Didn't I just say that they are trying to BK them? I never said it couldn't happen. The hedge funds are doing their job trying to BK us for big pharma and some "so called" philanthropist.
But if what Chris claims that Linda has offers but will not entertain them,
I always love the argument that companies will/should not partner cause they will not get fair value.
Well, consider these numbers. Suppose two years ago NWBO had given away half the rights to DCVax-L and Direct to a BP for nothing more than the other party paying all forward trial costs and a few bucks for operating expenses. Where would they be?
A) They would own 50% of the pie. But as it is they (Q1 '15 ownership) now only own about 45%. And LP/Cogante/Toucon's share has dropped similarly.
B) There would be real resources backing development. Look at how many trials these guys run. Several dozens for promising drugs, and for the drugs like the CI inhibitors, over 100. Combo trials would not have waited until they were 2-3 years behind the field.
C) Some industry and clinical development experience. NWBO has a few researchers they can lean on. But nothing about the vast issue of large trials and navigating the FDA/EMA.
D) Direct trials would not have to sit on the shelf for lack of money.
E) The dilution is not over. That 45% stake could drop to 30% in a flash.
Alternatively, they could have just sold out 2 years ago. Had they sold for $700M, those owners would have received $10. Now looking at $0.42
Either way, if a BP was willing to talk, they would have been far better off dealing vs walking. So either LP is an idiot (and I do not believe that to be the case) or there simply was no offer. True for virtually all dev stage biotechs (the exception being those few very well funded ones).
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