NorthWest Biotherapeutics Inc (NWBO)

[kabunushi]

I don't know why you would have expected any gain today at all. The Cognate deal was great, but hardly enough to move the needle for anybody who wasn't already long. It's one of those things that makes longs stronger because we know that it's an important step forward to get balance sheet improvement and even more to get the next Direct trial moving forward, but it doesn't convince very many people who are not already long of anything, and hence won't move the market.

We've been stuck at .34 and it seems to me hard to imagine that anything short of topline data can push us through that barrier. We might get some more positive news, but the general market needs to see a giant shot of credibility, a real shock that NWBO is alive after all. Short of that, there will hopefully be enough buying interest to keep us from falling off the plateau we're on, but the topline data reveal overwhelms everything else in importance. Well, a deal such as sale of marketing rights in Japan could give us a small boost but at this point I don't think anybody would move without seeing the topline data first, so that's a super longshot.