ILT:
You are telling us that a $7 Million loan made to NWBO on May 12, 2026 should give us confidence that the MHRA will eventually approve the DCVax-L MAA. The relevant language in the 2026 1Q Form 10-Q says the following:
"The Company entered into a Commercial Loan Agreement with a commercial lender as of May 12, 2026 for funding of $7 million. There are no repayments during the first 8 months of the term – payments will start on January 11, 2027 and will be made in 14 equal monthly installments at 110% of the pro rata principal amount plus accrued interest. There is ten percent original issue discount, the interest rate is 8% and the term is 22 months. This funding is designated for certain upcoming capital expenditures and certain upcoming operating expenses."
We don't know who the commercial lender is, and we don't know whether this loan is secured by a lien on NWBO's property. Why wouldn't such a lender just make a loan based upon it being secured by adequate collateral? At that point, the lender does not care whether MHRA approves the DCVax-L MAA because the lender can always be repaid by taking the collateral. Please explain why I am wrong. Thanks.
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