NorthWest Biotherapeutics Inc (NWBO)

[thermo]

I think the focus on upfront cash and other terms that tie up NW with a single partner is not the only way to think about it (and I have no special insight w.r.t. NW strategic discussions).

I've had companies that conduct trials in partnership with big pharma under cost sharing arrangements and, after positive results, are in a stronger position to negotiate better terms.

The key is the trial data. If you believe that combo trials will generate strong data, the licensing or acquisition terms take care of themselves.