NorthWest Biotherapeutics Inc (NWBO)

[Doktornolittle]

I don't know what they legally have to PR in terms of spending detail, and what they can stay quiet about. But if NWBO is lending Cognate the money for the expansion, so that NWBO has to carry all the risk, then they would probably prefer not to make that public. Certainly Woodford would have probed for that level of detail. Not sure he could legally get that info... but he must have had some explanation for what the amount of money was going to be spent on.

Such a lending arrangement would be consistent with the "win or go home" statement. I don't think such an arrangement would be unreasonable. Why should Cognate take the risk?

Rather, much or most of the money could be a loan to Cognate. The rest to Cognate could be for things like R&D / Design work, training, V&V, etc..