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Completely wrong.
There are several decent biographies about Warren Buffett. You ought to read one.
You would think that the supposedly smart lawyers in charge of nwbo would know about the statute of limitations.
When did nwbo start Direct trials? No sign of anything on the FDA site.
I agree that nwbo's year is basically flat. That is not a change in my opinion or adopting anything of yours.
That's not quite right.
OS vs a trial's own control is the Gold Standard. Not OS vs a handful of other trials where all of the key predictive variables are tilted in favor of nwbo.
You're missing the point.
nwbo stock was below $1 two weeks prior to 5/9. nwbo stock was below $1 after 5/10.
There was a 2 week manipulation up by persons unknown (at least to me). That upward promotion left an air pocket that collapsed on 5/10. You may think AF is influential, but that bubble would have popped whether he said anything or not.
There is no need for a defense where there are no damages.
Look at a YTD chart for nwbo.
https://finance.yahoo.com/quote/NWBO/chart?p=NWBO#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--
Stable below $1 for 4 months
Two week spike ending 5/9
Stable below $1 for 6 months
Any rational observer is going to see that as a two week spike in anotherwise stable situation. If there is any wrongdoing, it is the 2 week promotion leading up to 5/9, not the restoration of a stable price level.
Cofer is far too busy with the work of the Special Committee of the nwbo Board convened to counter Phase V. He'll get to the short sellers in due time.
Shareholder inquiry: What is going on with the change in completion date of the Phase 3 trial on clinicaltrials.gov? Is there a new change or delay in the trial?
Company answer: No, there is no new change or delay in the Phase 3 trial. In all of our public presentations all year long, we have stated that we anticipated finishing the recruitment this fall, and reaching the primary endpoint around approximately the end of summer or September of next year. The clinicaltrials.gov profile was very out of date, and the change of date in that profile from September of this year to October of next year simply conforms the clinicaltrials.gov profile to the information we have provided publicly all year long, plus about a month of cushion to take account of the temporary hold on new screening for the trial as we announced in August.
We are also updating the profile to correct the number of patients. As stated in all of our presentations for over a year, the total enrollment will be 348. The clinicaltrials.gov profile was very out of date in listing 300. We will simply be conforming the number in the profile to the number we have long presented publicly.
Source: Exhibit 99.1 from SEC 8-K filing dated 10/8/2015
https://www.sec.gov/Archives/edgar/data/1072379/000114420415058675/v421895_ex99-1.htm
The point is that nwbo has never been very good about estimating trial completion or updating the FDA site. Best not to rely on either, or read anything into updates, or lack thereof.
nwbo management's duty (nwbo bylaws, Delaware law) was to hold ASM within 13 months of the previous ASM. They have failed that duty.
Failure to hold the meeting in timely fashion is clear evidence they either do not know their duties, or simply choose to ignore them.
I await your factual evidence that nwbo management intends to hold an ASM anytime soon. Not interested in unsupported opinions. Facts only please.
@Gary, please re-read. I didn't miss any of that.
Sawston - I mentioned the PRs.
SNO - covered under usual conference speculation. It's no different than any of the last 7-8 years of conference hype. Maybe Asco 2025 will be the one?
Annual meeting - We're both guessing as to whether one happens this year, but there is no reason whatsoever to think it is tied to an industry conference.
@Patty, You've missed remarkably little - lots of sound and fury signifying nothing.
Upcoming - nwbo Q3 10-Q should be out next week.
Annual Meeting - 7 months late. My guess is they blew it off.
Conferences - usual speculation that you've seen for years.
There's a new series of class "C" Preferred Stock.
UK - A couple of PRs about the site. No confirmation that nwbo has submitted dcvax to UK regulators (or any other country) for approval 2 years after data lock.
Unfortunately, Becraft's record of advancing wholly meritless claims does not end with Ward. United States v. Stahl, 792 F.2d 1438 (9th Cir. 1986), cert. denied, 479 U.S. 1036, 107 S. Ct. 888, 93 L. Ed. 2d 840 (1987), and United States v. Sitka, 845 F.2d 43 (2d Cir.), cert. denied, --- U.S. ----, 109 S. Ct. 77, 102 L. Ed. 2d 54 (1988), appeals in which Becraft served as co-counsel and counsel respectively, addressed the claim that the Sixteenth Amendment was never properly ratified and that therefore the federal courts lack jurisdiction to entertain tax evasion prosecutions. Needless to say, both courts soundly rejected this contention. See Sitka, 845 F.2d 44-47; Stahl, 792 F.2d 1438-1441. Becraft's record in the federal courts thus exhibits an alarming willingness to utilize appellate court resources to adjudicate claims that a competent attorney should realize have no reasonable possibility of success.
https://law.justia.com/cases/federal/appellate-courts/F2/885/547/144356/
nwbo's 10 year return suggests just the opposite. Way to cherry pick your time period!
OS versus a trial's own control group is the Gold Standard.
@Jim, you are correct that nwbo has been doing well at filing 10-K and 10-Q in timely fashion. Also correct that it was not always so.
Perhaps nwbo has totally blown off the ASM for 2022? There is no legitimate reason for being 7 months late, and a lame excuse will just be embarrassing. The shareholder base is so compliant that nwbo can simply hold a meeting in April 2023 saying nothing. Management defenders will laughably proclaim it "best practice"
I doubt any regulators are even looking at nwbo's ridiculously delayed ASM. Companies simply don't do this so it's not on regulatory radar.
