ADRO got the bad news ADXS is down and ADRO is up.
ADRO's news tells two things: i) ADRO will not be wasting money on their Listeria-based trials as the Street likely thinks they'd rather focus on programs that may yield better outcomes. Their pancreatic trials failed a year (?) ago, thus the likelihood of these trials failing was somewhat baked in. News out, the numbers re-run and the stock is up. ii) It reduces a probability of ADXS LM-based trials to be a success, at least what WS thinks. That's my take. PS. ADRO is now almost Listeria-free, and we should be technically decoupled from them.