Ayala Pharmaceuticals Inc (ADXS)

[cdiddy01]

I think he needed it for his narrative of cutting costs and headcounts to preserve cash. He had to do something and getting that out there on the conference call was the best way. He didn't need to announce it from a deal or negotiation standpoint. IF there was a deal he could have just waited and finalized it or called BMY/MERCK/ETC and told them we're done unless we can come to an agreement. AXAL seems to be of little interest to the market right now.

This is a fire sale IMO and I've written AXAL off as a cash savings return...

It also says to Wall Street we're a NEO play now.