Ayala Pharmaceuticals Inc (ADXS)

[hovacre]

Well with the ADXS-NEO, it is basically what I expected, plus a little bit more. Stable disease in a lung patient is encouraging, but mostly we don't have a good read yet on the overall efficacy of this approach. The phase 1 study was not designed to see that.

As for the prostate study, these are encouraging results, but the patient numbers are so low that it's tough to make any conclusions at all. 6/6 ongoing responses is quite an encouraging signal, but we have to be careful with interpreting it.

Does it signal that Merck is on the cusp of signing a deal? No clue on my end! I think dilution is all but assured at this point to keep paying the bills until we can broker that deal.