NorthWest Biotherapeutics Inc (NWBO)

[exwannabe]

Perhaps we finally see revenue from compassionate use.

That is not what the difference is loss is about. Through Q3 revenue (that includes Specials) was $1.5M this year vs $1.1M last year. Almost nothing.

Over the last 3 years the net loss has varied by hundreds of millions while the operational loss was fairly stable. The reason is the line item:

 
                                                      2022     2021      2020 
 Change in fair value of derivative liabilities   (25,821)  239,347  (435,351) 
 

What that represents is gains/losses in the warrants. When the PPS goes up the value of the warrants owed by NWBO goes up so the company takes a loss. 2020 was a huge rise in PPS and cause the huge loss. 2021 saw a pull back and thus owed less so this was actually positive earnings. And in 2022 there was a modest gain so a modest earnings loss.

In 2023 there was just a small drop in price. So expect a small income reported on this line. And that will explain the bulk of the difference in net loss vs 2022.

EDIT: BYW, that line item also should take into account change in fair value of the convertible notes. But I guess we really do not know if they did or not.