Navigation Links
Northwest Biotherapeutics Announces Plans to De-list From AIM and Consolidate its Stock Market Listing in U.S.
Date:7/23/2009

BETHESDA, Md., July 23 /PRNewswire-FirstCall/ -- Northwest Biotherapeutics, Inc. (OTC Bulletin Board: NWBO; AIM: NWBT and NWBS) today announces that it will seek shareholder approval for the Company to cancel its listing on the London Stock Exchange's AIM market ("AIM") (the "De-listing"). The Company plans to continue its listing in the U.S., on the NASD Over the Counter Bulletin Board Market ("U.S. listing"), and plans to file an S1 registration statement under which the stock held on AIM may become tradable on the U.S. market.

After much review and evaluation, the Company has concluded that it is in the best interests of the Company and its shareholders to de-list from AIM. The reasons for this include the following:

  • The high direct costs of maintaining the Company's AIM listing;
  • The operational and legal difficulties of being subject to two different regulatory regimes in two different countries, under which the Company has faced conflicting requirements on an ongoing basis;
  • The management time taken up with the Company's AIM listing;
  • The lack of significant liquidity or other current benefits from the Company's AIM listing; and
  • The ability to continue the Company's U.S. listing, unaffected by the De-listing from AIM.

The annual meeting of the Company's shareholders will be convened shortly and the relevant circular and proxy materials will be mailed to all of the Company' shareholders in advance of this meeting. One of the purposes of the meeting and the circular and proxy materials is to explain the rationale behind the proposed de-listing and consolidation of trading in the Company's shares on a single market in the U.S. Shareholders will be asked to vote at the annual meeting or through proxies on a resolution to approve the de-listing. Further details will be announced in due course.

The Company has sufficient cash at hand to fund operations into August, however the Company will need to raise additional capital to fund its clinical trials and other operating activities, and repay indebtedness in due course. Shareholders should be aware that if the Company's capital raising efforts are unsuccessful, this will have a material adverse effect on the Company's financial position and operations.

About Northwest Biotherapeutics

Northwest Biotherapeutics is a biotechnology company focused on developing immunotherapy products that treat cancers more effectively than current treatments, without toxicity, on a cost-effective basis. The Company has two broad platform technologies: dendritic cell-based vaccines and therapeutic antibodies. The Company is in a large Phase II clinical trial in GBM, with 13 clinical sites across the U.S. The Company has also received clearance from the FDA for a large Phase III trial in prostate cancer, and for Phase I trials in five other cancers. The Company has started, and is currently enrolling patients in, a Phase I/II trial with DCVax(R) for recurrent metastatic ovarian cancer. The Company's second technology platform, involving antibodies to CXCR4, is at the late pre-clinical development stage.

For further information about clinical sites and Company information please visit the company web site at www.nwbio.com.

Disclaimer

Statements made in this news release that are not historical facts, including statements concerning future securities registrations or other filings with the U.S. Securities and Exchange Commission ("SEC"), future treatment of patients with GBM using DCVax(R)-Brain, and other future clinical trials, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "expects," "believes," "intends," "anticipates," and similar expressions are intended to identify forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated, such as the SEC's review and evaluation of securities registrations or other filings, the Company's ability to raise additional capital, risks related to the Company's ability to enroll patients in its clinical trials and complete the trials on a timely basis, uncertainties related to the clinical trials process, uncertainties about the timely performance of third parties, and uncertainties about whether the Company's products will demonstrate safety and efficacy. Additional information on these and other factors, which could affect the Company's results, is included in its SEC filings and the Risk Factors section of the Form S-1 that the Company is preparing to file. Finally, there may be other factors not mentioned above or included in the Company's SEC filings or upcoming Form S-1 that may cause actual results to differ materially from those projected in any forward-looking statement. You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.


'/>"/>
SOURCE Northwest Biotherapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Avantium to Deliver Flowrence System to Pacific Northwest National Laboratory (PNNL), USA
2. Dendreon Corporation CEO Mitchell H. Gold, M.D. Named Ernst & Young Entrepreneur of the Year(R) 2009 Award Finalist in the Pacific Northwest
3. Cell Therapeutics Presents Corporate Highlights at Invest Northwest Conference
4. Cell Therapeutics, Inc. (CTI) to Present at 8th Annual WBBA Invest Northwest Conference
5. Oncothyreon to present at Invest Northwest 2009
6. Sirius Genomics to Present at Invest Northwest Conference
7. Northwest Biotherapeutics Secures $700,000 Equity Financing
8. Pacific Northwest National Laboratories Becomes a GeneGo Center of Excellence
9. Northwest Biotherapeutics Settles Class Action Complaint, and SEC Investigation Closed Without Action
10. Northwest Secures US$1.65 Million Debt Financing
11. Northwest Secures US$1.0 Million Debt Financing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/3/2016)... 2016  Discovery Laboratories, Inc. (NASDAQ: DSCO ... KL4 surfactant therapies for respiratory diseases, today announced ... inducement award as a component of employment compensation ... President and Chief Executive Officer.  The award was ... 1, 2016 and granted as an inducement material ...
(Date:2/3/2016)... Ascendis Pharma A/S (Nasdaq: ASND ), ... TransCon technology to address significant unmet medical needs, today ... Leerink Partners Global Healthcare Conference Location: , Waldorf ... 2016 Time:  , 11:55am EST www.ascendispharma.com ... An audio webcast of this event will be posted ...
(Date:2/3/2016)... , Feb. 3, 2016 New ... more than $1 million for researchers in ... on health-related research that demonstrates exciting potential.   ... of funding for the New Jersey Health Foundation Research ... members at these educational institutions— Princeton University, Rutgers ...
(Date:2/3/2016)... ... 2016 , ... ProMIS Neurosciences is currently in the process ... propagating strains of Amyloid beta involved in Alzheimer’s disease. The Company plans to ... on from the first misfolded Amyloid beta target announced on Nov. 12, 2015, ...
Breaking Biology Technology:
(Date:1/11/2016)... CHICAGO , Jan. 11, 2016  higi, ... via nearly 10,000 retail locations, web and mobile, ... than $40 million from existing investors. ... will be devoted to further innovate higi,s health ... app and web portal – including expanding services ...
(Date:1/7/2016)... -- This BCC Research report studies the global as ... identifying newer markets and exploring the expansion of the ... Includes forecast from 2015 to 2020. Use ... the expansion of the present application market for various ... technology, determine its current market size, and estimate the ...
(Date:1/6/2016)... 2016  Varam Capital, a provider of micro-finance inclusion ... deliver advanced authentication solutions to their clients. Varam supplies ... A loan of a few thousand rupees may make ... ability to purchase livestock or equipment for a small ... for a local store. ...
Breaking Biology News(10 mins):