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I have read her resume and her pedigree is top line. Having said that pedigree is not everything. Some on this board may be new to the NWBO show but I have been here since 2013 when there was supposed to be a interim analysis for L. We never got that. I would say waiting for roughly 3 years is pretty patient. My patience has run out, now that is not going to cause me to sell my shares, but it's time to get some data out to the public good or bad.
As the company PR indicates they can request a readout which is why we now have a readout/data that is supposed to come out in 2 weeks.
I have wondered about the partnering, my opinion is that the safety profile is what big pharma is interested in.
I understand, but do you understand that they are doing this based on an estimate according to their own PR? They don't know if PFS is reached, they don't know the events, they are going on an estimate.
the Company had estimated that the numbers of "events" to reach the main endpoints of the Trial may be reached in November 2016. Following the end of the month last week, the Company requested updates from the external parties managing the Trial about the numbers of "events" (i.e., tumor recurrences or deaths).
Also they could have informed us that they had 331 patients enrolled at anytime, as it does not indicate when those patients were enrolled. Yet now they identify the details of the hold and the amount of Patients enrolled.
I was one of their biggest supporters, I still support them, but I am very skeptical of management based on their history of not following up or providing clarity. I was elated when they mentioned that they were going to do an internal and external investigation, we have yet to hear about that. I am elated to hear that they are requesting a read out, but I am not holding my breath that we get it in two weeks.
I am still long, I am just much more critical of the company than I have ever been. Like I said in my last post and I have said long before, I am here to the end of the phase 3 L trial come hell or high water. I hope it is high water
I actually disagree. They could have announced the trial update or pending trial data or the 331 of 348 which could have been used to hold the price over $1 which would then cause the NASDAQ delisting issue to null and void. I am a very long term holder of NWBO and I am fed up with the BS that we get. I am venting as I just read the possible read out from the most recent PR that provides details that could have been disclosed long ago. It feels like another carrot. At least we got the bad news (delisting first) then the PR of the news that everyone has been waiting for. Also the point about the second meeting after the annual meeting to discuss a R/S seems very shady to me. Here's to actually getting data of some sort in two weeks. I have been holding NWBO since 2013 for a data readout of phase 3, I don't care if it is good or bad as I have committed my funds come hell or high water, I just want some actual read out that we have been promised for years.
I am also here until the end, good or bad.
Glad to see some of the long term holders are still here.
The whole biotech sector went up today. There was nothing new about NWBO released. That one of the reasons why NWBO was up today. That and NWBO is way oversold. But then again I'm long.
What about that answer do you not understand/accept?
XBI rebound. All bio techs were up today for the most part. The biotech sector may be oversold.
I am not in collusion with anyone. I have been looking at numerous other biotech firms for application of additional funds. I happened upon ARGS, I noticed the steep climb, started doing some research on the company, waited for a possible entry. Got filled ion the $5,70 range, now it looks good. The day after I opened a starter position it dropped 10-15% and did not look good then.
I figured that I'd buy an opening a position where the most recent financing took place was a decent place to start.
I still have my position in NWBO, I plan to keep it through hell or high water.
I have been long NWBO since 2013. I am very frustrated with the current situation. I am at my rick limit for NWBO and cannot put any more money in. I would like to but I must not put all my eggs in one basket.
I am not pumping either company, I am of the opinion that the risk reward in both situations presents an opportunity and I have put my in accordingly.
I will answer in the form of a question
Who is Pyr?
Your post makes no sense, in the sense that you and your crew have been advocates of NW opening the books from the get go. So if that happens then great, the books are opened and then woodford can exercise control and influence directions towards returning shareholder value.
Also the NSADAQ matter will go through due process and the NASDAQ wants to have the matter resolved, lest they would just remove NWBO outright. The reason they haven't already is that the matter can be addressed in an orderly fashion, despite what you and your crew want to manifest. It's called due process, something you don't acknowledge is available to NWBO to clean up. It's a minor compliance matter that can be remedied. As opposed to something the Madoff did which was criminal and could not be remedied.
