Ayala Pharmaceuticals Inc (fka ADXS)

[ubmmg]

withdrawal of the EMA

An EMA application and a subsequent withdrawal highlighted two major issues with Advaxis:
1) The misdirection of the company, a failure to identify the priorities, and failure to adequately assess the risks associated with the approval process: The management should have known the data for an EU approval was not sufficient and they should never have spent any resources to file for EMA approval. This is solely on the management.
2) A corollary from the Item 1: spending issues. They have spend too much money and human hours to prepare and file the EU application. All in vain.
Pathetic management, and pathetic outcome for the shareholders.