Not necessarily. Maybe early in a drug’s life.
It’s late in the development process and the application for approval is already filed and the manufacturing facility is in place overseas.
But a variety of things and deal structures can happen. They might provide payment for expanding to certain other indications, they might pay for markets not currently in process like Asia, and in those instances given that most of the heavy lifting has already been done, more likely the focus would be on extending approvals more quickly to markets like Japan and South Korea, etc. that could be done with smaller, localized partners probably for a lot less of the opportunity. It is not clear that a BP brings a lot to the table in that instance since this is not a product sold to consumers. You’re not likely to see DCVax-L advertisements on TV any time soon and it won’t be necessary to grab significant market share for relevant initial diseases.
Often it can be territorial though, and given the product is customized for each patient, geographic division is easiest. My guess is they will keep brain tumors tight, with partners, and be more generous for expanded label opportunities.
But they are well past the point where they have to give up the drug to get any attention.
But I think a deal would likely focus on sweetening the pot, improve their sustainability and broadly their market appeal, market cap and provide possibly a direct investment on the way toward either JV / buyout.
A friendly suitor would recognize that no one wants to sell now at these prices and there needs to be a courtship period to build value back, validate and affirm the technology and approach, not just for NWBO shareholders but for their own as well.
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