NorthWest Biotherapeutics Inc (NWBO)

[Dr Bala]

Umibe,

Again, thanks for a great post. I would like to comment briefly without quoting what your post says. That is because in order to clearly present what you are saying, I need to repeat your whole quote, which I don't want to do.

1. I need to wait for the published results on mPFS. It doesn’t make sense to me to have a vast improvement in mOS without a corresponding improvement in mPFS. If the GBM dynamics under DCVax-L is according to the model you suggested, then mOS should be the primary and possibly the only endpoint, imo. The team should have a dynamicist who should model the progression under DCVax-L administration. It is not essential, but at least that would be interesting to me.

2. I agree that the topline needs to be presented in a judicious manner. I believe that there are shareholders who are not going to benefit a great deal financially if the share price doesn’t increase significantly beyond the $1 to $2 range.