I basically agree with you. If at all possible, get to the point you want to get to before bringing in a partner. However there is no final endpoint given there will be more trials starting and more funds needed. If the cash flow from your initial desired point is sufficient to do all you need to do you can remain independent, assuming you want to do so. NWBO has not been building like they want to be a future pharma. So, I am seeing them as someone who will develop to a good selling point and then let a deeper pocketed partner or acquirer take the reigns. Clinical work alone can take sizable teams. Everything can be done with mostly outsourcing but typically every company determines their competitive beachhead to use in house expertise for because outsourcing takes considerably more than most people tend to think and outsourcing most functions can be prohibitively expensive. It is all a strategizing and balancing act based on volumes, science, cost structures,... All in all I like the thought of NWBO getting at least to a positive P3 outcome on L then working with a partner for commercialization of L and clinicals on Direct. Every product has its crossing point where it pays for itself post approval, so, positive cash flow for NWBO is still a while away. I am thinking a positive P3 L result then a partnership and on to Direct development.
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