NorthWest Biotherapeutics Inc (NWBO)

[hyperopia]

Hi H2R, I’ve thought about that as well, and agree with you in part, but don’t necessarily think it signaled that the SAP process was complete. (although it could be) In the back of my mind has been the thought that the last time Northwest Bio needed regulatory approval from the four regulators for their trial enhancements in 2014, the process of submissions and reviews took 9 months, so I’m prepared for that possibility. (not that I think it will take that long) All of the hires last year point to preparation for the next stage of growth. As the company moves towards that, Linda and Les have less time to do many of the tasks they’ve previously done, so there’s more of a need now than in years past.

I think the timing of the CFO hire may have had more to do with the SEC settlement in October, and a desire to get their financial house in order going forward, and put the SEC investigation in the rear view mirror. The need for a full-time CFO, who will ensure SOX compliance became pressing. Within 60 days of the settlement, (October 10th) Northwest Bio was required to hire a consultant who hasn’t provided services or had affiliations with the company for the two prior years, to review NW Bio’s ICFR and provide recommendations for remediation, so they were no longer able to consult with Jean Davis. It seems that Linda was impressed with Ms. Davis’s SOX expertise and financial knowledge, multiple certifications, and felt comfortable working with her over the past couple of years, and was confident Ms. Davis would fill the need at CFO.