NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

Okay, double bonus this year.

Invited to Thanksgiving dinner by my wife’s in laws, and didn’t have to reman in the basement. Even got a big boy chair at the table.

But the inevitable patronizing question was asked: “How’s that penny stock of yours?” Smiling, I responded with the good news about the JAMA article. But when I explained the reason for the modest impact on the stock price, the non verbal reaction from the family was as if to say “What demons possessed us to ever let him out of the basement?” But I totally get it — it’s been six years, and explanations and excuses just don’t cut it over turkey and stuffing.

And truth be told, it’s even difficult for anyone to predict where the stock price will be subsequent to a partnership and subsequent listing. The good news of course is significant appreciation of the stock price doesn’t require every milestone to be met right away. And just like any listed stock, valuations are fluid as the market will price in existing uncertainty and then realization for each of the milestones for manufacturing and approvals that occur over time…it’s easy to get on and off the bus at each of those stops based on a fair valuation. It will no longer feel like calling heads or tails while the coin is in mid air.