Northwest Biotherapeutics, Inc.(NWBO)- NASDAQ
  • Tue, Sep. 13, 1:12 PM
    • Nano cap Northwest Biotherapeutics (NWBO +49.8%) shows some oomph today on more than a 13x surge in volume. No particular news accounts for the unusual action, especially considering the market's down day.
    • A week ago, Nasdaq informed the company that its remediation plan to address its failure to comply with listing rules regarding its unregistered issuance of securities to Cognate BioServices was acceptable and the company had regained compliance with rules. In other words, the matter has been closed.
    • During the DCVax-L Phase 3 study in GBM brain cancer, NWBO paid some of Cognate's invoices in restricted stock instead of cash. The shares were unregistered despite contractual obligations to register them.
    | Tue, Sep. 13, 1:12 PM | 20 Comments
  • Tue, Aug. 23, 10:19 AM
    • Northwest Biotherapeutics (NWBO -9.2%) eases on average volume in response to its disclosure that it discounted the exercise prices for certain warrant holders as an inducement to raise ~$1.3M in new capital. The company offered an exercise price of $0.35 a share for warrants to purchase up to 3,656,817 shares of common stock with original exercise prices of $4.50 - 6.00.
    • In addition, Northwest issued new five-year Series E Warrants to the same warrant holders to purchase up to 3,656,817 shares of common stock at $0.41 a share.
    • Net proceeds will fund the start of Phase 2 clinical trials and working capital.
    • Yesterday's close was $0.4077.
    | Tue, Aug. 23, 10:19 AM | 12 Comments
  • Tue, Jul. 5, 10:11 AM
    • Nano cap Northwest Biotherapeutics (NWBO -16.6%) enters into agreements with two institutional investors for the direct placement of 7.4M shares of common stock at $0.50 a share plus five-year warrants to purchase up to 3.7M shares of common at $0.60.
    • The deal should close today.
    | Tue, Jul. 5, 10:11 AM | 10 Comments
  • Mon, May 16, 1:12 PM
    • In a regulatory filing, Northwest Biotherapeutics (NWBO -9.2%) discloses that it lowered the exercise price for holders of certain warrants associated with its recent capital raise. The ~$28M direct offering to institutional investors included Series A warrants to purchase up to 2,205,882 shares of common stock at $2.25, Series B warrants, as an over-allotment option, to purchase up to 4,411,764 shares of common at $3 and Series C warrants which would vest and become exercisable at $4 only if the Series B warrants were fully exercised.
    • On May 15, the company inked a deal with a holder of the Series A, B and C warrants under which the investor agreed to exercise all of the Series B warrants (appears to be the placement agent H.C. Wainwright) but at a discounted exercise price of $0.96, triggering the vesting of the Series C warrants, at a discounted exercise price of $1. The Series C was sold in a concurrent private placement with investors on March 3.
    • Northwest then agreed to issue new Series D warrants to purchase up to 2,205,882 shares of common stock at $1 per share.
    • Shares are currently down 9% but could fall further once investors realize what's happened here.
    • Previously: Northwest Bio executes direct equity offering valued as high as $27.6M; shares off 15% on discount (Feb. 29)
    | Mon, May 16, 1:12 PM | 7 Comments
  • Mon, May 9, 12:50 PM
    | Mon, May 9, 12:50 PM | 1 Comment
  • Thu, Apr. 7, 9:14 AM
    | Thu, Apr. 7, 9:14 AM | 8 Comments
  • Mon, Feb. 29, 12:55 PM
    | Mon, Feb. 29, 12:55 PM
  • Mon, Feb. 29, 12:36 PM
    • Micro cap Northwest Biotherapeutics (NWBO -14.8%) slumps on increased volume in response to its announcement of a direct offering of stock and warrants to institutional investors. The deal consists of 5.88M shares of common stock at $1.70 per share and five-year warrants to purchase up to 2.94M shares of common at $2.25. Gross proceeds will be ~$10M.
    • Investors also have a 60-day over-allotment option to buy up to an additional 5.88M common shares at $3.00 that will include five-year warrants to buy up to 2.94M shares of common at $4.00. Gross proceeds, if fully exercised, will be ~$17.6M.
