NorthWest Biotherapeutics Inc (NWBO)

[Adam_Feuerstein]

There is no evidence that NWBO is a "victim" of naked shorting. For instance, the stock is not on the Reg SHO list. I don't believe it's ever been on the Reg SHO list. Can you point to any evidence of naked shorting in NWBO?

The short interest in NWBO has been moderately high at times, but to my knowledge, it's not been a heavily shorted stock the way, MNKD, has been, for instance.

In fact, fund managers have told me that shorting NWBO is usually expensive and difficult. It's relatively hard to locate NWBO shares to short. And when you can find a borrow, the premium is expensive, they tell me. These are investors who've wanted to short NWBO but don't because it's not worth the effort and cost.

One smart thing Linda did over the past 12-18 months was consolidate much of the NWBO float to make it more difficult to short the stock. Ownership of the stock is concentrated heavily between herself/Cognate and Neil Woodford.

Instead of focusing on the short interest, you should be more concerned with the lack of institutional ownership in NWBO. There are no actively managed institutional funds invested in NWBO outside of Neil Woodford. The rest of the stock is owned by Linda/Cognate and index funds.

That's the most damning evidence against NWBO. If the company's technology was credible, there'd be a long list of investors owning the stock. Instead, there's just Neil Woodford, and even he's now come to the realization that NWBO was a mistake.