Out of everything in the letter we decide to focus on the word punt??!! No offense to anyone here, but are we grasping so hard for anything positive that we overlook the more striking and less ambiguous parts of the letter that are very telling of NW's thoughts regarding the current situation? I'll provide my own analysis and welcome everyone to share their opinions and interpretation.
"Woodford said it was too soon to say whether the £120million bet on Northwest Biotherapeutics had gone badly." He's saying maybe, maybe not
"With some early-stage investments not everything will go well. It is too early to pass judgment on Northwest, but we have hit a bump in the road that needs to be addressed."
NW is uncertain if there is a serious problem, but he is concerned enough to demand for an ex FBI investigator's inclusion on the bod. He is actually in the same position as many of us. Invested for the potential of the science and the early clinical results, but has some concerns about the management and some of the "allegations".
And let's not forget about his prior comment regarding the timing of when he became aware of these issues and the implications this may have on future financing until full resolution is accomplished.
Look, I'm not trying to scare anyone or spread fud. I'm not someone without any interest that is "looking out for you". I'm in the same boat. Trying to figure this out. Don't know if I should sell or stay. There are strong points on either side of the argument. But we need to look at this for what it really is.
It seems highly unlikely to me that there is a coordinated effort between NW and LP. I could be wrong, but the evidence just doesn't point me in that direction. No offense Senti, I hope you won't take it personally. The reality is that our biggest backer is concerned. Should we be? I'm still long, but I am very concerned as well. In my mind the risk factor has greatly increased in recent weeks.
My biggest questions are these. What if NW finds something wrong? Will that completely erode his confidence in the current management team? Will he continue to pump more money in? Does he have the power/ownership to force any necessary changes? If not, then what happens? Does he exit? Sorry this got to be so long.
