Ayala Pharmaceuticals Inc (ADXS)

[cab033]

I would say on average over the years they have done 1-2 dilutive offerings of some kind per year.

This link will give you an idea of the new shares offered over the past 5 years.

https://ycharts.com/companies/ADXS/shares_outstanding

Some of these were secondaries to the public, some were direct placements, some included as part of a partnership.

This does not include the warrants that (if excercised) will add another roughly 3 million shares outstanding. This also does not include the potential near term dilution/partnership that includes new shares at who knows what price.

I understand that dilution is part of the process, but with the outstanding share count at an all time high and SP near all time lows, that is a dangerous spot to be in when you are counting down the months till the cash reserves run out.