NorthWest Biotherapeutics Inc (NWBO)

[gnawkz]

Yes, those are all great points about what Cognate has done for NWBO. Which points out something else. ARGS must pay in cash to their partner, even though payments can be deferred until the completion of the trial. NWBO was VERY fortunate to have Cognate as a partner when cash was short, but shares were plentiful.

I am very supportive of this arrangement, as it can clearly be seen.

To clarify, I am not providing an opinion on ARGS. I do not know the company well enough to even begin to comment on what my analysis means for them. This was simply to highlight that ARGS and NWBO are very different and cannot be compared, even though Austin stated they are a great comparison.

In addition, it also means that it is futile to compare the "Accumulated Deficit" number on the balance sheet between NWBO and ARGS. That difference can easily be explained away with the fact that NWBO has a full-fledged production, international, cGMP facility that can manufacture NWBO's treatments in commercial volumes. ARGS is just STARTING to build theirs out.