Ayala Pharmaceuticals Inc (fka ADXS)

[ubmmg]

So far, WS puts less than 5% probability of EMA conditional approval within 18 months, and less than 1% for an approval within 10 months. This is what is baked in the current share price: very little chance of approval and they are skeptical. Why? Besides what Zach pointed out in his SA article, the lack of a distribution partner is viewed as a sign that no BP sees is approvable, at least with the current data. Once we get a partner, then the probabilities of approval would be estimated much higher. The share price would reflect that re-evaluation.