Ayala Pharmaceuticals Inc (ADXS)

[ubmmg]

I am afraid you are wrong about the share price reaction on the lukewarm business update. Every business update so far has resulted in at least a 5% to 10% haircut within few days except for the last year when we dropped like a rock. Why this time it would be different? The possibility of a massive dilution would be much higher if no clear path to avoid dilution is outlined, or any milestone payment is reported, or an imminent cash inflow through the licensing is not suggested. We still have almost 7% short interest and they will not be sitting there and watching. What if large funds decide to lighten up in an absence of a real catalyst within few months? I hope we will not see an over-reaction, but we might break our 52-week low. Once again. This is avoidable if Ken Berlin delivers something tangible. I'd hate to see if Tony's tenure was a complete bust.