NorthWest Biotherapeutics Inc (NWBO)

[Umibe5690]

As a material event, they would be obligated to reveal trial failure within a reasonable time frame after knowledge thereof.

However, you only really know about trial failure if a regulatory agency determines that the trial has failed. NWBO is far from that regulatory determination. The better question is whether NWBO is legally obligated to reveal if an end point (s) has/have not been achieved. For example, the overall primary endpoint may not have been achieved, but a significant sub- category has shown some efficacy and some secondary endpoints have been achieved. Accordingly, while failing on the primary endpoint, it does not necessarily mean that the trial itself has failed. It may not look good, but at that point there has not been any trial failure.

If the trial has officially failed, a regulatory agency would so determine it. The company would then be required to reveal this. However, to what extent if any are they bound to reveal about meeting particular endpoints prior to any determination about the trial itself?

Bottom line, one cannot depend upon company silence as indicative of lack of trial failure, assuming of course, that the company is unblinded. It is way too early to tell. JMHO