NorthWest Biotherapeutics Inc (NWBO)

[hankmanhub]

the fact that warrants were converted to shares does not mean those common shares are then being sold. In fact it makes sense for warrant holders to convert now, before the share price runs up, as this will reduce the tax burden of that conversion. So warrant holders converting means they believe our stock will be worth more in the near future.

This is not correct imo. There is no difference taxwise, based on the date of conversion of warrants to shares. No matter what the market price is at that time, the cost basis of the new shares will always be the exercise price, ie, what you actually paid for those shares - no matter what the market price is at that time. Of course the proceeds will then depend on what you eventually actually sell those shares for - whenever that happens.