NorthWest Biotherapeutics Inc (NWBO)

[sentiment_stocks]

I'm not a lawyer (obviously, lol!) but I get your point, I think. Since the company disclosed that they were negotiating the contacts in the Q, it implies that they felt mentioning these negotiations were material. And it could perhaps be argued that it did not fall under the ordinary course of doing business.

Personally, though, I think the whole topic is arguable on both sides.

There are plenty of topics that are incredibly material; however, under most circumstances, it's the company's choice as to when they will publicly disclose them. So long as they aren't disclosing that information to some (without NDAs), and not others, I think it can remain that way.

Additionally the company hasn't typically made public what they pay individual consultants, or the particular agreements made with them (other than Cognate and Advent).

And maybe the company determined this negotiation to have been made (or perhaps it's still being made and so, they've not reported its finalization?) under the ordinary course of doing business.

I also don't recall any discussion of what the compensation agreements were with the SAB when they were originally hired, or since then (June 2016) until that one passage in the 2020 Q.