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Without reading the case, it seems to be about a disclosure from the FDA. That is different, as we do not know if the FDA have any insight into the unblinded data at this time. If the FDA have been involved and guided company that they have not been successful in the trial or that there are warning signs the trial didn't pan out, that would likely trigger the 'immediate disclosure rule'. As we do not know what involvement the FDA have at this time, we can not rely on any immediate disclosure rule in regard to failed trial data.
I am 99% sure this trial is going to be very positive, not because they have not disclosed any failed trial results, but because of the blended data, the continuing of hiring at Sawston and from the remarks from LL and her obvious joy when referring indirectly to DCVax-L.
I don't doubt Anders intelligence, but as a former corporate attorney, I have not been able to find any research that would qualify a failed trial as a material event. If a company would be in doubt, they could adhere to the rule, but that would be to protect any remaining assets. It is obviously a question of interpretation as it is with most legal theories here in the US, but it is not a clear black and white statutory question.
No, 2.06 is not what we are talking about. That section only refers to the value of assets.
The situations when these issues arise are mostly in shareholder derivative suits and I would believe they are just used as added evidence from a complainant that the company acted with 'unclean hands'. I doubt they will ever be reinforced or even considered on a stand alone basis.
I did see an interpretation earlier (when I was looking for some clarification) that a rule of thumb that 'have been used in the past' (Very vague) was if the company expected the information to adversely effect the share price more than 10% they should release the information in an 8k. This seems ridiculous at present time when SP fluctuate tremendously and I doubt this is a guideline that would be upheld.
Like I mentioned earlier, I could not find anything related to whether a failed trial was considered material. I did find some evidence that a denial of an application for FDA approval was considered material and within the 4 day disclosure rule.
It is NEVER up to the company. It is always up to the SEC, If a company is in doubt they need to communicate with the SEC or if the event they withhold shows to be material (All I found was if it has a +10% influence on the SP) they will be in violation of the regulation. What other companies have done in the past is irrelevant in other situations, as we do not know what interaction these companies have had with the SEC,
The question is not whether the SEC can monitor an event simultaneously when it happened, the question is whether a company had knowledge of the material event for a period longer than the reporting requirement. If they did and did not file an 8K, then they are in violation of the regulations. Again, I am not saying that it is clear that a failed trial would be considered a 'Material' event, but your conversation is irrelevant as to the issue of how do SEC enforce it.
It is kind of a question of interpretation. I have seen it mentioned in legal advice that a denied FDA approval is 'Material', but have not specifically seen a failed trial mentioned. The stretch from denied FDA approval to a failed trial is not bigger than it definitely could be argued that the latter is a material event.
You are forgiven. We have gone away from the behavior of our forefathers and are now nice and friendly people who just want to enjoy life. No more raping and pillaging.
You are damn right, that is misappropriation of my people.....
There might not be any official news, but the message board detectives did find a lot of interesting information over the holiday weekend that have been circulating on the interweb and could be the reason for the FOMO that is happening today.
DCVax-L will more than tripple that number for Methylated patients.....
Methylated seems to have the best results.
In regard to the SEC letting a company withhold information that can be viewed as a forward looking statement until a certain event happens, my friend from law school said that it could be a possibility. They don't want information that can be gleaned from the quarterly accounting without a statement that follows explaining the reason for the accounting entry. He said that as long as the company has an open dialogue and the SEC find them forthcoming, the delay can be excused. Take that from what it is. He also said there could be other reasons, which might involve the company simply not being able to get the work done on time, at which point it is up to the SEC whether they would fine the company.
Though we can't be certain, it sure points towards that. We are all just speculating at this point. I don't think the SEC really cares if it is good or bad news, as they are there to enforce the rights of investors as a whole and wants to make sure that information is relayed the right way.
The delay of the 10-Q has nothing to do with Covid. The delay of TLD could have.
A friend of mine from law school, who used to work for the SEC told me not to worry about what is going on at this time. He didn't say it is all good, but until they release any information, there's no reason to worry.
