NorthWest Biotherapeutics Inc (NWBO)

[JerryCampbell]

Cognate settlement - a few thoughts

1) Cognate clearly had a valid legal case. NWBO is paying them $2m upfront, 12m shares, plus the possibility of more down the road.

It appears to read that Cognate can get $10m for any approval, including non-US. Interesting

2) For the roughly half year of the dispute, NWBO had zero manufacturing capacity in the US. Think about what that means. Think about how many things speculated on ihub over the last 6 months were not even remotely possible without MSA.

3) I think that getting a new MSA in place is the most important part of the PR. Without that, nothing moves forward.