NorthWest Biotherapeutics Inc (NWBO)

[KRISGO]

Hi Danish Dude, based on recent filings, Advent generated $26M in revenue and $10M in income. That means Advent is making money without DCVAX-L on NWBO's building facility. If DCVAX gets approved, they'll make even more. How does this benefit NWBO shareholders?

1. Claim: “NWBO does not own the 1A (original) and 1B buildout. That property is under long-term sublease to Advent, and all NWBO gets from it is $145K/year.”

Refutation:
✔ NWBO Retains Control Through Lease & Buildout Ownership
• NWBO sold the Sawston property in 2019 but retained a 20-year lease on 87,000 sq. ft. of the facility, ensuring its long-term control over manufacturing infrastructure (SEC Filings, NWBO Investor Statements).
• The 1A and 1B buildout includes cleanrooms, cryostorage, and Flaskworks automation that NWBO funded and directed for DCVax-L manufacturing.
• Advent does not own this infrastructure—it operates as a contract service provider under NWBO’s control.

✔ Sublease ? Ownership
• NWBO subleased parts of its leased space to Advent, but this does not mean Advent owns or controls the facility.
• The buildout is NWBO’s capital investment and remains an NWBO asset regardless of Advent’s operational role.

✔ Financial Misrepresentation
• The $145K/year sublease revenue is a misleading focal point because NWBO benefits primarily from DCVax-L production at Sawston, not from lease income.
• The true value lies in the commercial manufacturing capabilities of DCVax-L, which Advent operates exclusively for NWBO’s benefit.