Ayala Pharmaceuticals Inc (ADXS)

[ubmmg]

It's all relative. Depends who you ask that question.
For the BOD and management, nothing has really changed from their frame of reference. They are going to get an extended cash runway to keep their jobs and salaries for few more months. Yes, their options got castrated, but who cares, they were free.
For the real long term shareholders, our frame of reference just flipped a direction of motion and got same acceleration. With an added gravitational forces, our bag got much heavier. We are one or two steps closer to being obliterated. That's what lousy companies do to their legacy share holders -- wipe them clean.
Shorts are likely in celebratory mood. I wish I bought some puts before the conference call. I thought they would do a raise AFTER the conference call, not BEFORE. I was wrong. This raise sends a clear and loud message: there are no monetary deals in the near term.