NorthWest Biotherapeutics Inc (NWBO)

[sentiment_stocks]

Ready, as DoGood has suggested and the PR stated, the company didn't feel that the Freeh group was "conflict free". Given the fiasco with Ondra, who was not only recommended by Woodford, but was actually pushed by Woodford in exchange for the $30mm, I can see the company wanting to vet the next part of the provision - that any people being brought in to investigate are indeed truly "conflict free".

Now the company is comfortable they've found two such persons who are both "conflict-free" and experienced. The two non-executive directors Jasinowski and Farmer may not be fully "conflict-free", as they would probably side more favorably with the company itself, but they are not part of the management team, and they are "conflict-free" in that they have no connections to competitors.

There is currently not a member on the board that might be considered fully "conflict-free", but the company surely wants to act quickly in order to put these allegations from P5 behind them. And per the PR, they are still looking for another BOD member that will better suit the board. Since the BOD will appoint him, the BOD gets to pick him. They've stated the qualifications they are seeking, and I'd bet in rapid time, they'll soon find that person.

Given all of this, it seems Woodford has been given roughly what he wants. He has two conflict-free people (meaning, they aren't involved with any competitors, and haven't previously worked for the company; and he has two non executive directors. They certainly are conflict-free in terms of they have no relationships with any competitors.

"We believe that best practices for companies addressing allegations of this nature require the Board to convene a special committee composed only of conflict-free non-executive directors and engaging external counsel who have not previously provided legal services to the Company."

I know you are still long, and I know you feel very uncomfortable in that position, and I understand why you are bringing your concerns to the board. I hope soon your worries are proved to be unfounded. And I hope the share price soon rises and you are able to either exit the share price at a nice profit or keep your position.