Replies to post #85096 on Ayala Pharmaceuticals Inc (ADXS)

[Donjayouworry]

Based on how Ken discussed the Amgen milestone payments; I wouldn't expect anything any time soon. He all but confirmed they are backloaded, or at least did not mind if his vague response caused us all to believe that they are backloaded. Anyone have a different take?

[jckrdu]

Hard to make any definitive statements as all scenarios are possible... dilution before deals, or deal(s) before dilution.

IMO, a deal with upfront cash for the 1st NEO indication is the most likely scenario, as AMGEN should have high interest, trial is open label, and they should have some prelim data 1st qtr 2019.

IMO, even if a partnership isn't announced before dilution, in worst case they should be able to at least release some new data (AXAL/PSA or initial NEO data) to get the valuation higher, before going to the capital markets.

On potential AMGEN milestone payments, I think you should eliminate it from your thinking, as they're simply unknown and likely highly back-ended. A nice surprise if one hits is how I'd view it.