NorthWest Biotherapeutics Inc (NWBO)

[HappyLibrarian]

Trial failure is not reflected in the current price.

The market is pricing this as a highly speculative, binary event that is not necessarily imminent but could be. Given that the market for NWBO is small and consists mainly of retail investors intimately familiar with the firm, this pricing is pretty accurate.

There is virtually no institutional participation here.

Despite the braggadocio, investors who have been involved with NWBO and comprise most of the market know all too well there is the risk that NWBO will always find a new way to delay and there is the risk that the data is muddy and that last is supported by NWBO’s abrupt decision to tack a journal article on the process of unveiling TLD.

For this reason, those investors are willing to buy more on speculation but are not willing to pay a premium on such a risky venture especially since their money may get be tied up for longer than they can believe possible, as has happened before.