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You're talking about Boynton disposing 10,309 shares @ 49 cents? Why?
There's a lot going on between NWBO and Cognate so that will come out in detail soon.
On 100 shares before 8am. Someone doesn't know what they're doing.
I have heard of that issue many times but have never experienced it myself. I have also never held a stock going from the big boards to the OTC so it will be a new experience.
Cusip won't change. Symbol will probably gain a letter for the 10 days it is on OTC (starting the 19th) until it is off Nasdaq officially...at which time it should go back to NWBO. That is how it usually works.
New options will not be created upon expiration. All current options will trade as usual until they expire.
No that does not happen. You need to reread the PRs.
19th according to the PR on the 7th and then the 8k filing on the 9th which gives the 10 day notice.
KCG has done the most today and UBS second most. Business as usual.
I saw that question, but I don't know and I will have to ask my compliance guy. I'm just the trader!
What I am saying is retail can only push a price up so much. Without the help of the institutions, this is not going where people want it to while on OTC. Of course it can go up from here because the market cap is ridiculously low. But we're going to get a large dilution in the near future. I am just throwing a number out there, but I would say the top is about $1-2B mkt cap on OTC.
Illegal shorts having to cover due to it going OTC is just not the case.
Legal shorts may want to because the cost to borrow will be much higher.
Anyone who thinks there are no illegal shorts, that's cute. I would love to live in a land of gum drops and lollipops again.
38 is my lucky number. Let's go with that.
IMO, No it is not.
Senti has a lot of info on him. She will probably post soon.
Agree 100%.
From The UK Times:
Neil Woodford, the star fund manager, has thrown in the towel on his disastrous investment in Northwest Biotherapeutics, a US company labelled a “house of cards” by a short-seller.
A litany of problems at the company, which has been developing a novel brain cancer treatment, has seen the value of Woodford’s $180m investment dwindle to $15m (£11.9m).
Northwest warned in a stock market filing last week that it would default on its debts unless it raised new funding. Its decision to delist from Nasdaq triggered an $11m bond repayment.
Woodford Investment Management, the company’s second-biggest investor with a 21% stake, signalled this weekend that it would not put in any more money. It said: “We initially invested in Northwest because we believed in the technology. What we underestimated was how governance issues would undermine the fundamental technology story.”
The shares have plunged by nearly 90% since October last year, when Phase 5 Research, a short-seller, published a blistering report.
The note alleged insider dealing and questioned hundreds of millions in cash, shares and warrants that Northwest paid to Cognate Bioservices, a manufacturing company controlled by Linda Powers, Northwest’s chief executive.
The company said the allegations were, “manifestly inaccurate, misleading and defamatory” and denied all wrongdoing.
After the report, Woodford tried to put a former FBI agent on the board to get to the bottom of the charges. The company rejected his demand.
Instead, it drafted in Cofer Black, a retired CIA counter-terrorism specialist. Northwest launched its own inquiry. Woodford said: “We’d hoped the shortcomings in governance, reporting and relationship between the company and its manufacturing business could have been addressed. But a complete response has not been forthcoming and we have not had any meaningful dialogue with the company.”
http://www.thetimes.co.uk/edition/business/woodford-gives-up-on-american-biotech-disaster-r5vqn3pmc
RK-
With all due respect, you cannot bring R/S for uplisting into this conversation. That is a completely different circumstance. After reverse splits for uplisting of course the stocks go up because now institutions can get in. R/S for trying to stay listed are catastrophic and always collapse the share price. Let's say they do a 1:10 reverse to get the price to $6. Your 100k shares just became 10k. The price will decline on top of that quite a bit because no new institutions are getting into a stock that just had to reverse split to stay listed and many retail will be scared away. Now institutions already holding are looking at it again to make sure they still should because they are clearly getting fundamentally weak.
I like your analogy. However, my understanding is it's more like they have made 76 of the needed 80 and have taken 92 of 100 shots. They choose to stop and want to use their 82.6% thus far as proof they can make 80/100 shots.
An 8k was just filed but I am driving can someone please post!
Reminder-
This was filed in an SEC document on Aug 21, 2015.
Exhibit 99.2
Shareholder Question:
There is a lot of confusion about your trial on the message boards. Are the 300 patients actually in the trial and being treated or are they just being screened? Also, what information are you submitting for regulatory review?
Company Answer:
Yes, the 300 patients are actually enrolled and being treated in the trial.
Also, being in the trial means that the patients are not in the Information Arm, and not in the pseudo-progression arm, each of which are parallel with the trial but outside the trial.
The supposed “confusion” about our enrollment is, once again, certain bloggers and commentators trying to turn good news into bad news about NW Bio and its trial. People familiar with clinical trials are generally aware that screening of patient candidates for eligibility is different than recruitment or enrollment of patients for treatment.
