I don't believe there's much upside and don't believe Merck is very interested. The company basically just blew three $250m over the last five years, has a late stage trial but zero paying partners and virtually no institutional backers besides index funds and toxic financiers like CVI. Why so little interest? Because the potemtial of the science and platform has fallen short. That's my opinion. Good luck holding out. Miracles sometimes happen but fundamentally, the case for ADXS doesn't look good, hence no value assigned to the clinical program .