NorthWest Biotherapeutics Inc (NWBO)

[CrashOverride]

For the last quarter in fact General and Administrative costs are equal to Research and Development costs. Both were 6.8M for the quarter ending March 31st 2023. General and Administrative costs likely encompass efforts to get DCVax approved.

The loans which we took out over the past few years did not involve dilution. I don't expect the firm will rely upon dilution to fund their expenses. Yet the constant refrain from "concerned longs" always involves dilution. If the firm wanted to keep issuing more shares then their latest shelf offering would have been much larger.