NorthWest Biotherapeutics Inc (NWBO)

[skitahoe]

We're in agreement, but I believe the FDA knows the difference between criticism coming from investors, and criticism directly from the company. In the case of DNDN, I'm not certain that the FDA didn't think the company was behind the efforts of the investors to rattle the cage.

I don't believe the company is in any way encouraging investors to be critical of the FDA or other regulators, I believe they have good repore with all the regulators. Personally I've always thought the FDA could be more dynamic and I've been open about saying it. I have never advocated trying to go over their heads to make things happen.

When we look at 2022 it certainly failed to meet our expectations. My survey that had 80+ investors by the time it was finished had an average of about $25 for the year end price, clearly we fell far short. On the other hand 2022 was one of the worst market years in several years. Year end we were up roughly 12% on the year, I'd guess that almost every investor I know in the market would have been thrilled by 12% gains in the last year.

Let's hope that 2023 lives up to the expectations we had for 2022, or even comes close to it.

Happiest and Healthiest of New Year's,

Gary