NorthWest Biotherapeutics Inc (NWBO)

[Doc logic]

Galzus Research,

Apart from what others have shared in response to what was omitted in your report you did not discuss the value of Direct and L as tissue agnostic. DCs are themselves by nature tissue agnostic and the process of DC maturation really is the product not just the end product specific vaccine most would point to.
The platform nature of this tech has value which NWBO investors have already recognized which others will need to learn about. Your report does not delve into this but stays at the surface of what can be most easily seen and evaluated. Even this does not recognize the soon to be recognized ability to ramp up with Flaskworks or the improvements made to Direct so that the next trial with it will create overwhelming demand just to be part of because of attention given to it from recognition of L as a breakthrough treatment.
Another lapse was with NHS set aside funding from last year’s list not being mentioned. This is a strong indication that approval of L is expected and that funds have been set aside for patient access until NICE reimbursement is finalized. While a valid analysis can include a conservative time frame for when finalization of an agreement with NICE will occur since no report of evidence submission has been made by NWBO, the pressure to get this resolved is mounting. This can be clearly observed in the very direct questions being set before MHRA today which will require them to address this issue and the timing of expected approval even if essentially brushed over. Bottom line is that approval is expected and with it a substantial price increase which your analysis fails to appropriately factor in. Best wishes.