NorthWest Biotherapeutics Inc (NWBO)

[Dan88]

Could it be really a buyout which has been done but yet to be announced? In the past many investors have provided that the average age of the management, Duffy's mysterious short employment with the company, Cognate's management buyout, forced preferred shares conversion, etc, etc, as factors contributing to the speculation of a buyout deal with Merck, or other major pharmaceutical companies.

Now perhaps one more provision for the buyout fuel to ignite/materialize:

I compare Risk Factor section of this year's 10k and last year's 10k under Risks Related to our Common Stock and find the following (within quotation marks) exists in last year's 10k but missing in this year's 10k.

It's quite interesting in last year's 10k discussing Linda's material influence: This influence could have the effect of delaying, deferring or preventing a change in control, or impeding a merger or consolidation, takeover or other business combination or action that could be favorable to investors (see below), as if this influence no longer exists, despite Linda still being a material significant shareholder?

"Linda Powers and Cognate BioServices, each have beneficial ownership of material amounts of our securities, and this concentration of ownership may have a negative effect on the Company and/or the market price of our common stock.
As of December 31, 2019, Linda Powers, our Chief Executive Officer and Chairperson of the Board of Directors, beneficially owned a material percentage of our outstanding securities. This concentration of ownership could involve conflicts of interest, and may adversely affect the trading price of our common stock because investors may perceive disadvantages in owning stock of companies with stockholders who could have conflicts of interest. Ms. Powers’ holdings of our securities could enable her to exert some material influence upon matters requiring approval by our stockholders, including the election and removal of directors and any proposed merger, consolidation or sale of all or substantially all of our assets, as well as over our business plans, strategies or operations. This influence could have the effect of delaying, deferring or preventing a change in control, or impeding a merger or consolidation, takeover or other business combination or action that could be favorable to investors. Cognate BioServices also beneficially owned and/or had a contractual claim to receive a material percentage of our outstanding securities as of December 31, 2019. Since the management buyout of Cognate BioServices in February 2018, Cognate BioServices is no longer a related party; however, Cognate’s continued beneficial ownership of a material percentage of our outstanding securities could adversely affect the Company and/or our stock, for example if perceived adversely by investors, and could enable Cognate to exert influence over matters requiring approval by our stockholders, as well as over our business plans, strategies or operations."

Last year's 10k (page 17):

https://sec.report/Document/0001104659-20-034145/#a_002

This year's 10k (the item is missing):

https://sec.report/Document/0001104659-21-044832/#ITEM1A