today the challenge ADXS faces is that immunotherapies in general have become more effective and while ADXS was novel seven years ago, there are other platforms that look promising as well and pose competitive threats, which could be one reason we have experienced shareholder value erosion over the last few years.