I don't usually read the board with all of the yahoos, but read this last night from one of the bulls over there who supposedly regularly talks with Les and agree with several of his points.
"The risk that most concerns me is the one in re that the halt may never be lifted. There are a number of positive explanations i.e., that it is fully enrolled, that it is not but the pipeline is sufficient to complete enrollment, that there are sufficient enrollees now even though 348 have not been reached, that it has been halted due to efficacy and compassionate considerations, that they are focusing on a sub-group and waiting for events to mature, confoundment with cross over and evaluating OS, which are all rather positive and do not represent adverse risks. These all could be associated with faster approvals. The only risk I see here is that the trial continues to the end. So the risk is with disappointment with lack of faster approval and while this is not bad news, it has nothing to do with whether the halt is lifted or not as an adverse risk.
Rather, not lifting the halt as a possibility is ominous as it connotes the possibility that the trial may not be completed, that the trial may be yet enlarged or changed somehow implying yet another delay. This delay could be ominous in that it could be for a significant period of time. Devastation of the share price from such a revelation. Thus, the connotation is that temporary halt which has a risk connoting adverse could be bad or potentially so.
The issue I have is that this POTENTIAL at the very least is MATERIAL and should have been disclosed much earlier. Silence has devastated the share price and further bad news would compound it. Because of the delay in revealing what is going on (bad news or its potential), the pps will be further whacked. This could have been somewhat avoided thru earlier revelation and allowed shareholders to assess the situation before the precipitous devastation.
Secondly, Les and NWBO have made a number of statements that would lead investors to believe and reasonably so that there was no bad news or potentially bad news related to the temporary screening halt. To now state that the temporary halt as a risk may never be lifted now obviously calls for serious concern that something is wrong with the trial and/or it must be modified in some way or even redone all implying possibly significant delay. This is bad news. Or potential for it.
I hope it isn't. But if it is, NWBO has opened itself to serious liability. First in failure to disclose a material fact sooner and secondly misleading investors. Can NWBO defend? Yes, but that is not the point. Serious, and not ambulance chasing, suits will undoubtedly arise. Senti, trust me, if that happens, NWBO is cooked. I have known Les pretty well for a number of years. I had no problem telling him this. Credibility will be completely lost, and probably a change in management will be sought. Not good for the share price and NWBO will surely become a penny stock. The risk revelation to cover their behind is ominous and I assure you, it won't mitigate the significant force of suits against them if bad news plays out. Let me be blunt, Senti. It smells." - Drummword
