Replies to post #651110 on NorthWest Biotherapeutics Inc (NWBO)

[Smokey21]

I seem to remember a conversation with Les a while back where he indicated that the revenue was going to the CDMO to offset expenses of the vaccine creation. There has been a lot of investment in people and process to get to the point of creating a CDMO that can meet the demands of these “specials” and therefore, the CDMO is getting the revenue and NWBO is getting some level of revenue (after direct costs are subtracted). At least that is how I remember it. It was a while ago, so I may be off in my recollection of what was said.

[biosectinvestor]

1) patients have listed gofundme like fundraising yes, but have they been able to raise those sums in any substantial number?

2) my previous comments still apply and they also even apply in the context of Les’ comments about production.

3) further, there are regulatory issues concerned for them, so they may need to take steps with regard to such revenues as well that we may have no idea about and so those numbers may not yet be recognized as revenue for some local regulatory reason.

The reality is, this is beyond the experience of any company that I have observed in this context and I would guess is unique in the U.K. with regard to such a complex, cell based, personalized living product.

[CaptainObvious]

I've stated this concern since the Cognate days. No good answer yet, except that maybe NWBO is not allowed to profit on specials. I would imagine that stated costs from Advent could be, uh, inflated, so that Advent/Toucan/whoever is making the $$.

If that's the case, will the cost structure remain the same once NWBO gets approval? The precedent would be there for it.

If so, the value of Advent could be shown to be much higher than NWBO based on income, with accounting tricks maybe.

If that's the case then any merger with Advent/NWBO/etc. could give LP 51%+ control over the merged entities.

In this case it would be in the best interest to not let the sp of NWBO get out of control. Keep the MC down. How would you do that? I dunno, no communication, fumbled PR's, missed deadlines, vague timelines, things like that, along with help from the inevitable shorters.

That would be a smart move, if one had a cynical mindset, and very little conscience.

The good news is longs might get enough of a return to be happy they got something, and keep their mouths shut, and a new cancer treatment becomes available to the public.

It's a win/didn't lose everything situation

[Poor Man -]

It would be nice to receive an accounting of how many patients are treated under the specials program, and how much revenue is recognized.

If the terms of the contract with Advent are that they retain revenue collected from specials for buildout, then that should be disclosed.