NorthWest Biotherapeutics Inc (NWBO)

[biosectinvestor]

Equity can be purchased back on the open market. Royalties can never be returned. It’s not really a solution to dilution, it just is not obvious dilution. It is still reducing the pie owned by shareholders per share, but royalties never can be reduced. They are permanent. Shares can be bought back with a successful commercial business. And that leads to steady returns. Though early on, usually the best investment is directly into the business rather than to the secondary market.

They will finance at the best rates they can. If royalties offer that, then they can do it. But doubtful that any of us here can affect what terms are possible.