NorthWest Biotherapeutics Inc (NWBO)

[exwannabe]

jack2479, I fully agree with your question, but I think the exact words allow LP to spin out of a real answer. It is normal to use contract manufacturers in this business, so the question as asked by you allows that as an answer.

I would try something like:

"Could you describe your full business arrangement with Advent? Are they setting up a production facility in Sawston that NWBO owns, are simply subleasing Sawston for their own use as a CDMO (and what are the lease terms if so)? Why is NWBO spending precious cash to set up yet another manufacturer when Cognate could handle this function?"

If I had her face to face I would also ask why this very important related party arrangement is not fully disclosed. Alas asking as part of an attempt to garner info would likely cause her to clam up. Maybe Flipper can add that lack of disclosure to his SEC letter.