How many companies have to amend documents filed with the SEC? How many have to amend documents on file the NASDAQ? Answer: Often for both. If there was anything criminal about the matter the NASDAQ would include the authorities, and they haven't.
Well you guys are certainly working overtime, for all your belly aching the market has interpreted the PR as positive as the price of NWBO has gone up today despite the whole market dropping.
Remember the days when you claimed to be a shareholder? That still cracks me up every time I think about it.
Who needs readyforbluesky when we have you chinatown.
I did not purchase any ARGS when I made that post. But I did start scouring over their PR's and various other data. I encountered their most recent financing, and decided that the price the most recent financing occurred would be a decent entry point. So I am waiting to open a position around the price of the most recent financing.
Could be UCLA? Party does not mean company, although they are always better with company......wacka wacka (insert fozzy bear voice)
Exactly. One of the short pillars "no one is interested in working with NWBO" is about to go bye bye.
Furthermore the limited details pertaining to direct appear to be getting better with time.
Hopefully the interim analysis, when done, comes back with positive efficacy, then we longs can wave bye bye to grapefruit juice and the gang.
I wait for the day to unload on some of the posters here, but only if the data is positive and the time is right.
In the meantime, I'll wait
To be clear I think the PR is very positive overall in the sense that there is validation for ongoing trials from big pharma. Eat it AF
Where I am understanding of the negative is the issue of the equity transfers/compensation. I am not that worried about it for 2 reasons, one the Nasdaq is and will be working with NWBO to remedy the matter. NWBO will work to remedy the matter quickly lest they risk Nasdaq reprimand which is not going to start with delisting and there are due process measures in place for NWBO. As of current there is no reprimand just notification and conveyance to remedy. Two, if that means that the amount of shares issued to Cognate for the services provided will be less than initially awarded, then there are more shares available to NWBO.
I agree that I think we will need more to break the current trend. More would include finalization of temp hold of phase 3, coupled with beneficial financing and decent terms for collaboration.
10-Q should be filed soon (in two weeks or less) so we may see more details then.
They are doing that already. Hell the other guy was writing an article admit fraud risk.....news flash every company everywhere has fraud risk. Just as every company in the market has market risk.
For a company to say we don't have fraud risk would be a ridiculous claim
8-K mentioned in the press release is now up on SEC.GOV
https://www.sec.gov/Archives/edgar/data/1072379/000114420416098362/v438613_8k.htm
The Company has received a letter from the staff of The NASDAQ Stock Market LLC ("Nasdaq") indicating that the Nasdaq Staff reviewed certain stock issuances by the Company to Cognate, and determined that those issuances did not comply with Nasdaq rules 5635(c) and (d), as described in a Form 8-K being filed by the Company today. The Company is currently in discussions with the Nasdaq Staff about two potential approaches to remedy the non-compliance with these rules, and the Company intends to take the appropriate steps to address the issues raised by the Nasdaq Staff as quickly as possible.
After a quick search the NASDAQ rules mentioned pertain to equity compensation and private placements.
See link
http://nasdaq.cchwallstreet.com/NASDAQTools/PlatformViewer.asp?searched=1&selectednode=chp_1_1_4_3_8_26&CiRestriction=5635&manual=%2Fnasdaq%2Fmain%2Fnasdaq-equityrules%2F
My favorite part of the press release is this part
The Company has received updated data from the ongoing follow-up of patients in the Phase I portion of the DCVax-Direct trial. To date, 20 of the 40 patients have exceeded 12 months overall survival ("OS"), 13 of the 40 patients exceed 18 months OS, at least 10 of those 13 patients (with 2 of the 13 currently unknown) are still alive at OS times up to 29 months to date, with the majority having exceeded 20 months.
I bet those patients are quite happy about NWBO
Finally got the news alert on the board, thank you for the update
What news section? Please provide link
Look there is life from NWBO after all. At least something is getting done.
You speak as though you have specific insight as to when the short interest will exit their trade.....interesting....the opens a lot of questions
I don't think they would purchase at $3 unless it was profitable to do so. They could purchase shares at a slow pace in the market at a much lower price.
