Replies to post #457121 on NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

Thanks, Jerry.

Right, my first thoughts were a near term JV. I sleep on a park bench and my wife denies ever knowing me for good reason.

Since the latest plan was dated May, 2020, I think you safely forget your idea about a near term transaction.

[biosectinvestor]

The thing I've found is that people can spin any act as greedy jerks... even if management was doing the opposite. It really doesn't matter.

Amusing, but probably not a motivation for extending the warrants out.

All IMHO.

[EMHLondonUK]

Jerry, agree that the change of control provision is pretty standard in corporate compensation contracts. Generally, PSUs / RSUs / Options all accelerate and vest in full at a transaction.

The slightly less typical compensation behaviour is the repeated extension and suspension of warrants and options. The Board could (probably rightfully) claim that they want management to make long-term value maximising decisions, not short-term optimisation around personal compensation, and protect shareholders from sudden management-driven dilution.

I can buy those rationale - just about. I’d buy it more if / when we see the journal article publication and how much additional cohort segmentation they may have needed to do to make external control arms like-for-like with the original patient population plus the crossovers under new definitions of GBM.