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H2R

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Alias Born 07/17/2014

H2R

Re: Flexroy post# 396175

Tuesday, 08/17/2021 11:20:01 AM

Tuesday, August 17, 2021 11:20:01 AM

Post# of 699415
A view inside the company's timeline

Thanks Flexroy, that's more of a flashing neon light than a breadcrumb.

On June 30, 2021, the Company entered into multiple four-month note agreements (the “Notes”) with various individual lenders (the “Holders”) with an aggregate principal amount of $1.9 million. The Notes contain a conditional piggy-back right to independently purchase shares from the Company, which provides a right for the Holders, contingent on the release of clinical trial data and a next private placement offering (“Next Offering”) after this release, to (a) purchase shares from the Company within seven days following such Next Offering at a 12% discount from the share price of the Next Offering for a variable number of shares equal to an amount up to 50% of the principal amount of the loan and (b) exchange some or all of the outstanding loan amount for a variable number of shares, within seven days after the Next Offering at a 12% discount, resulting in a reduced cash amount repayable under the loan agreement.


https://www.sec.gov/ix?doc=/Archives/edgar/data/0001072379/000110465921106389/nwbo-20210630x10q.htm

The way the deal is structured makes it clear how the company is thinking about their timeline.

This also lines up with the manufacturing planning:

The next step will be an on-site inspection of the facility by MHRA. Following the inspection, a report of the inspection results and any findings needing any corrective action will be issued by MHRA. Following completion of any actions, the Company is hopeful that an initial license will be issued and production of GMP DCVax-L products in the Sawston facility may begin by around the end of Q3.


https://nwbio.com/uk-manufacturing-facility-phase-iii-trial-updates-from-northwest-biotherapeutics-otcqb-nwbo/

The company's expectations are quite clear. They may not meet those internal expectations, but we can see where they are headed.

Best of luck to Patients, NWBO, and Longs!
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