Ayala Pharmaceuticals Inc. (OTC:ADXS) Stock Crosses $1: How Do I Trade It Now?
There is a tendency among investors to often look for stocks that may have gained momentum. The reasoning behind that is understandable since if a stock gains strong momentum, there is a tendency for those stocks to continue in an upward direction for some time. If you are looking into such stocks, then it could be a good idea to take a look at Ayala Pharmaceuticals Inc. (OTC:ADXS).
The company’s stock has gained momentum lately, and it may be a good time to take a closer look at recent events. The publicly listed clinical-stage oncology firm was in the news on August 1 when it announced that it would present posters with regards to its gamma secretase inhibitor products AL 102 and AL 101 at an event. The event in question is the European Society for Molecular Oncology Congress 2023. The event would be held in Madrid, Spain, from October 20 to October 24 this year.
The poster file presentation from the company would be titled “Phase 2 Results from the RINGSIDE Phase 2/3 Trial of AL102 for Treatment of Desmoid Tumors,” and the presentation would be made by Professor Robin Jones from The Institute of Cancer Research and Royal Marsden, United Kingdom.
The other poster file would be titled “AL101 therapy in patients with recurrent or metastatic (R/M) adenoid cystic carcinoma (ACC): Final ACCURACY trial results and meta-analysis of clinical outcomes,” and that would be presented by Renata Ferrarotto of the MD Anderson Cancer Research Center, Houston, Texas.
AL 101 is a unique, potent, and injectable selective small-molecule gamma secretase inhibitor. The company noted that the product was in the middle of the Phase 2 Accuracy trial for the treatment of those suffering from recurrent or metastatic adenoid cystic carcinoma. AL 102 is an investigational small-molecule gamma-secretase inhibitor. The product had been designed to selectively and potently control Notches 1, 2, 3, and 4. The product was in the middle of Phase 2 RINGSIDE clinical studies.
On July 27, it emerged that the company had signed a definitive agreement with Biosight Ltd. with regards to a merger. As per the provisions of the transaction, Ayala would combine with Biosight as part of a transaction conducted entirely in stock. Biosight is a privately owned company involved in the development of innovative therapies meant to treat hematological malignancies and associated disorders.
Once the transaction is completed, the new entity will operate under Ayala Pharmaceuticals, Inc.’s name. It would continue to trade under the ticker symbol ADXS on the OTCQX exchange. It was also noted at the time that some of the current shareholders of Biosight had also agreed to the transaction. The new entity would be focused on advancing the development of a number of oncology assets, and the primary focus would be on AL 102 and AL 101 to begin with. The President and Chief Executive Officer of Ayala, Ken Berlin, noted that the lead asset, aspacytarabine (BST-236) from Biosight, was in line with the aims and objectives of Ayala.
