NorthWest Biotherapeutics Inc (NWBO)

[skitahoe]

Mav,

Whether it's a buyout, or a partnership, which I'd prefer, whoever is interested should already know about the trial results in depth. In fact, I would suspect that they would have had signed confidentiality agreements with NWBO essentially since data lock occurred and they've been scrutinizing them ever since. Many believe that Merck is the one, but actually their could be many.

In reality, an agreement may already be in place, but it would be triggered by something, it could be a certain share price being achieved, or it could be a specific event, like one or more regulatory approvals. The point is that everything could be in place, but nothing would ever be said until the triggering event occurred. Meanwhile, if the company needed certain things to occur before such an announcement could be made, if they required shareholder concurrence, such as an increase in the authorized shares, that too would have to happen previously. If a shareholder vote was required for the acquisition or partnership, that would have to occur once it was announced.

Many years ago investors knew that IMGN had a confidentiality agreement in anticipation of a partner for a drug in clinical development, but when trial product was lost in a freezer failure it was delayed for over a year while new product was made. No one knew with certainty who the partner was, but when it was announced, it was who the majority believed from over a year previously. The drug was abandoned a few years later when an improved version was put into the clinic, then it too was abandoned.

I believe that the confidentiality agreement was announced initially, but during a quiet period I don't know that even that would be acknowledged, and also that was in a Nasdaq company where more may have to be announced. Confidentially agreements that never come to fruition don't get announced as terminated, when nothing happens for years investors make assumptions that may, or may not be true. In biotech terms months, even years for things happening are often referred to as "SOON".

Gary