Ayala Pharmaceuticals Inc (ADXS)

[jckrdu]

Dew and others certainly know that "1 year of cash" doesn't mean it'll be run to zero. That statement is just a way to express what's left in the tank compared to burn-rate.

I agree that more cash will be needed by 3/2019 timeframe. Some thoughts IMO on where non-dilutive cash may possibly come from by that timeframe...

1) HOT data? No. First patient won't be treated until close to end of 2018, so data likely not coming until later end of guided 1st half 2019 timeframe.

2) NEO data? Yes. First patient treated awhile ago. IMO, its possible early data is made available (open label study) by Jan/Feb 2019, to enable a non-dilutive cash deal.

3) AXAL/PSA data? Yes. Guided to be coming 1st QTR 2019.

4) AIM2CERV partner? Yes. Plan is to redesign trial in "next several months". If they execute, they could be in talks with potential partners now that will sign-up on the condition that they get the revised trial design approved by the FDA, so interim data readout moves in closer. KB still held his cards pretty close to the vest on this topic, but IMO that's what they're working towards. Could certainly take longer to land a partner after FDA approves trial re-design. My hope is they're only going thru the redesign because someone has expressed interest in partnering if they can get it done with FDA.