What baffles me (not really) is that the shorts are in a profitable position. So they are risking their profitable position, let's say their average is in the $6-$8 range overall. So they are risking $4.50-$6.50 to make $1.50. I am aware how hollow shorts are on the inside meaning they have little soul/moral fiber, but what I cannot fathom is that they would be so fool minded as to leave that profit on the table for a fraction more? Why not take your profit and find another target with a better risk/reward situation as there are literally thousands of better investments out there right now. Yet they persist here to gain an extra $1.50 or roughly $18 million ($1.50 X 12 million shares) on an estimated $54-$78 million profit. That is more crazy to me than being long at $1.50 plain and simple
All the details are included in the press release and the annual filing on file with the SEC which can be found on SEC.gov.
Give a man a fish, feed him for a day, teach a man to fish, feed him for life.
Yes it would. But it would also be in their interest that every deal has tiered insurance or enough coverage to cover any upside risk they have.
Shorts make no mistake you have risk here
Longs make no mistake you have risk here
I am of the opinion that the possible reward is greater than the risk.
Let's take it one step further, according to AF via tweet, the last financing was done by a vulture short hedge fund. If all the conditions are met from the financing the short hedge fund/funds would be able to purchase 17 million shares. The last I checked on the short interest part of the Nasdaq website is that the total short interest is roughly 12-13 million shares. So if all the conditions are met, and these vulture short hedge funds purchase all the shares possible according to the terms of the financing, then they would in the end be long NWBO. Assuming there are no dark pools, and for the sake of argument lets assume there aren't.
Interesting insurance policy if you ask me. I still don't like it, but just pointing out an interesting point.
The other interesting part of the recent financing is that someone was willing to purchase/wanted shares and warrants for shares of up to 17.64 million shares.
5.88 million shares
2.94 warrants for shares
5.88 million shares over allotment
2.94 warrants for shares
17.64 million shares on the line to an "Existing institutional investor"
I am of the impression that that means a short vulture hedge fund who wants to close down, or the option to close down their position in the most structured way possible.
Shorts clearly don't want to buy on the open market, as that would cut into their profits. Imagine if some wanted to buy 17 million shares (or 12 million according to the short interest per the Nasdaq website last I checked) in the open market, where do you think the price would go?
The effect will be zero if the warrants expire as they were never purchased. All that NWBO gave was the right to purchase the warrants.
I also went back to review the press release and noticed that there were also warrants with an exercise price of $2.25 included. The extra allotment was additional warrants, yes people spun it to mean there was a positive outcome coming, and other people spun it to mean negative.
The financing was structured in a tiered fashion.
NW Bio Announces Registered Direct Offering Of Up To $27.6 Million With Existing Institutional Investors
BETHESDA, Md., February 29, 2016 – Northwest Biotherapeutics (NASDAQ: NWBO) (NW Bio), a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, today announced that it has entered into definitive agreements with current institutional investors for a registered direct offering with gross proceeds of up to approximately $27.6 million, assuming exercise in full of the overallotment option described below.
As part of the transaction, the Company will immediately sell approximately 5.88 million shares of common stock at a purchase price of $1.70 per share resulting in gross proceeds to the Company of $10 million. The investors will also receive warrants to purchase up to approximately 2.94 million shares of common stock with an exercise price of $2.25 per share. The warrants will have an exercise period of five years commencing on the 6-month anniversary of the warrant issuance.
In addition, Northwest granted to the investors a 60-day overallotment option to purchase up to an additional 5.88 million shares of common stock at a purchase price of $3.00 per share, for an aggregate purchase price of approximately $17.6 million. In connection with such purchase of shares pursuant to the overallotment option, the investors will receive warrants to purchase up to 2.94 million shares of the Company’s common stock with an exercise price of $4.00 per share and an exercise period of five years commencing on the 6-month anniversary of the warrant issuance.
The placement is expected to close on or about March 3, 2016, subject to satisfaction of customary closing conditions. H.C. Wainwright & Co., LLC acted as the exclusive placement agent for the transaction.
