Ayala Pharmaceuticals Inc (ADXS)

[equaloppforall]

Raja, it is not true that CEOs of biotech companies are removed only due to "bad data" or clinical adverse event, especially when this specific one is treating patients with advanced cancer. Moreover, there is a scientific advisory board at ADXS that would have had a greater say on which cancers to fight, which large pharmas to align with for the combo trials etc. Assuming there is even bad or ho hum data, that would be no reason to remove the CEO. Which is why after the clinical hold was removed the last time, it was David Mauro who took the fall for failing to exclude trial patients with implants.

We already know that EU submission for HRLA Cervical cancer will happen this year based on data that is "already" the best ever. That will be the first major revenue source for ADXS, or more likely for the company that will acquire it. If EU prospects look good, success in other indications or combinations will matter less. Tutes know this. That is the insurance that tutes would want the company to stich up, either through a big deal with a partner or by selling the company outright.

Dan has seemingly resisted the "safety first" approach for investors' money and likely (based on evidence till date) wanted to go it alone and make ADXS a standalone commercial pharma. This is no doubt a risk and likely require more waiting. I believe he paid the price for this strategy with his job.