Northwest Biotherapeutics, Inc.

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  • 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
  • Oct. 19, 2015, 12:43 PM
    | Oct. 19, 2015, 12:43 PM | 3 Comments
  • Oct. 19, 2015, 11:22 AM
    • In a statement released today, Northwest Biotherapeutics (NWBO +11.5%) says it is unaware of any fundamental reason that would have precipitated Friday's 29% sell-off on triple normal volume. It says it presented positive clinical data at scientific meetings as late as mid-September.
    • On Thursday afternoon, the Financial Times published an article by Judith Evans titled, "Biotech sell-off hurts Woodford trust and specialist funds." Northwest was cited in the piece as one of the contributors to a one-month NAV loss of over 6% in the Woodford Patient Capital Trust, launched in April. The article's role in Friday's action is, of course, unknowable.
    | Oct. 19, 2015, 11:22 AM | 56 Comments
  • Aug. 24, 2015, 12:46 PM
    | Aug. 24, 2015, 12:46 PM
  • Aug. 21, 2015, 9:13 AM
    • Northwest Biotherapeutics (NASDAQ:NWBO) is down 11% premarket on light volume in apparent response to the disclosure of a temporary halt to its Phase 3 DCVax-L clinical trial in Germany. The reason for the action is not provided.
    | Aug. 21, 2015, 9:13 AM | 50 Comments
  • Mar. 27, 2015, 12:57 PM
    • At the 2nd Annual Immunotherapy of Cancer Conference in Munich, Germany, Northwest Biotherapeutics' (NWBO +6.6%) Chief Technology Officer Dr. Marnix Bosch presented data from an Information Arm of 51 patients with glioblastoma multiforme (GBM) treated with DCVax-L. They were treated outside of the company's Phase 3 study because they were not eligible due to evidence of early tumor re-growth following six weeks of standard-of-care treatment with radiotherapy and chemotherapy. The data showed longer-than-expected survival.
    • Overall survival data were generated for all 51 patients, but only 46 had MRI images available. Patients in this group were classified as Rapid Progressors (n=20) (patients with a new lesion of at least 1 cm in size or tumor growth at least 25% both at baseline visit and Month 2), Indeterminate (n=25) (evidence of progression at baseline visit followed by stable disease or modest progression/regression) or Pseudo-Progressor (n=1) (Month 2 MRI showed resolution of most of tumor growth seen at baseline visit).
    • Median overall survival (OS) of the 51 patients was 18.3 months, with ~30% living beyond two years. Median OS for Rapid Progressors, the ones with the poorest prognoses, was 15.3 months. Median OS for Indeterminates was 21.5 months. The Pseudo-Progressor is still alive (30.1 months to date). The results reflect as much as a 50% improvement over expected OS.
    • The Phase 3 trial assessing DCVax-L in GBM is ongoing.
    | Mar. 27, 2015, 12:57 PM | 34 Comments
  • Feb. 19, 2015, 4:31 PM
    • Health Canada approves the start of Northwest Biotherapeutics' (NASDAQ:NWBO) ongoing Phase 3 clinical trial of DCVax-L in glioblastoma multiforme (GBM) brain cancer. The study will be performed at two sites, the Montreal Neurological Institute and Hospital and Quebec's Centre Hospitalier Uninversitaire de Sherbrooke, Hopital Fleurimont. The approval processes have been completed at both sites and patient screening for enrollment is underway.
    • The 348-patient study is being conducted at 51 sites in the U.S. and additional sites in Europe. The lead site is Kings College Hospital in London. The primary efficacy endpoint is progression-free survival.
    • DCVax is comprised of activated dendritic cells which are designed to boost the immune system to fight cancer.
    | Feb. 19, 2015, 4:31 PM | 3 Comments
  • Sep. 30, 2014, 11:00 AM
    • TheStreet's Editor-In-Chief Janet Guyon writes an extensive rebuttal to an article published on September 27 by the Washington Post's Steven Pearlstein where he accuses Adam Feuerstein of being in bed with short sellers regarding Northwest Biotherapeutics (NWBO -1.9%). In short, he accuses AF of securities fraud.
    • TheStreet, unsurprisingly, takes exception to the piece saying Mr. Feuerstein does not own shares in NWBO, is not in cahoots with any hedge funds and supports his articles with facts. Ms. Guyon requests a retraction.
    • Many observers will undoubtedly find the situation humorous considering AF's confrontational style. Mr. Pearlstein, however, questions his integrity which is out of bounds without the facts to back it up.
    | Sep. 30, 2014, 11:00 AM | 34 Comments
  • Sep. 16, 2014, 9:20 AM
    | Sep. 16, 2014, 9:20 AM
Company Description
Northwest Biotherapeutics Inc is a development stage biotechnology company engaged in the development of immunotherapy products to treat cancers more effectively than current treatments, without toxicities of the kind associated with chemotherapies.
Sector: Healthcare
Industry: Biotechnology
Country: United States