Appreciate you brother. And the biggest tell is THE FACT THAT LP SOLD ADVENT TO NWBO AT A LARGE DISCOUNT
If LP had any doubt about the MAA outcome, the smartest financial move would have been to wait for the MAA decision before deciding whether to sell Advent to NWBO or to sell it independently. Advent could have easily been sold on its own for hundred of millions of dollars after MAA rejected when NWBO went to $.01 and all its shareholders lost everything. People like LP do not hand over private companies worth hundreds of millions just to temporarily signal false confidence.
That is not how she has ever operated as indicated by selling Cognate for $856 million and also her willingness to maintain complete silence through this 700+ day MAA delay despite the share price dropping under $.17 and investors demanding an explanation. The fact that LP sold Advent to NWBO at a deep discount strongly suggests she sees much greater value coming from the NWBO side, not from selling Advent separately.
Most bullish take:
Advent ends up being part of a future NWBO buyout or partnership, which would make LP’s 250 million plus NWBO shares worth far more than any standalone Advent sale.
Most bearish take:
LP expects a long MAA delay and wanted to show some good faith to keep shareholders on board through more dilution and more waiting. This is certainly possible and looking more likely now that several months have passed since, but the advent acquisition and terms and language in the accompanying PR still make MAA approval seem reasonably certain.
Bullish