Ayala Pharmaceuticals Inc (ADXS)

[DewDiligence]

Re: Reading the AIM2CERV tea leaves

Let’s turn the question on its head by examining the opposite question. I don’t think anybody at ADXS knows whether AIM2CERV is producing good data, but there may well be clues that the trial is not failing badly.

If blinded* disease-free survival times in AIM2CERV observed to date were no better than what has historically been seen with a placebo (following standard chemo/radiation) in this disease setting, then ADXS would presumably have opted to terminate the trial. So, there’s at least a smidgen of rationale for investors to surmise that AXAL is showing some level of activity.

*I.e. a composite of the data from the AXAL and placebo arms.