Ayala Pharmaceuticals Inc (ADXS)

[ubmmg]

I estimate that as of today, they have about $28.5M of cash left. That's just a little over 2 quarters of cash runway given their $50M/year cash burn rate. How long it's going to take before they will replenish the coffers? How much can they raise cash now? Those are two important questions now, at least for me.
The answer to the 1st question is that they need to do it now. Some here suggested that they'd be okay until around ASCO time, but it's going to be too late. The rule of thumb is you never let your cash-meter to go below two quarters. Otherwise, you'll be putting yourself between a rock and a hard place.
The second question is more difficult to address. I'd say they would be able to raise less than 1/2 of the current cap. That's about $13M provided to positive news to push the SP higher. They can extend their cash runway by another quarter. A total of 3 quarters, maximum.
I think their plan is the following. They do raise about $10M-$13M within few days, and sit tight and wait for the NEO and HOT results to mature. ASCO would be a great place to publicize the data. If clinical data is strong, then we will get support either from BP or large funds. If the data is so-so, or good but not great, we will be done by November this year. The wild card is the PSA data, but I'm really nervous they have not released any data yet. What are they waiting for? For a medical conference? They do not have to. If data is great, Merck knows it and could have make a move. But they are still on the sidelines. Why?