First, I think that NWBO would like to hold onto the Sawston property and it will continue to do little raises, as may be needed, up to top line announcement which should occur later this year. After all, Innes has said that they can raise funds at any time. If top line is not announced within this year, we are in for some trouble. By now, LP, et al, have a pretty good idea where they are with the trial and whether they have met the primary/secondary/tertiary/etc. endpoints. They know what data they need to present in accordance with the SAP they have developed and which will hopefully be acceptable to the FDA and other RAs. They may require another small raise to carry them through to top line assuming it is announced this year. Not the end of the world and they would like to keep Sawston at least for another rainy day. JMHO.
Second, if top line sucks, you can forget about a lot of dilution. The pps will be in the low single digits. No one but possibly LP and polly-anna friends may provide funds just to keep the lights on but most investors will call it a day. A lot of them will be disgruntled and I have no doubt that lawsuits will ensue. LP/LG will be busy fending off these challenges and focus will be split. For all practical purposes, NWBO as an investment is over. Approval is way off if it ever ensues. Only die-hard believers will be left to pick up the pieces but for all intents and purposes, the saga is over. Management has had serious credibility issues to put it kindly and with top line data that sucks, the science upon which most investors had been banking on, and certainly not on management, has also lost credibility. That is all she wrote.
I am reasonably confident that top line will not suck. I don't know if it will be stellar enough to propel the share price up to a dollar. However, I think the odds are that top line will be good enough to at least double the share price from current levels. In such a case, perhaps a significant number of longs, disappointed that top line was not a grand slam rocketing the share price, will sell out and move on placing downward pressure, again, on the share price. Hopefully, LP did not lie about "home-runs" and all this silence was worth it. JMHO
