Northwest Biotherapeutics Inc (OTCMKTS:NWBO) shares were up 5.74% on Monday to $0.193 and unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.14 to $0.98. The company has a market cap of $37.52 million at 191.80 million shares outstanding.
The company just announced closing the $7.5 million financing that it had shared on March this year. There were a handful of investors who participated in the offering to the tune of 28,843,692 shares.
Northwest Biotherapeutics Inc also announced has entered into a Note Repurchase Agreement with holders of their 5.00% Convertible Senior Notes. Under this agreement, the company will periodically repurchase all outstanding notes in installments of predetermined amounts and there is $2.5 million worth of shares to be repurchased.
Lastly, the company entered into an Exchange Agreement with the Investor in which the Investor agreed to convert the acquired notes into 20,628,571 shares of common stock valued at $0.001 per share. Investors are entitled to warrants for the purchase up to 16,071,428 shares of Common Stock – exercisable at $0.175 per share and have a two-year exercise window from the issuance date.
Northwest Biotherapeutics Inc is a biotechnology company that is focused on developing immunotherapy products to treat cancer. One of the product lines, DCVax-L, is designed to cover all solid tumor cancers in which the tumors can be surgically removed. Another product line, DCVax-Direct, is designed for all solid tumor cancers.
DCVax-L is in an ongoing Phase III trial for diagnosed Glioblastome multiforme, with over 60 trial sites. Its second product, DCVax-Direct, is being studied in a 60-patient Phase I/II trial for all types of inoperable solid tumors. The 40-patient Phase I stage of the trial has been completed.
Northwest Biotherapeutics Inc is working on preparations for Phase II trials of DCVax-Direct. Its platform technology, DCVax, uses activated dendritic cells to mobilize a patient’s own immune system, including T cells, B cells and antibodies and natural killer cells, among others to attack cancer cells to attack their cancer.