The securities described above are being offered pursuant to a shelf registration statement (File No. 333-207976), which was declared effective by the United States Securities and Exchange Commission (“SEC”) on December 22, 2015. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. When filed with the SEC, copies of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained at the SEC’s website at http://www.sec.gov or by request at H.C. Wainwright & Co., LLC, at placements@hcwco.com.
The answer to your question is irrelevant as there was a conflict of interest plain and simple. Because of the conflict of interest, OP had to cease their engagement.
Exactly, how many times do you think ultra competitive consulting firms remove themselves from an engagement? Unless the client isn't paying their bills, then darn near zero.
Consulting firms live on stretching out engagements as long as possible to bill out more hours. Or they have predetermined engagement fees for projects. I have worked at a consulting firm and prepared billing as an interim head accountant. It was a small firm at just $20 million in annual billings. They would never give up a client, it's cutthroat competitive.
I find it interesting that in your long winded explanation where you "disagree with me" you point out numerous flaws and errors made by OP, identifying that they eventually withdrew from the consulting engagement, why might they have withdrawn from the engagement? Answer because of the conflict of interest.
Should they have identified the conflict of interest prior to the engagement? Yes they should have so that they would not have to lose face and eventually withdraw from the engagement.
They should not necessarily turn down the engagement but they should not have staffed the engagement with a person who has a conflict of interest.
Your point about no one being able to work with anyone is false. The whole reason there are reviews of conflicts of interest before the engagement, of which you are aware, is to avoid these matters.
I suggest that if OP could not staff the engagement with a crew that is free of conflict then they should not have accepted the engagement, and that is correct, as evidenced by OP ceasing the engagement after it was determined there was a COI.
And finally where I agree with you is when you state
Correct,
Similar if you go to work at a large accounting firm, the firm will ask you about the details of your and your spouse's retirement holdings. You will not be able to work on accounts that you have holdings or you will need to close out any holdings you may have in a client that you work on. The HR departments will make sure that this is taken care of because the liability is huge, and if there is a conflict or perception of conflict of interest then the firm can lose the client and more importantly lose credibility, far more important for the firm than the client.
Wolf knew this, and should have disclosed this information. Ondra's HR department should have known this about Wolf and dealt with it prior to allowing Wolf to be involved in any way. Plain and simple.
Chinatown please explain how the gifting of shares was not beneficial for shareholders.
I present to you the opposite of your question. Please provide explicit details of all transactions listed and executed, as well as any consideration provided in exchange for shares?
Also include the total shares gifted, market value of shares, for context and materiality.
Thank you
Generally when you claim no one is making a claim I take it to mean no one. When in fact the silence that we are experiencing is in great part the result of a shady "research" company who created a hit piece claiming NWBO was perpetrating criminal activities, all while disclaiming that they had a short position and nothing in their report should be taken as fact. That report caused Woodford to call for an investigation that is ongoing or outstanding. So again you are wrong when you claim no one is claiming criminal activities. Frankly I don't care if you intended to mean not in that conversation, you wrote no one, and in fact there are lots of manipulators out there claiming criminal activity by NWBO.
But that's right I forgot you weren't aware of any of this you have only been here for two weeks. How silly of me!
I find your posts so hypocritical. You accuse the company of misrepresenting themselves while you misrepresent yourself in every post. You masquerade as a shareholder, we all know that is a farce.
You go on to claim that no one is claiming that the company has acted in a criminal way. That is the exact position of the "firm" who prepared the report about NWBO, and you knew that, yet you claim otherwise.
How many alias's do you have?
At least PYR was able to comment that he had at least 3 different names.
Exactly
Frank, please keep up your question has already been answered.
monentum2play Wednesday, 04/20/16 12:10:17 PM
Re: Doktornolittle post# 59365
Post #
59367
of 59378 Go
I wouldn't say never!
http://s1.q4cdn.com/460208960/files/March-17-2016_NWBO_Zeng.pdf
Absolutely, I am watching the landscape. It seems to be a lot of activity going on. ARGS was on a massive upswing, now has cash, is making conservative moves to stretch cash farther, the price has receded and may present a entry point for someone without a prior position. I am just mulling plans for some cash I have available. As I said my risk tolerance is nearly at max, so I cannot allow my self to put much more in NWBO.