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NW Bio 2012 Annual Report Shows Strong Progress And Enhancement Of Leadership Position
Date:4/8/2013

s incurred in the ordinary course of business, and expects to maintain such payables on an ongoing basis.

The Company raised over $32 million in financing during 2012.  This included $12.7 million in December, pursuant to an underwritten offering under an S-1 registration statement, and a series of financings totaling $19.6 earlier in the year.  As noted above, the Company also was awarded a $5.5 million non-dilutive matching grant from the German government earlier in the year, which the Company plans to start drawing down in Q2 of 2013. 

Following the Company's balance sheet clean-up and underwritten offering of $12.7 million in December 2012, the Company completed the year by listing on the Nasdaq Capital Markets after a decade listed on the Bulletin Board.  The Company's stock began trading on Nasdaq on December 7, 2012.

As of December 31, 2012, the Company had an aggregate accumulated cash deficit of $140 million, since inception of the Company in 1996, and accumulated non-cash (accounting measures) deficit of $179.1 million.  Accordingly, the Company's combined cash and non-cash accumulated deficit is $319.1 million since the Company's inception.

When the Company begins having taxable income, this $319.1 million deficit should provide corresponding tax benefits as Net Operating Loss (NOL) carryforwards.

About Northwest BiotherapeuticsNorthwest Biotherapeutics is a biotechnology company focused on developing immunotherapy products to treat cancers more effectively than current treatments, without toxicities of the kind associated with chemotherapies, and on a cost-effective basis, in both the United States and Europe.  The Company has a broad platform technology for DCVax dendritic cell-based vaccines.  The Company's lead program is a 312-patient Phase III trial in newly diagnosed Glioblastoma multiforme (GBM).  GBM is the most aggressive and lethal form of brain cancer.  The Compa
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SOURCE Northwest Biotherapeutics
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