AF strikes again


Northwest Biotherapeutics (NWBO) disputes Adam Feuerstein's claim that it manipulated the release of information pertaining to the approval of DCVax in Germany.

Shares are down 14% on moderately higher trade after yesterday's bullish spike on heavy volume.

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Comments (19)
  • GreenGrowthGeek
    , contributor
    Comments (2065) | Send Message
     
    This windbag just bashed RNN as well and on that one he clearly doesn't know what he is talking about especially related to Supinoxin which will be a blockbuster drug. I don't own NWBO but if I did I would see this as a buying opportunity. Booyah?? Not so much.
    12 Mar 2014, 10:41 AM Reply Like
  • alext1379
    , contributor
    Comments (811) | Send Message
     
    Doesn't matter if he knows what he's talking about, as long as the fearful listen.
    12 Mar 2014, 10:43 AM Reply Like
  • Smith On Stocks
    , contributor
    Comments (1027) | Send Message
     
    Feuerstein has published clearly false and misleading information.

     

    He alleged that NWBO purposely delayed releasing news for two weeks on the approval of DCVax-L in Germany under the hospital exemption early access program. He states that this was done to manipulate the stock price by using the release as a “smokescreen” to divert attention away from other issues on the stock. If this allegation were correct, which it is not, would be a violation of securities law by NWBO.

     

    Northwest Biotherapeutics has just published a press release that shows that Feuerstein’s allegation is patently false and misleading. It clearly lays out the timeline that shows that the release of this information on March 10th was the earliest possible date that it could have done so. Feuerstein has clearly got this wrong and I would expect that he will apologize and issue a retraction.

     

    Northwest released a press release that clearly shows that his allegation that Northwest Biotherapeutics purposely delayed the announcement on the release of the German approval is patently false and misleading. The Company in its press release unequivocally refutes allegations made by Feuerstein in article published on Tuesday March 11. Feuerstein falsely accuses NW Bio of intentionally delaying the announcement of the Hospital Exemption approval by the Paul Ehrlich Institute (“PEI,” the FDA of Germany). Feuerstein’s accusations are factually wrong, materially misleading and reflect a lack of knowledge of German legal requirements relating to the PEI decision and the Company’s announcement.

     

    Feuerstein noted that the PEI decision was delivered to the Company on Friday, February 21. What Feuerstein failed to note was that the quite lengthy PEI decision document was delivered to the Company entirely in German. It required more than a week for the Company to receive the English translation. Due to the technical nature of the document, the Company had to obtain confirmation of the accuracy of the translation and confirm certain provisions of the approval. This process took several days.

     

    The final requirement under applicable German regulations was that the Company was required to obtain approval of the full English press release before releasing it. This was done by an independent Information Officer in Germany designated by PIE. The approval of the German reviewer was received by the Company at the end of the day on Friday, March 7, U.S. time. The Company then proceeded with issuance of the announcement on Monday morning, March 10.
    12 Mar 2014, 10:48 AM Reply Like
  • theredbaron8888
    , contributor
    Comments (30) | Send Message
     
    You expect too much of him, Mr. Smith. Apologizing requires character.

     

    I expect quite the opposite - one more article - slanderous hot air essentially, to pacify his ego. I do think he is on his last legs, though.
    12 Mar 2014, 10:56 AM Reply Like
  • InmanRoshi
    , contributor
    Comments (217) | Send Message
     
    He's now personally invested in seeing NWBO fail because his credibility is at stake. He's picked a side, so objective review of actual data and facts fall secondary to "winning".
    12 Mar 2014, 11:10 AM Reply Like
  • Smith On Stocks
    , contributor
    Comments (1027) | Send Message
     
    It is perfectly alright to have a negative opinion on a company. It is not alright to purposely publish false, damaging and clearly misleading information to manipulate the stock price.
    12 Mar 2014, 11:17 AM Reply Like
  • InmanRoshi
    , contributor
    Comments (217) | Send Message
     
    To anyone with knowledge with GBM, he should have been pegged as a charlatan in his initial claims that any Phase I/II results were a "placebo effect".

     

    You're as likely to "placebo" away a GBM as you are an oncoming train.
    12 Mar 2014, 11:18 AM Reply Like
  • MedTechBio
    , contributor
    Comments (2890) | Send Message
     
    "Never attribute to malice that which is adequately explained by stupidity." ~ Robert J. Hanlon.

