NorthWest Biotherapeutics Inc (NWBO)

[longfellow95]

PIM is part of the EAM scheme. It didn't cost them much but they didn't pursue it. They never got to the Scientific Opinion stage.
Treatments under EAMs are not reimbursable anyway. So that was always a dead end.

HE. They treated 9 patients. Another dead end. Protracted and expensive negotiations with the German insurance companies. Certainly a net expenditure. They allowed the annual re-registration to lapse.

RTT. Another dead end. Enough said.

UK Specials. Very different. You need a UK Specials registered manufacturer or supplier / importer. They have that. Currently CCGTT. Will be Sawston. And a bona fide physician who makes bona fide referrals. They have that (one, maybe several). Every patient treated under UK Specials provides useful revenue. On a £250k treatment, their net income is probably £50-£70k. That would be with averaging a per capita payment to Advent (though they pay Advent whether they use them or not).

At five patients a month that would be about £3.5m a year. That is probably the max until Sawston is up and running. At a guess, Sawston could triple capacity. Then it would just be a case of whether they get enough referrals. But £10m annual net revenue (profit) is probably achievable indefinitely (until superseded by UK regular approval).
Or it was until Covid was introduced. That has totally kyboshed things in the last few months, but hopefully not for too much longer.

In summary, PIM and HE had some PR value at the time, but that has long gone.

RTT just a plain nope.

UK Specials completely different and very worthwhile.