NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

Res, thank you for the the thoughtful response. I’ll just address the commercial issues and not get into the regulatory delays and snafus.

One factor to consider with management is when Linda and Les took over the company, it was already nearing completion of phase II of the trial and moving into phase III. That process was steered and managed going forward by Boynton, Bosch and others on the scientific team — somehow they always get the short end of the stick, after all they were the founders!

And thankfully Linda and the folks at Toucan didn’t get in their way.

However, placing aside all the business, governance and reputational issues, to go along with excessive use of financial resources during that time, the company in and around the end of the trial and DL entered into another critical period.

Going forward there is now more emphasis on commercial matters, such as re-listing, signing partnerships, raising non dilutive capital, bringing in stable and sustained institutional investment, all of which they had previously failed to deliver.

This is the home stretch over the next few months to two years. And given Linda and Les’s track record, it’s just an obvious commercial matter: Everybody would be better served with a new management team. Maybe that’s already in the works? I hope so.

Sure, a lot of this is water under the bridge; but there’s still more coming down stream.