NorthWest Biotherapeutics Inc (NWBO)

[froggmister]

I think your risk/reward thesis has some merit but is skewed due to some glaring omissions on the reward side. Without changing this from a top line article to deep dive, here are the most glaring omissions that impact the investment thesis:

1. The revisions Ex just outlined, as well as the failure to mention that the efficacy thesis was supported in one of the top journals in the country, JAMA, and authored by and co-signed by some the top neuro-oncologists in the world

2. Corollary to Ex's response: the results in r-GBM were omitted despite the current SOC for that indication is palliative care

3. You mention that good treatments for GBM is an unmet need but do not mention that in addition to the evidence of efficacy DCVax-L's benign side effect profile is rare and significant

4. You fail to mention that there are myriad additional data that support the long tail shown in the Ph3 trial, as well as myriad data suggesting significant opportunity when combined with other agents

5. The potential, if approved, to move towards treating other solid tumors and the potential of that development