     

    You stopped short of accusing AF of intending to manipulate the stock price. Good on ya, mate.
    16 Mar 2014, 12:10 PM Reply Like
  • SmokeyBear
    , contributor
    Comments (14) | Send Message
     
    I don't think we'll see an apology from Mr. Fuerstein. He will likely say something like the company dragged their feet intentionally, etc..... He will use any opportunity he can to instill doubt so his short buddies can recover.
    12 Mar 2014, 10:56 AM Reply Like
  • barnsey
    , contributor
    Comments (318) | Send Message
     
    I love the headline ~ inside joke for anybody who regularly trades biotech.
    12 Mar 2014, 10:57 AM Reply Like
  • Smith On Stocks
    , contributor
    Comments (1027) | Send Message
     
    Feuerstein has been made aware that his information is incorrect, but refuses to apologize and retract. He may have overstepped. He has gone from journalism to purposely promulgating false information that has manipulated the stock price. This situation is so egregious that I would not be surprised to see the SEC get involved.
    12 Mar 2014, 11:03 AM Reply Like
  • tinsley09
    , contributor
    Comments (339) | Send Message
     
    What is the mechanism to involve the SEC.?
    12 Mar 2014, 01:04 PM Reply Like
  • Smith On Stocks
    , contributor
    Comments (1027) | Send Message
     
    I think we may soon find out.
    12 Mar 2014, 01:29 PM Reply Like
  • GrowthGeek
    , contributor
    Comments (2745) | Send Message
     
    Anyone can make a formal complaint to the SEC about illegal stock price manipulation. The standard of proof is pretty high however.
    12 Mar 2014, 01:44 PM Reply Like
  • InmanRoshi
    , contributor
    Comments (217) | Send Message
     
    His bio from The Street...

     

    "Before joining TheStreet in March 2001, Feuerstein covered business software for Upside.com. Prior to that he covered a variety of business beats, including technology and commercial real estate, at the San Francisco Business Times.

     

    Feuerstein graduated from Emory University with a bachelor's degree in political science."

     

    So, basically, this guy has absolutely no background in hard science, much less clinical research, much less bio-tech engineering. Quite frankly, it shows. I've read all of his criticisms, and they basically amount to dissecting the wording and phrasing of press releases, fleshing out conspiracy theories, manufacturing speculation and connecting imaginary dots.

     

    He's not interpreting data, he's interpreting Tarot Cards. One could gain just as much useful insight and analysis as to whether or not DVax is ultimately effective at treating glioblastoma as they could from a magic 8 ball.
    12 Mar 2014, 11:32 AM Reply Like
  • Smith On Stocks
    , contributor
    Comments (1027) | Send Message
     
    Well, he has clearly done so in this case.
    12 Mar 2014, 12:53 PM Reply Like
  • Bobbyboogies
    , contributor
    Comments (122) | Send Message
     
    Oh I agree 100%. Maybe I shouldn't be but I am shocked and baffled by his article and his actions.
    13 Mar 2014, 09:46 AM Reply Like
  • Yastremzki
    , contributor
    Comments (32) | Send Message
     
    Sorry, I've followed NWBO for a while. They are still standing after other "GBM companies" have stumbled. To me, the only reason for this is that they have dragged their feet for an interminable amount of time w/o releasing substantive results. The CEO has made some moves that have raised my eyebrows and could be construed as suspect. Their PIII trial will never pass as such in the US and will need a follow-up - MO. Lastly, with all the research into stem-cell applications, Provenge is the only treatment that has made it to mkt. as marginally effective, and seems to be losing that designation with each passing day. NWBO's lysate is similar to other treatments for GBM that have failed in trial. I'm staying away, I don't trust management, or the viability of the science - at least at this point...
    28 Mar 2014, 02:05 PM Reply Like
  • cfriend881
    , contributor
    Comments (601) | Send Message
     
    Yastremzki..sorry you lost some on IMUC..I took a hit also, an i played that one hedged an still lost 10 % of my portfolio....still believe in the science, too many walking an talking real live folks around , so the science works , its just tickering with the dosages an using some additive chemo to boost the initial effect with the different type cancer cells.....nwbo is different from imuc with the # of antigens it covers.....taken from the patients own tumor....signaling pathways are cancers roadblocks to therapy, but the science is developing an method of application of treatment with it....too many survivors prove science is gaining ...so i dont agree with your premise..an your statement....however, just to be more truthful an mindful, bot another 30 may 7.5 calls at 0.90 and 30 july 7.5 calls at 1.4 just so we can check to see where the rubber meets the road...also hold about 740 common , so if there is no addtl ,dilution before positive results on efficiency, which can crush my portfolio, i believe the science an application can an will prove beneficial to mankind...this is not simply a treatment, they have an are developing a CURE!! IF YOU HAVE THE COMMON SENSE....to think..!! THERE IS A DIFFERENCE !!AN THERE is where the pot of gold or real money will be made....just my thinkin on the subject, with my money on th table...BUT, OH, YOUR TALKIN, an no money on the table.........whats that sayin......TALK S CHEAP ! PUT YOUR MONEY UP, OR you dont get to play...!!
    30 Mar 2014, 10:51 PM Reply Like
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