NorthWest Biotherapeutics Inc (NWBO)

[skitahoe]

I agree with you, I've often said that I expect a partnership, or buyout, any time after the trial has been unblinded. I hope it's a partnership as I believe that to get a buyout offer for what the company may truly be worth, you need to know more about DCVax-Direct.

A partnership could be for one, both, or all products under development, but it would be for a limited amount of the company. The partner might gain the right of first refusal to meet, or beat any buyout offer, but it wouldn't guarantee they'd buy the company at some time in the future. Regardless of how much money a partner brought in, I'd expect them to pay for all trial costs of any product they had an interest in.

I don't know if confidentiality agreements currently exist with any of the BP's, but if they do, it would entitle them to look at the data immediately on unblinding, some time before even top line data is released. I believe in other companies such agreements have been created well in advance of either a partnership or a buyout.

It's currently 3 months since our last quarterly, so a new one could be announced any day. Hopefully there will be some guidance on SNO and other things that should be upcoming in the quarterly, I suspect it will happen sometime in the next week or so.

Gary