NorthWest Biotherapeutics Inc (NWBO)

[Slave1]

To further clarify:

Think of the MHRA as a university and NWBO as a student who’s just finished a long, difficult degree program. The student has completed every class, turned in the final paper, and sat for the last exam. Now, everything is in the university’s hands for final review. That review doesn’t happen in public. There’s no announcement. It happens quietly, behind the scenes.

Eventually, the university decides the student has passed. They’ve met every requirement. The university issues an internal approval. But that doesn’t mean the diploma is ready to hand out. Before anything goes public, the school still needs to prepare the final documents, format the diploma, verify the transcript, double-check the spelling of the student’s name, make sure the degree title is accurate. Only once everything is correct does the university make it official.

That’s where labeling comes in. The regulatory version of formatting the diploma. It’s a final internal step that happens after approval but before public announcement.

Now here’s where NICE comes into the picture. NICE is like the registrar’s office. They don’t approve the degree. They don’t decide if the student passed. They’re just waiting for the final paperwork. When they say, “We haven’t received anything yet, the company isn’t ready,” that’s like the registrar saying, “The student hasn’t handed us the diploma packet yet.” That tells you the university already handed things off. The student is now finalizing the last details.

That’s what the NICE letter shows. MHRA’s role is likely complete. The ball is with NWBO. And that means we’re not in limbo, we’re in the final steps. Quiet isn’t failure. It’s process. It means the degree’s been earned, and now it’s just being printed.