NorthWest Biotherapeutics Inc (NWBO)

[Gus McCrae]

OK...I remember the discussion now. Disclosure, and the manner of disclosure (whether in a Form 8-K or quarterly filing, etc.), are 2 different things, as are best practices. I personally would file an 8-K immediately after a failed trial. Below is another post that I made that give more context on my point.

This is true, but "in a timely manner" doesn't necessarily mean 4 business days. If you read the Form 8-K form on the SEC's website, a failed Phase III trial doesn't trigger any of the mandatory Form 8-K disclosure requirements. It could be disclosed under Item 8.01, but it doesn't have to be.

By the way, I'm not implying that you are one of the ones that believes that a Form 8-K absolutely must be filed within 4 business days if the trial failed...I'm just stating it generally for the benefit of the group.

They definitely have a duty to disclose the TLD in a timely manner, whether positive or negative. If they are holding TLD, they can't issue securities OR extend the warrants again. So if you see the warrants get extended again, they almost certainly don't have TLD yet...only way they could do that is if all of the warrant holders that agree to the extension sign confidentiality agreements, and as a practical matter, there are too many people involved to do something like that, in my opinion.

Caveat to all of this is that NWBO doesn't seem to care much about SEC disclosure requirements.