The path is obviuos, ADXS needs money to go beyond 2018, there are many roads to get money and all scenarios i have in mind are good except for one. Here they are:
First they can get money from non dilutive sources mainly upfront money on collaborative deals, commercialization (unlikely to be significant at this point), selling a construct/franchise, re negotiating existing Deal mainly with AMGEN, etc as these may or may not happen ANY MOMENT as negotiations are always ongoing, ADXS management can be counting on something that is in the works and they know will work and are puttiong final touch etc so they know they don't need to dilute or they don't have anything definitive and are thinking of diluting in the next few months to keep company afloat which brings us to the Second option of Dilution.
In the event of dilution there are two options one is definitely much better than the other. lets assume they are trying to get 100 million $ to last for another year and a half assuming same burn rate they can do that by selling 40 million shares at 2.5 because almost always offerings are lower than market, adding 40 million shares is about doubling our shares outstanding, that would be destructive for us Long timers. another option would be to pump the price to 10 $ and sell only 10 million shares which will get them the 100 million they are looking for and this would be more tolerable.
If you are thinking what do i mean by pump the price up just check NXTD over past week, they put out 2 PR's back to back on 2 consecutive days, they brought up price from 1.2 to 6 (went as high as 8) and then reported offering at 4 $ on the third day. so instead of rolling the offering at 1 $ they did that at 4 so they had to sell a quarter of the shares they would have sold to get the same amount of money.
As you can see all options above are good except for one which is to dilute at current price. lets hope management reads this post LOL
