NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

Just so others who are new understand, Flashworks was a tiny asset owned by Corning, which has been going through some restructuring and cost cutting. Not sure there was much effort or thought put into this deal from the Corning side; the purchase price was only $4.6 million.

Corning may have just wanted to unload the expense of carrying this company and associated salaries and other costs. Given the small purchase price, the deal team from Corning may have been willing to structure a portion of the payment in shares, just as a kicker for a possible upside.

A NDA would have been customary, and would have been much more important to NWBO than Corning.

In short, Flashworks was more of a cost center to Corning, while NWBO viewed this little enterprise as a strategic asset. One man’s garbage is another man’s gold.