Ayala Pharmaceuticals, Inc.: M&A transaction — Ayala sells AL102/AL101 to Immunome for $20M cash plus 2.18M shares; up to $37.5M milestones

Ayala Pharmaceuticals, Inc.

Closed sale of AL101 and AL102 programs to Immunome for $20M cash, 2,175,489 Immunome shares, and assumed liabilities.
Up to $37.5M in additional development/commercial milestone payments from Immunome.
March 1 Convertible Notes ($2M aggregate) converted into 6,666,666 shares of Ayala common stock upon closing.
Immunome (Nasdaq: IMNM) will advance AL102; Ayala (OTCQX: ADXS) retains potential milestone payments.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Ayala Pharmaceuticals, Inc. completed a disposition involving Immunome, Inc. for $20.0 million in cash plus 2,175,489 shares of common stock (closed 2024-03-25).

Action: disposition
Counterparty: Immunome, Inc.
Consideration: $20.0 million in cash plus 2,175,489 shares of common stock
Closing: 2024-03-25

Exact text from the filing

On March 25, 2024, the Company and Purchaser consummated the Asset Sale pursuant to the Asset Purchase Agreement, such that Purchaser (i) paid an upfront purchase price of $20.0 million in cash to the Company, less certain adjustments, (ii) issued the Company 2,175,489 shares of Immunome’s common stock

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Source: SEC EDGAR

accession 0000929638-24-001313

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