Ayala Pharmaceuticals Inc (ADXS)

[mpreorder]

Someone correct me if I'm mistaken, but as I recall, the last RS occurred sometime in the fall. In December Adage bought in and by the end of that year we were moving up 10-30% per DAY.

My point is that a RS certainly isn't a death bell AND that there will be time to read the tea leaves afterwards. I counsel vigilance after it occurs. If a partner is announced soon after the RS it will have to come with substantial upfront cast to avoid more dilution. I'll be paying very close attention to the cash runway. It appears we'll need 2-3 years cash on hand to finish up aim2cerv, but an earlier mid point readout will affect the sp as well.