Ayala Pharmaceuticals Inc (ADXS)

[DewDiligence]

Re: Reverse merger?

…ADXS is going to start licensing other companies’ products? LOL

No, that certainly won’t happen; however, a reverse merger, whereby a private biotech company merges itself into ADXS in order to acquire a Nasdaq listing as part of the process, is a possibility (albeit somewhat remote).

Look at the bottom portion of the table in #msg-142796034 and you’ll see how common biotech reverse-mergers have become. (In the table, these are the transactions marked with the ® symbol.)

If there is a reverse merger brewing involving ADXS (which I am not actually expecting), that would explain the need for a shelf-registration refresh before the general 3-year expiration; I alluded to this in the quoted section of #msg-143142957.

p.s. I do not think ADXS would have filed a new shelf registration for the sole purpose of removing the ATM facility. Removal of the ATM could have been handled via a simple 8-K filing.