Ayala Pharmaceuticals Inc (ADXS)

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Fair points. From the sound of your post though my guess is you are not a finance guy. The problem is that ADXS just gave away 20% of the company for $20 million at an all time low stock price of $2 for a mere four months more of operations. That is unsustainable. If the company were to do another dilution on those terms, we are talking about an amount approaching a majority of our interests being diluted away for very little additional operating runway. This type of financing is often referred a death spiral because the severity of the dilution typically overrides any future value creation from a shareholder ROI perspective. That is where we are now, which is one of the reason I think a sale is in motion. It is a big deal when 5 our of the 8 person management team leave a company. Likely not a coincidence and not their own decision, and the company can't effectively run itself as a stand alone company with a skeleton management team. Then you have the CFO writing an article touting her skills to start up biotech, and an interim CEO in place for nine months without a permanent one being named. The signs are there that either a sale or some type of major transaction involving a change of control are in place. If it is a sale, I want the highest price possible, I'm just trying to be realistic in saying it could be sold at the low end for $10/$500 million because frankly the $2 offering is evidence that ADXS is not exactly in a position of strength.