Ayala Pharmaceuticals Inc (ADXS)

[ignatiusrielly35]

Okay, I have to correct myself. I was not even aware that Adage had warrants. The warrants that Adage received must be the non-traded warrants. The exchange-traded warrants did not go to Adage when it bought in during late 2014. The tradable warrants were issued in the offering of October 2013. So theoretically Adage still has its warrants, unless they sold them privately. What I cannot figure out is when they expire. They may be the July 2018 warrants. If so, Adage will need the stock well above $5 by then to profit on them. Or they could be using them as a short hedge, as speculated by Hornet & Gantor. An interesting variable added into the equation.