NorthWest Biotherapeutics Inc (NWBO)

[dennisdave]

It’s not insider trading if you’re buying directly from the company pursuant to an offering. Trading means the trading of outstanding shares.

Insiders may be sued civilly either by the Securities and Exchange Commission ("SEC") or by private litigants if they trade in securities while in possession of material nonpublic information concerning the issuer of the securities. They may also be charged with a criminal violation.

https://www.sec.gov/Archives/edgar/data/1164964/000101968715004168/globalfuture_8k-ex9904.htm#:~:text=Insiders%20may%20be%20sued%20civilly,charged%20with%20a%20criminal%20violation.

It would be absurd to suggest that a trade is not a trade when the securities are bought from the listed company itself.