NorthWest Biotherapeutics Inc (NWBO)

[beartrap12]

Dr. Andrew, thanks again for your take on my Dr. Duffy /Winterfell timeline and how it meshes exactly with everything happening with DCVax-L , Advent, and Flaskworks' EDEN. I was looking for any holes in my theory and so far, we haven't found one.
My theory: When Dr. Duffy was hired away from Merck in September, 2019, was he actually setting up a collaboration between Merck and NWBO that would result in the construction by Merck of its WP50 vaccine building (Project Winterfell)? Read Dr. Andrew's last long post on Winterfell to learn how this building potentially would by used by Merck to aid NWBO in the distribution of DCVax-L and adjuvants in North America.
As longs know, Dr. Duffy left and went back to Merck a year late and when no deal materialized with NWBO, well, we were disappointed.
But maybe some type of collaboration did happen. Dr. Andrew's timeline on the design and construction of WP50 begins immediately, in 2020 at West Point, PA., and I gather it's completed or almost completed now.
This obviously is still all conjecture because we've heard nothing from the company about a Merck collaboration, but based on facts that many here have assembled, it appears to be a conjecture with legs to stand tall on.
Is it possible we'll get an announcement after approval in the UK (IMO though obviously I expect approval to happen!) about some kind of partnership with Merck??? I think so.

To me, the big question was: Can a public company hold back such a big secret from its shareholders for 5 years?

Dr. Caravello's answer:

Could a deal exist but not be disclosed? Yes. And legally, it’s normal. Under SEC Rule 405 and Form 8-K, companies are only required to disclose material definitive agreements that affect revenue, asset control, or shareholder risk. But if the deal is conditional, pre-commercial, or non-binding until approval, there is no disclosure requirement. Many partnerships begin quietly, especially in biologics. Infrastructure can be harmonized years before launch. It happens all the time.

I may have more to add about the legalities soon.
Thanks again, Dr. Andrew