NorthWest Biotherapeutics Inc (NWBO)

[EMHLondonUK]

Hoffmann,

The Forbes article, regrettably, feels mostly on the mark. I have never believed in huge amounts of naked shorting of the stock. On the margin? Yes. There’s enough FtDs and other things that on the margin there is some unhelpful stuff going on.

The reality is, our Enterprise Value (EV) is staying roughly constant as shares dilute and the negative Shareholders Equity account builds. It’s the nature of the funding mechanism management has used to get this treatment into approval.

So what turns the share price around and drives EV higher? In my view:
1. Material evidence in the 10-Q that specials demand is increasing and driving meaningful revenue
2. The MAA approval for marketing in the uk
3. FDA and/or NICE approval to drive health insurer / health system payor coverage of the treatment in SoC.

Those are really it. Everything else (including SPORE results) will be “scientific noise” in terms of the share price for the most part.

Once the three milestones are met above, it’ll find a new level - especially with an uplist and institutional buyers.

Anyway, I think we are getting there… but it’s taken us a long long time.