NorthWest Biotherapeutics Inc (NWBO)

[Pyrrhonian]

This:

Alonso-Caplen’s presentation was titled “Case Study: How to Succeed in Vaccine Externalization and Technology Transfer.” He described how outsourcing allows nearly any biopharmaceutical company to conduct vaccine clinical trials quickly and without having to deal with the staggering capital expenditures associated with building a manufacturing facility.

Sawston for one. But also all of that "manufacturing expansion" cost going from NWBO to Cognate (a NON subsidiary), which is exactly what the above advises they not do. And especially if they don't own it!

$170mm plus in costs went from NWBO to Cognate, and $100mm of that in cold hard cash. Meanwhile, Cognate DOUBLED in size for just $9mm??

Hm..