Can’t explain why Jerry J. entered into a purchase agreement for preferred shares, especially given the company clearly is in the process of material events. Perhaps there are some fine legal distinctions between what constitutes material and non-material, or material matters not yet brought before a vote, and don’t involve him; otherwise mattered kept to a much tighter circle. And if history is any guide, the company can be a bit lax about this kind of thing involving insider transactions.
Putting that aside, I stick to my original thinking that the company has to be headed toward a series of accretive events, whether it’s a regulatory approval(s), or a listing and partnership.
In my opinion, a listing and partnership have to occur within a short period, either by year end or soon thereafter. The reason is the company has no logical reason not to move forward with these events, which are both substantially accretive to shareholders and solve the liquidity and dilution problems for the company, once and for all.
A partnership has obviously been in the works for a while. I wouldn’t be surprised if initial conversations between NWBO and BP four years ago — in fact, I was at a shareholder meeting four years ago when Les mentioned that he was getting calls from some “interesting” parties. I took him to mean from BP companies.
The JAMA article is published, and some of the combo results are now public. The bear and conservative-long arguments for no near-term deal is that manufacturing and the RA approvals are not in place, so don’t expect anything meaningful until 2023. I would make a few counters to those arguments.
First, those manufacturing and approval milestones can be easily built into any partnership arrangement, and likely will have to be --- nobody is waiting 9 to 18 months for all RA approvals FDA, EMU, and Canada (that’s crazy talk to believe the company will wait that long).
Second, the benefit of striking a deal now and listing on a major exchange is in everyone’s interest. All parties will then be in a position to move forward with tangible agreements and funding — preliminary agreements also have expiration dates that encourages urgency. NWBO will then then be able to fund its Direct pipeline. And everyone benefits from simply having a valuable public company with a growing pipeline of indications, and a higher stock price and ability to raise efficient capital to occur in lockstep.
The logic of having — at the very least — an announcement of a deal and a listing is too compelling versus remaining stuck on a treadmill, running in place, waiting for other events to unfold…time is money.
Anybody on this message board with a business background knows that business transactions, regardless of the scope, can take time to paper and sign. So that variable should be taken into consideration. And I can understand the parties waiting a few extra weeks if something is certain to be completed, but anything longer is in nobody’s best interest.
