Thursday, November 04, 2021 2:32:03 PM
If NWBO's manufacturing agreements with Cognate were still in place when CRL acquired them, then yes, those contracts went with the business or were otherwise assumed.
However, the absence of the Cognate manufacturing agreements in the exhibit index of NWBO's last Form 10-K, the 2020 risk factor disclosure saying they would need to enter into new manufacturing agreements with Cognate and the Company's statement in the 2021 10-K that it intends to manufacture DCVAX-L at Sawston for the "U.K. and other regions," along with the total absence of any reference to Cognate/CRL manufacturing DCVAX-L going forward (which was a major departure from the last 5 years (at least) of 10-K disclosures) makes me confident that those agreements have been terminated.
I've already addressed the Cognate/CRL manufacturing agreements in other posts. If the contracts still exist, then they should have been included in the 10-K index, unless NWBO no longer considers them material. I don't know how they could no longer be considered material, but I also don't know how they could say what they said in the last 10-K risk factors, or how they have not updated their risk factors (as required when risks change either for the better or the worse) through the last 10-Q, knowing what they know about the trial results. So, who knows what is going on with the manufacturing agreements. Their disclosures are so terrible, vague and, in my opinion, misleading (intentionally or unintentionally), that it is impossible to decipher what is actually going on.
However, the absence of the Cognate manufacturing agreements in the exhibit index of NWBO's last Form 10-K, the 2020 risk factor disclosure saying they would need to enter into new manufacturing agreements with Cognate and the Company's statement in the 2021 10-K that it intends to manufacture DCVAX-L at Sawston for the "U.K. and other regions," along with the total absence of any reference to Cognate/CRL manufacturing DCVAX-L going forward (which was a major departure from the last 5 years (at least) of 10-K disclosures) makes me confident that those agreements have been terminated.
I've already addressed the Cognate/CRL manufacturing agreements in other posts. If the contracts still exist, then they should have been included in the 10-K index, unless NWBO no longer considers them material. I don't know how they could no longer be considered material, but I also don't know how they could say what they said in the last 10-K risk factors, or how they have not updated their risk factors (as required when risks change either for the better or the worse) through the last 10-Q, knowing what they know about the trial results. So, who knows what is going on with the manufacturing agreements. Their disclosures are so terrible, vague and, in my opinion, misleading (intentionally or unintentionally), that it is impossible to decipher what is actually going on.
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