In any event, the so-called "war chest" created by the Sawston sale was supposed to carry NWBO through to top line and unblinding. It was expected that there would not be any more dilutive raisings at least until then. Like so many timelines they have expressed or alluded to over the years, this was also wrong. NWBO management has an unenviable track record of nearly perfect misses that have not even been close.
And we had to find out about this through a prospectus and not through a courteous PR. My comments on IR still stand. Still a zero and waste of scarce resources. The only change is in the initials but IR is still overseen by LG, make no mistake about that.
As I said, probably NWBO has yet to submit the SAP to the four RAs. The pacing item will be RA reaction to the SAP which may involve time consuming back and forth. I also have a feeling that even with several hundred queries remaining, the data scrub is not yet completed and will also need to be done for continuing data collection until hard data lock. I believe that unblinding/top line will not happen until 2020 and that granular findings and analysis won't take place until ASCO 2020.
I believe that in the interim to unblinding/top line, there will be no substantive updates to support the share price. It will continue to bleed just as I predicted. Shortly before ASCO, we were at $0.34 and now we are below $0.23 barely a month and a half after the ASCO debacle. With continued fears of dilutive raises and silence wrt to unblinding/top line, the share price has nowhere but to go down. The shorts need not expend much energy in driving the pps down, NWBO is doing that very well by itself, thank you.
If this continues, I have little doubt that new lows will be reached. And, unfortunately, from a new low launching pad, the share price won't even reach a dollar even if top line is very positive. While I think long tail/milestones/subgroup results will be positive, there will be an overhang if the primary/secondary endpoints are mixed/unmet even though they should not matter as much as the long-tail, etc. The naysayers will focus on the former which may blunt any upward momentum.
The current raise was a hard hit to the solar plexus. Ouch. JMHO.
