NWBO bit recovery off neg news
6.61 -.53 -7.4%
13.45 ET
Shares of Northwest Biotherapeutics (NASDAQ: NWBO) are lower by nearly eight percent after activist investor Richard Pearson released a bearish article on Seeking Alpha stating the stock has been inflated by the company's promotional efforts, utilizing ties with MDM Worldwide and Redfish Creative to publish positive news on the company that Pearson claims was misleading to investors.
Pearson cited that in the writings of promotional articles, the firm Redfish Creative used bulk pricing on Northwest Biotherapeutics with mass message postings on Yahoo's comment board. Other incidents were reported with the company's promotional efforts, such as reports of paid authors using fake credentials in healthcare or finance, along with made-up identities.
Similar claims were reported in a June 19 article published by The Street's Adam Feuerstein . The article titled "Prestigious Cancer Hospital Rebukes Northwest Bio for 'Inappropriate' Data Disclosures," stated in Northwest Biotherapeutics promotional efforts, the company made unjustifiable claims in relation to DCVax-Direct, a cancer vaccine.
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