NorthWest Biotherapeutics Inc (NWBO)

[Chiugray]

XMaster, Given the tentative manipulated low stock price, $3M is probably the smallest equity round size NWBO could do when bringing on a new money institutional fund. It is smart financial strategy to start lining up supportive long term financial investors, especially now and if they have researchers and analysts on their team. $3M corresponds roughly to about a month's cash burn for operations. Maybe that is in anticipation for June being the pivotal DCVax approval month. When they go on to negotiating a next financing, post approval, it is better to already have existing investors that are institutions.