This troubled biotech needed cash, so it turned to a predatory lender: its own CEO

I don’t write about Northwest Biotherapeutics much anymore because it’s not cool to punch down. However, there was a juicy nugget in the cancer biotech’s recently filed 10-Q that had to be shared. It’s another example of a biotech executive getting rich at the expense of shareholders and patients.

Northwest Bio raised $4 million in the second quarter, then immediately turned around and wrote a check for $4.7 million to its chief executive Linda Powers.