Ayala Pharmaceuticals Inc (ADXS)

[ubmmg]

The stock price was up ~20% in the pre market, and now I see it's down 15%. I do not follow that stock, just pointed out the deal, where J&J put their money. It looks like ARWR virtually sold almost everything, derisking their pipeline, however, their valuation is now dropped as the potential upside is now gone. It should always be a balance between what you keep and what you sell -- you need cash to advance what you have in your pipeline.
Similarly, ADXS sold NEO for very cheap options to Amgen, thus capping the potential valuation. The problem was they did not get enough cash to move the rest pipeline to the finish line, and then squandered even what they got.