Ayala Pharmaceuticals Inc (fka ADXS)

[jckrdu]

"I think the company would be foolish to refrain from licensing any HOT indications at all until data is available. I would be okay with licensing one or two now to raise cash and then waiting. I do not see raising a measly $30m with 60% dilution as an acceptable option whatsoever."
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It depends on how much upfront cash Ken can get for HOT constructs now, before data. Fact is that biotech's value go up exponentially after solid data is released. If Ken can only command $5M-$10M upfront now for HOT NSCLC without data, but believes he can get closer to $100M up-front after data in 6-9 months, he's going to lean towards the latter. (Getting $10M now upfront for HOT NSCLC isn't going to solve any longer-term cash issues. After 3 months ADXS will be back in same cash predicament.)

Also disagree that $30M would be "measly". If AXAL/Cervical is wound down, a $30M raise would be close to 1 year runway.

Hopefully they land some cash from AMGEN milestones or maybe even AXAL/cervical. IMO, Ken considers the HOT constructs his remaining crown jewels, and is only going to partner them from a position of strength.

Anything's possible... including your scenario. GLTA.