Very likely they have already submitted the 10-Q or at least communicated with the SEC regarding the content that will be included and withheld pending whatever event they are anticipating and do not want to foreshadow in the 10-Q. That is obviously just one of the many situations that are currently unfolding. What is really going on, only the company and SEC knows.
There's obviously something holding up the release/filing of the 10-Q. I have no doubt that there's communication between company and SEC regarding this delay. It is not uncommon for this to happen.
This could very well be the reason for the delay in the release of the 10-Q. If they incurred expenses relating to a potential uplisting during Q3, and that would be reflected in the 10-Q, then it would be prudent to wait with the release of the 10-Q until they have informed market of the desired uplisting.
I don't think we are late with the 10-Q's. I will bet there's communication between the company and the SEC, regarding the filing. It may already have been filed, but not released due to something that will have an influence on the SP going forward, and by that I don't mean forward guidance.
Looks promising. I know LP has mentioned she prefer NYSE, but we are not close to a listing there, but could re-list on NASDAQ fairly soon if she wanted to.
We have all been humbled and like you, I am done with any predictions. I do hope we get it as the first salvo in a longline of great PR's that will move this stock up to where it belongs.
Only $3400 for the report! Glad they have a sale on it.
You have complained that the SP was undervalued and blamed NWBO for that. I was simply replying that the short term value of the SP does not seem to be something they worry about.
I don't think that management is worried about short term SP, like you and many other investors here, who claim they are long in the company. They are looking at the long term value of the company and with that in mind, it matters absolutely nothing if it is at $1.20 or $1.60 right now.
I agree 100%
I have full faith in LP and admire how she has managed to get this company so close to the finish line with all that goes on in small biotech.
We have no clue what is going on behind the scenes and until we do, I am staying comfortably long. She has managed to get two of the highest regarded neuro surgeons on board and whether she was influential wrt the change in FDA's policy or not, she deserves credit for where we are now.
Thank you for sharing and thank you for including their go fund me page.
Thanks for sharing, 10Bagz. I am not sure DI is involved with anything in the company that is relevant to us. His response that how do they communicate without revealing information related to the trial is likely the dumbest response I have seen from an IR person, and I have worked with some that couldn't work their way out of a sweater. It just shows that he is unfamiliar with the situation he is in right now and worried about not screwing up. There's absolutely no inference to the trial results if they stated that the Statistician had taken longer than expected due to Covid. There's no inference as it relates to the trial if they came out with a statement in regard to where in the process they were in the analysis of the data. Those are just two examples, I am sure you guys can find many more that would have had a calming effect on shareholders in regard to timing and not results.
Could be the warrant holders covering their profit. That's in my opinion the main reason for the shorts. You have warrants at $0.25 that are not due until December. If you short an amount equal to 1/5th of the amount of warrants at $1.25, you are covering your initial investment, so you won't lose anything should the share price drop to zero.
11/13/2020
NORTHWEST BIOTHERAPEUTICS INC
NWBO
Other OTC
Current shorts 20,695,302
Previous 18,647,962
The extension they filed was not released until the following day (11/11), though dated 11/10.
If they filed on time yesterday, it could be that Edgar was not ready to release it prior to market opening today and will release it after close today or before opening tomorrow. I know I am guessing, but it seems that Edgar is always a day or two behind in the release of news from OTC companies.
Guidance could be the first step in the story they want to tell. Second step would be a brief TLD announcement and then hopefully they will have more PR's following to help make this a steady climb.
I don't, but some posters here have said that they do.
What kind of completely idiotic statement is that? You have no clue how hard they are working. LP is largest shareholder and the one who stands to lose the most of they screw up. It is moronic claims like this that make me wonder WTF I am doing here, reading this board daily.
I understand that there are some people who are all-in on this stock (Tryn2, Poor Man etc). It is understandable that they are getting frustrated because they have their life savings bet on this company. To them, I just want to wish them good luck getting TLD sooner than later.
That's exactly my point. Not sure why you are telling me this?
Issues that are related to something that happened during the quarter, but will have an impact on future finances. That could be extension of the agreement with Cognate etc.
They could have filed the 10-Q already. Edgar does not post immediately, so we will know by tomorrow if they filed it on time.