NorthWest Biotherapeutics Inc (NWBO)

[dennisdave]

While I'm certainly no expert on when good news needs to be released, it seems that "material news" need to be released by the "fastest available means"... but the four day rule doesn't apply if the news still remains only within the company. Still... whether one thinks it has to be within four days or not, .

We are just going in circles. What annoys me is the repeated lie ex makes that an MHRA Notice of Refusal (or Letter of Refusal) for NWBO would somehow not be a material event that requires immediate disclosure. That claim is 100% false and a severe misunderstanding of SEC rules.

Anyway I must disagree with that last point. Waiting until the quarterly filing (Form 10-Q) is absolutely incorrect and would be a massive violation of SEC rules.
A regulatory rejection from the MHRA is a sudden, one-time, and extremely 'material' event. Companies cannot hold news of that magnitude until the next scheduled filing, which could be weeks away. Under the Materiality Standard (Rule 10b-5) and stock exchange rules, this news must be released immediately (via press release and Form 8-K) to prevent investors from trading on false information and to avoid insider trading liability.

IF the company holds good news, or bad news like something regarding the approval or not of their application, I'd think they'd have to put it in their upcoming Q. Last year, that came out on the 12th of November. I'm not sure exactly when it's due this year, but I'd think it's within a couple of days before or after the 12th

It is 100% correct that in and of itself a listed company must correct its previous 10Q/K statements if the situation changes.

Ps Im not a securities lawyer or attorney at law either, my brother is and he approved this message ;)