SEC - not their issue.
Delaware law - It is potentially their issue, but only if a stockholder (to have legal standing) makes it an issue. This is so far out of the ordinary that it's not regular business.
nwbo bylaws - Yes, they are in violation, but a shareholder has to make it an issue.
There is no evidence any regulatory is even aware of nwbo's ASM, much less that they have approved of the delay.
There is no regulation of Quiet Periods because they are not real. Have you ever heard of such nonsense from any other company? No.
You also never hear of other companies delaying ASM for 19 months (and counting). This is simple nwbo management failure. No excuse for it.
SEC Notice of Effectiveness for S-3 filing
https://www.sec.gov/Archives/edgar/data/1072379/999999999522003131/xslEFFECTX01/primary_doc.xml
More routine business, just like nwbo updating the S-3 after the 3 year expiration of the previous S-3.
Since FINRA banned Larry Smith from the investment industry, he has plenty of time on his hands.
Best practice would be if nwbo had quarterly calls just like every other company. Take a few questions, answering what they can.
It would be nice if nwbo held an Annual Meeting every 12 months, just like every other company, instead of 18 months and counting.
There's nothing special about the constraints facing nwbo. Every other firm has similar issues, yet they manage to communicate with shareholders and analysts.
First you make the heroic assumption that nwbo's article is published in NEJM.
Then you somehow believe that there will be sales driven by that publication even without regulatory approval. Total bullshit.
Did nwbo release TLD - yes. Doesn't matter who presented it. Company acknowledged it in a PR.
Quiet period - No. Fabricated by apologists as a catch-all excuse for poor nwbo communication.
ASCO - nothing new
Liau was genuinely ill. European covid quarantine restrictions were so strict at the time that it would have been impractical for her to present even if she felt up to it.
I believe .gov endpoints were changed during the week after 5/10. To me, changing to OS as primary is fine as it's a more relevant endpoint than PFS.
If external controls were specified at the start of the trial, that would be fine, but not as a post hoc change. Also note that predictive characteristics are all skewed in nwbo's favor as shown on page 19 of the NYAS presentation.
Recurrent GBM wasn't even part of the original endpoints. Those new endpoints are a post hoc Hail Mary attempt to salvage something from the trial.
You're also being duplicitous regarding nwbo and NEJM.
There is zero evidence that nwbo has submitted to NEJM. You have mistaken coincidence for causality regarding nwbo's failure to communicate properly with shareholders (no ASM, no conference calls ever, etc.)
100% correct.
You just proved Bob's point to absolute perfection.
The word he blanked out due to it being deleted once was "apologists".
Yes, and maybe LP will put her loan into default so she can pay herself penalty interest, and grant herself more warrants for extending the loan.
She already did all of those things in the past, so don't be surprised if she repeats them.
And of course her loan will be paid back in full despite nwbo still needing more cash.
Thank you for injecting some much needed rationality about the concept of skin in the nwbo game. You are 100% correct that it is about having your own capital on the line, not just owning shares/warrants/options you granted yourself.
Total nonsense. The nwbo market cap you cite as $1.2B destroyed didn't even exist two weeks prior to May 10th.
So was it manipulation upward leading up to May 10th, or manipulation downward on May 10th? I doubt anyone could prove a legal case either way.
For that matter, how do you know nwbo is going to hold an ASM in 2022?
Assuming there is, nwbo is so constrained on share availability (warrant conversion, "C" share conversion, management options) that it would be advisable to increase common share authorization. That requires a shareholder vote.
That's fine, and my point was that nwbo return on investment is highly dependent on the date range. As with any investment.
Here's the nwbo 10 year return for you: -87%
The trial was not stopped, but new enrollment for the trial was stopped for approximately 2 years, perhaps before your knowledge of nwbo.
"We obtained a new FDA clearance and re-approvals by all the clinical sites, and commenced the new Phase II trial in early 2008. Unfortunately, we had only been underway for a short period when the economic crisis hit. We were able to keep the trial open, and continue treating the patients already enrolled in the trial, but we had to suspend new enrollment of additional patients into the trial. This suspension continued through the end of 2010, solely due to the severe economic downturn and resulting resource constraints."
Source: nwbo 10-K https://www.sec.gov/Archives/edgar/data/1072379/000114420413020507/v338517_10k.htm
"Happy Together" is by the Turtles, not the Beatles.
Don't know what happens behind the scenes.
I view SoS and AF as flip sides of the same coin. There is no proof of either getting paid, but both seem extremely biased rather than independent.
I agree that Dr. Liau has no financial interest in nwbo.
Also thanks for my laugh of the day with your claim that SoS is an independent source.
That doesn't fit the timeline. nwbo stopped using Cognate well before acquiring Flaskworks, as you should know. Easily verifiable from the Related-Party Transaction section of SEC filings.
nwbo stopped using Cognate because the ownership changed (no longer Toucan), not because the tech changed.
Some of the biggest bullshit narratives:
nwbo quiet period - 2 year quiet period does not exist. Silly excuse for poor communication.
quiet period is best practice - Best practice is to hold annual meetings, hold quarterly conference calls, and communicate with investors and analysts.
platform technology - not yet approved for anything. Only tested on one indication. It's a nice dream, but still very much a dream.
The "exact" year of the next nwbo ASM has not been set.