NorthWest Biotherapeutics Inc (NWBO)

[Gus McCrae]

You are moving the goal posts, anders. Nobody is arguing that TLD is not material, it most certainly is for NWBO...we are just pointing out that the DVAX-L TLD is not a specific trigger to any of the items in Form 8-K that require disclosure within 4 business days.

TLD (positive or negative) will end up being disclosed on Form 8-K, probably via Item 7.01 in connection with a press release. It just may take a week or so to get their ducks in a row, so to speak (i.e., talk to the FDA, key opinion leaders, etc.). Or maybe they will get TLD and it won't require any discussion so they can put out a press release immediately. Who knows? The point is, the company has some discretion, but not unlimited discretion.

Why is this so hard for you to understand?

From your own source:

"For example, the New York Stock Exchange (“NYSE”) Manual requires companies listed on the exchange to “release quickly to the public any news or information which might reasonably be expected to materially affect the market for its securities."

I realize that the NYSE's disclosure requirements aren't exactly the same as the SEC's, but you should know that one of the NYSE's listing requirements is that companies abide by all applicable SEC rules and regulations, so if the NYSE says a company has to "release quickly" news that may materially affect its stock price, it is necessarily covering material news or information that isn't already addressed by Form 8-K, you know, like clinical trial test results.