    • NWBO closed Friday at $2.10.
    | Mon, Feb. 29, 12:36 PM | 7 Comments
  • Mon, Jan. 25, 10:37 AM
    • As part of its effort to give its corporate governance image a facelift in light of allegations of dubious financial dealings by CEO Linda Powers, Northwest Biotherapeutics (NWBO -1.9%) appoints two independent directors, Susan Bayh and Ambassador Cofer Black.
    • Ms. Bayh has over 25 years of industry experience, including board seats on eight public biotechs and multiple leadership positions in three other organizations, including in-house counsel at a major pharma company.
    • Ambassador Black served in the CIA for 28 years including a stint as Director of the Counterterrorist Center. He is currently VP for Global Operations at Raytheon Blackbird, advising the U.S. Government on security and equipment.
    • Previously: Northwest Bio forms Special Committee to investigate alleged questionable financial dealings by CEO Powers (Dec. 8, 2015)
    | Mon, Jan. 25, 10:37 AM | 8 Comments
  • Fri, Jan. 8, 9:32 AM
    | Fri, Jan. 8, 9:32 AM | 36 Comments
  • Thu, Jan. 7, 12:41 PM
    | Thu, Jan. 7, 12:41 PM | 1 Comment
  • Dec. 23, 2015, 12:46 PM
    | Dec. 23, 2015, 12:46 PM | 10 Comments
  • Dec. 23, 2015, 9:29 AM
    • Northwest Biotherapeutics (NASDAQ:NWBO) slumps 16% premarket on increased volume in response to the company's announcement of a direct offering of 3.5M shares of common stock to institutional investors at $3.60 per share. The offering includes five-year warrants to purchase 1.75M shares of common at $4.50 per share. Closing date is December 29.
    • Yesterday's close was $4.45.
    | Dec. 23, 2015, 9:29 AM | 19 Comments
  • Dec. 8, 2015, 9:48 AM
    • The board of Northwest Biotherapeutics (NWBO -2.1%) forms a Special Committee to oversee an independent investigation into recent allegations of financial irregularities by CEO Linda Powers related to certain financial entities associated with her.
    • The Special Committee, comprised of independent directors Jerry Jasinowski and Robert Farmer, has engaged Irvin Nathan and Steven Kaplan of the law firm Arnold & Porter LLP to lead the inquiry.
    • The investigation was instigated by shareholder Neil Woodford, a U.K.-based fund manager who owns a 28% stake in the firm.
    • Ms. Powers says the allegation are "baloney" considering the payments for services to the entities were cleared by the Northwest board and independently audited.
    • The controversy began with a report by Phase Five Research which accused Ms. Powers of using the company as "her personal checking account to financially support her investment" in other private ventures. Specifically, Phase Five asserts that she has transferred ~$310M in cash, stock, warrants and options from the company to the Toucan Group, an entity controlled by Ms. Powers and her husband, since 2004. She does not know how Phase Five arrived at the $310M figure, but business development head Les Goldman says any payments to a company related to Ms. Powers would have been made to a Toucan portfolio firm named Cognate BioServices in consideration of development and manufacturing services for the company's cancer treatment for use in clinical trials. They also say that the bulk of payments to Cognate would have been in unregistered and non-tradable restricted shares.
    • The company says the investigation will take ~90 days.
    | Dec. 8, 2015, 9:48 AM | 22 Comments
  • Oct. 21, 2015, 12:49 PM
    | Oct. 21, 2015, 12:49 PM | 1 Comment
  • Oct. 21, 2015, 12:18 PM
    • Northwest Biotherapeutics (NWBO +2.4%) inks an agreement with Woodford Investment Management for $30M in new capital via Woodford's purchase of 5,454,545 shares of NWBO common stock at $5.50 per share. The buy raises Woodford's stake to 28.1% (25,915,937 shares) of the company.
    • NWBO also issues 700K shares to Cognate BioServices for certain payment obligations and to complete the issuance of shares approved and reported in November 2014.
    • Net proceeds will fund the continued advancement of DCVax-L and the hiring of new personnel.
    | Oct. 21, 2015, 12:18 PM | 11 Comments