Ayala Pharmaceuticals Inc (ADXS)

[mm2k]

You refer to the milestones like they are money in the bank, whereas the reality is that much of that milestone money is likely dependent on future sales of a product, so that money is a long ways off and far from guaranteed. The better question is why would AMGN pay $500M now when they might have to pay in the future only if the product is wildly successful? Also, in the end the one time payments are not worth very much, there has to be a product with a long run time. The only way ADXS gets to a high valuation is to have better proof of a real product down the road.