Ayala Pharmaceuticals, INC

Ayala Pharmaceuticals finalized the sale of its AL101 and AL102 programs to Immunome for $20 million in cash, stock, and potential milestone payments, and has released pro forma financials reflecting the transaction.

Ayala Pharmaceuticals reports the departure of its Chief Medical Officer and the planned departure of its Chief Financial Officer following the completion of an asset purchase agreement.

Ayala Pharmaceuticals has finalized the sale of its AL101 and AL102 programs to Immunome, receiving $20 million in cash, 2,175,489 shares of Immunome stock, and potential milestone payments up to $37.5 million.

Ayala Pharmaceuticals has obtained an additional $2 million in funding through the issuance of senior convertible promissory notes and warrants to existing lenders.

Ayala Pharmaceuticals has reached an agreement with its Chief Medical Officer regarding his compensation and termination terms following the company's asset sale to Immunome, Inc.

Ayala Pharmaceuticals has issued over 30 million shares following the full conversion of senior convertible notes and warrants, and has received stockholder approval for the sale of substantially all of its assets.

Ayala Pharmaceuticals has filed an amendment to its annual report on Form 10-K to include information required in Part III, which was initially omitted.

Ayala Pharmaceuticals reports a significant net loss of $48.1 million for 2023 and expresses substantial doubt about its ability to continue as a going concern after selling key assets to Immunome.