Ayala Pharmaceuticals Inc (fka ADXS)

[jckrdu]

Problem is that ADXS is still burning through $45-$50M per year... $10M+ per quarter.

Until they're able to partner 1 or more programs and reduce their burn-rate further (while adding non-dilutive cash to balance sheet), the market is going to have a hard time valuing the company any higher than cash on hand... because that cash is flying out the door. (The later-stage biotechs I'm invested in - pivotal data coming in 12 months or less - have burn-rates much lower in the $30-$35M per year range.)

Market is not showing any confidence that any such deal is coming anytime soon.

Latest guidance in the recent prospectus is that current cash (after this $10M raise) will only last another 9 months.

IMO, some type of deal is coming summer/fall, so perhaps some relief then.

GL all.