Ayala Pharmaceuticals Inc (fka ADXS)

[jaxstraw]

Agreed, and I believe Optimus still has the right to buy 139 more Series A Preferred Stock for 10k each in the near future.
That would be almost another 1.39 million.
The Stonegate report states they have 3.5 million left on a draw down loan of 5 million also.

They state in the recent 10k that they will have commitments of about 12 million in the upcoming 12-18 months.

CIN trial: $5.7-6.0M
India trial: $2.1-2.3M
NCI trial: $0.5M
UK trial: $0.5M
Prostate trial: $3.0-3.5M

The CEO on the conference call said that they were confident in their ability to raise cash this way for the near future.

Seems like they are not having too much of a problem right now, although it would be naive to think that some alternative method is not going to be needed eventually.

For a small biotech they are actually doing quite well raising money w/o serious dilution that many others seem to use all too often.