"Do you believe ATM is a better option than the secondary? I am afraid they both are equally dilutive, however, the secondary can be a better option if the offered shares end up in the hands of right institutional hands. Meanwhile, the ATM can be very destructive if not used judiciously."
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I'd only use the ATM on a short-term basis to build cash if the AXAL partnership discussions start dragging on. Advaxis management doesn't want to be sitting across the table from a potential partner with a very low cash balance. Tap the ATM so you negotiate from a position of strength. That's exactly what ATHX did while negotiating and securing their latest $56M deal with Helios.
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