Ayala Pharmaceuticals Inc (ADXS)

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Agreed, highly unlikely Amgen Directors would approve a sale at a valuation more than 10x above our current valuation. IMO a more realistic price that would be approved by ADXS Board and represent fair value for a buyer, particularly Amgen is in the $500-$600m/$10-$12 range. That is the potential deal value of NEO. The sale multiple based on current valuation is still on the high end, but if Amgen wants to keep rights to HOT and PSA, it's a reasonable price. Seeing that Dan was fired and Tony elevated to sell the company (If that is the case) I don't see ADXS letting the company go for much less than $500m.