NorthWest Biotherapeutics Inc (NWBO)

[beartrap12]

Slave, another note on the Dr. Kevin Duffy time with NWBO...or more accurately on the time he left.

To go back in history first, very long Longs, do you remember the Neil Woodford debacle?

Here's the PR:

BETHESDA, MD, October 21, 2015 – Northwest Biotherapeutics (NASDAQ: NWBO) (“NW Bio”), a U.S. biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, announced today that the Company has entered into agreement for funding of $30 million from Woodford Investment Management in the UK (“Woodford”).
Woodford will purchase $30 million of the Company’s common stock at $5.50 per share, for a total of 5,454,545 shares, raising Woodford’s total holdings to 25,915,937 shares, or about 28.1% of the Company.  The purchase will take place in a closing on or before October 22, 2015.
NW Bio also announced that it has engaged Ondra Partners (www.ondra.com), a London-based corporate finance firm with a focus on value creation and an integrated approach to medium and long term financing and related initiatives.
In connection with this financing, the Company has issued 0.7 million shares to Cognate BioServices on the same terms as Woodford’s stock purchase, for certain current payment obligations, as well as completing the issuance of shares to Cognate that were approved and reported in November 2014, but had not yet been issued.
“NW Bio has reported encouraging interim clinical data from both its DCVax-L and DCVax-Direct clinical programs, both last spring and recently, with patient survival exceeding expectations.  With this new funding from Woodford we look forward to moving these clinical programs ahead vigorously while continuing to build our organization” commented Linda Powers, CEO of NW Bio.

We thought he was the golden Prince that would finance us and bring us out of obscurity and into the big bucks. We didn't know a lady named Wolf was a trojan horse from Ondra Partners (who Woodford suggested to management), entering our company right through the front door. Not until Linda caught her sneaking a look at documents that she had no business looking at did management realize what her true purpose was. Turned out, she was trying to gain info against NWBO and, I believe Cognate, not for a partnership, but maybe a take over by Woodford.
The claws came out, the gang circled, and Linda began a battle that eventually wiped out Woodford and his bio fund companies. Literally. I remember the bad blood between them and Linda was not afraid to talk about it (As I remember. I attended that ASM that year.)

Run forward in time to Dr. Duffy's arrival fresh from Merck in September, 2019. The company announced his hire by PR, quietly said little to nothing while he was with us, then had nothing but praises of his work with us after he left and returned to Merck a year later.
When it became obvious there was no deal with Merck in the near future, I actually wondered if management had let another wolf in the front door, and wondered if time would prove that Merck ripped us off. I believe others thought the same.
But wind forward to today...now it appears that management's positive opinion of Duffy after he left should have been a clue, a big clue that something had come out of his time here after all, a deal that wasn't entirely finalized, I'm guessing, an agreement based on "ifs: if we bring our product to approval, perhaps.
I think the contrast between these two shows that Linda always, ALWAYS protected and protects DCVax. It should have been a clue!!