Ayala Pharmaceuticals Inc (ADXS)

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Not sure exactly what offerings Adage participated in so you may be right. I had combed through all of the offerings and came up with a weighted average price of all of new investors under Dan O'Connor who have recapitalized the company buying in at an $12 price, so that is the cost basis of the $200 million in new money invested in the company since O'Connor took over. Adage came in a bit late and didn't participate in every offering so their timing may have been more favorable with a lower cost basis. My analysis was across all the offerings, not Adage's individual participation.