NorthWest Biotherapeutics Inc (NWBO)

[hyperopia]

H2R, no, they weren’t required to hire a CFO due to the settlement, but the way I see it, Northwest Bio is a clinical stage company that is preparing to become a commercial stage company. A clinical stage company can be run with a handful of people, and do without a CFO, but a multi-billion-dollar biotech company can not. Linda and Les are hiring key personnel, and building out their management team now, to get them up to speed, and will delegate more and more going forward. The company is burning about $1M a month, so $20K for a CFO salary is not going to crush them, and she will be doing far more than just working with her former co-workers at BDO to remediate the financial weakness, so it is likely money well spent. (especially if it gets the SEC off their back, and gives Linda a little piece of mind, and the time to attend to more important matters)

I posted it previously, but here’s the SEC settlement: https://www.sec.gov/litigation/admin/2019/34-87281.pdf