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March 28, 2014
10:37 EDTNWBONorthwest Biotherapeutics slides after presentation at cancer conference
Northwest Biotherapeutics (NWBO), a development-stage company focused on immunotherapy products that generate and enhance immune system responses to treat cancer, is trading down sharply after the company presented information about its cancer vaccine DC-Vax. The company's disclosures about the brain cancer study had issues, according to a report by Adam Feuerstein of The Street. WHAT'S NOTABLE: Yesterday, Northwest Biotherapeutics disclosed information about its cancer vaccine DC-Vax and its ongoing phase III brain cancer study during a presentation at the New York Academy of Medicine. Feuerstein's report contended that the information was "amazingly negative" and that CEO Linda Powers "spun the bad news in the opposite direction." The biotech reporter added that Powers would not give specific details about patient enrollment in the study. PRICE ACTION: Northwest Biotherapeutics is trading down 62c, or 7.97%, to $7.16 in morning trading. Reference Link
News For NWBO From The Last 14 Days
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November 30, 2015
07:37 EDTNWBONW Bio welcomes Woodford call for investigation of short-seller allegations
Northwest Biotherapeutics announced that the board is committed to adding an additional independent director, and the company welcomes Neil Woodford's call for an independent investigation of allegations in a recent anonymous internet report on NW Bio. The company's Board is under way on both initiatives. NW Bio CEO Linda Powers stated, "We agree with Mr. Woodford that, at NW Bio's current stage of development, expanding our board to include another independent director with financial expertise can be quite helpful for the company's continued growth. Our clinical programs are growing, and we have expanded the management personnel in important areas during this year, including expansion of the independent external team that has been performing our CFO function since 2012, as well as expansion of internal financial personnel and clinical personnel. It makes sense to expand the Board as well. The interview and consideration process for a new board seat is well under way with Mr. Woodford's candidate, Mr. Elliott Leary. Our board is hoping to meet with him again in the next couple of days, and to promptly complete the process. We also welcome Mr. Woodford's proposal for an independent investigation of claims made in a recent internet report. Most of those claims have been recycled over and over, and the internet report was anonymous. However, the company and the board take such claims seriously, the board has already been meeting to address the report, and the board plans to meet again this week in regard to moving forward on an independent investigation such as Mr. Woodford has proposed."
November 25, 2015
09:35 EDTNWBOWoodford turns activist on Northwest Biotherapeutics
Woodford Investment Management transitioned from a passive investor to an active shareholder in Northwest Biotherapeutics after sending a letter to the company's board requesting an independent non-executive director be appointed. In a letter to the board disclosed last night in a regulatory filing, Neil Woodford of Woodford Investment stated, "I am writing to ask you to formally accept our proposal to appoint an independent non-executive director to the Board. As we have stated, we believe that, at your current stage of development, the Company and its shareholders would greatly benefit from the appointment of one or more directors with the skills and experience to provide significant contributions and oversight to the Company's operations and growth." Woodford has also engaged Freeh Group International Solutions to provide risk management services in relation to its investment in Northwest Bio. "These services include the provision of a suitably qualified candidate, Mr Elliott Leary, for appointment to the Company's Board. Following your agreement in principle to this proposal on 13 November, 2015, we submitted a highly qualified candidate who met with the Board last week," the letter to the board stated. Woodford explained, "We believe the candidate's skills are especially suited to the current situation of the Company in relation to the various allegations of financial improprieties and regulatory failure that have been published by at least one anonymous source. We would like to note that we only became aware of certain of these allegations after the completion of our recent investment in the Company comprising US $30 million in new equity." Woodford Investment owns 28.1% of Northwest's outstanding shares. The stock is up 5c to $5.01 in early trading.

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