Regarding the information we are submitting for regulatory review: companies do not normally discuss such information when they are in the middle of a regulatory process or dialog, and we do not plan to do so either. We will provide an update when the process is finished and there is something to report.
It was on the PR. They will trade on OTC-QB
Tis merely a flesh wound
see my last post 87561
NW Bio Provides Update About Phase 3 Trial Of DCVax®-L for Newly Diagnosed Glioblastoma Multiforme Brain Cancer
2016-12-08 19:04:51.107 GMT
NW Bio Provides Update About Phase 3 Trial Of DCVax®-L for Newly Diagnosed
Glioblastoma Multiforme Brain Cancer
Trial Enrolled 331 Patients;
Data "Events" Accumulating Towards Trial Endpoints
PR Newswire
BETHESDA, Md., Dec. 8, 2016
BETHESDA, Md., Dec. 8, 2016 /PRNewswire/ -- Northwest Biotherapeutics (Nasdaq:
NWBO) ("NW Bio" or the "Company"), a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, today provided an update about the Company's Phase 3 trial of DCVax®-L for Glioblastome multiforme (GBM) brain cancer (the "Trial"). The Company announced that 331 of the planned 348 patients have been enrolled in the Trial, and that data "events" have been accumulating towards the endpoints of the Trial.
As noted in the profile of the Trial on www.clinicaltrials.gov, 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). Such updates typically take a couple of weeks, including quality control checking.
The Company hopes to receive this information and be able to make a further update announcement in approximately the next two weeks. The Company remains blinded in regard to the Trial data and, as before, will only be receiving such updates on a blinded basis.
Since the summer of last year, the trial has been subject to a partial clinical hold, only on recruitment. As a result of the partial hold, the Trial has not enrolled the last 17 of the total 348 patients. To date, the regulators have not agreed to remove the partial hold, but have allowed all of the patients in the Trial to continue being treated in accordance with the Protocol. The Company is pursuing ongoing dialog with regulators. However, at this point the Company believes that the potential benefits that could be obtained from enrolling the final 17 patients would not be worth the time it would take, as the process of re-starting and re-training the sites (including through Institutional Review Board renewals) for further enrollment would take months, followed by further months for the recruitment itself.
Accordingly, the Company is no longer seeking to enroll the last 17 of the 348 patients. Rather, the Company is focused on accumulation of the "events"
necessary for the Trial endpoints. When sufficient "events" have accumulated, the external parties managing the Trial will then begin the process of moving toward "data lock" and then analysis of the data, which are typically each multi-month processes, particularly for large international trials.
331 of 348 patients just announced.
You'll get back pennies on the dollar that you invested.
No it's not. Say you're trying to buy 1000 shares at the market. The best price for you may be to have that split up into 10 different 100 share lots or a lot of 60, a 40, a 200 etc until you get your full shares. You don't want to see all of those pieces on your account statement, you just want to know your average cost for the 1000 shares in one single report. Most likely the delay is because your broker is sending your purchase through an average price account to make that happen. It executes the trades in the best way possible before you can blink your eye. It just takes the system a few minutes to get the average price and report it back to you. At least, that's what we do at my place of business.
Lol am I shorting? You have no idea how long I am about everything NWBO related. You need to read The Intercept multi-part comprehensive review on KCG.
To whom? They're doing it illegally. I don't think you guys get it. When you're doing something illegal you don't have to cover it up legally.
It says in the PR they will list on the QB.
Absolutely it's a mistake for the long-term. They need to get relisted eventually. Without knowing what's going on behind the scenes, and knowing the need for financing, perhaps it's the right thing to do at this time. I'll give them the benefit of the doubt, again.
If all of the true longs are right and the data comes out great, it won't matter. But, say that were to happen next year, 3 years from now they will be relisted. I can guarantee you that. Nobody stays OTC that is worth anything. There are reasons for that. ADRs are OTC because it's easier so that they don't have to adhere the ADRs to the cost of accounting standards while they're already doing that for their parent listed company on a big board in the home country.
I only know the answer to number 3, and it is yes.
All of these are ADRs for foreign listed companies. Completely irrelevant.
Not legally
I disagree but value and understand your opinion. It is just my experience that R/S have psychological connotations that end up way more often than not destroying a share price for an extended period. We are used to that though so...
Me too. Our options should be fine, they just won't offer more options on expiration. However, I don't trade options for work only my own personally so I don't know all the details there. They may be harder to close due to liquidity? I am going to look into it tomorrow.
We really only have one institutional investor worth a damn anymore. NW invests in unlisted stocks so we don't have to worry about this affecting his position. If we had a bunch of others, the days up to delisting would be very bad because they would have to bail. Most institutions won't touch OTC stocks.
My personal best return ever was an OTC so it's not like we are completely screwed this instant. But like I said a week or so ago, "real" companies are listed.
There will be more volatility, hopefully that works in our favor.