Ayala Pharmaceuticals Inc (ADXS)

[ubmmg]

I'm stunned...
As of 4/30/18: "the Company had approximately $58.8 million in cash, restricted cash, cash equivalents and short-term investment securities on its balance sheet"
Per today's 8-K:"On September 6, 2018, Advaxis, Inc. (the “Company”) disclosed that, although it has not finalized its full financial results for the fiscal quarter ended July 31, 2018, it expects to report that it had $40.4 million of cash, cash equivalents and restricted cash as of July 31, 2018."

So, after all cost cuts and layoffs, and promising to reduce the cash burn down to $50M per year, they had $18.4M of cash burn last quarter? That's almost $6M higher than expected/promised burn of $12.5M per quarter. No surprise, they decided to do a raise as they could not control the cash burn rate. Geezus...