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Saturday, January 23, 2021

Northwest Biotherapeutics, Inc (OTCMKTS:NWBO) Posts a Glaring Breakout Day

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Northwest Biotherapeutics, Inc (OTCMKTS:NWBO) is a penny stock that’s clearly begun to spur some interest among OTC players. As we see it, this is a clear technical breakout, plain and simple. NWBO had been basing for the past 3-4 months, and support finally started to hold consistently, pointing to a combination of an exhaustion of sellers and an influx of new money.

As far as recent catalysts, the company’s latest move was its announcement that it has closed a convertible debt exchange and financing transaction with a non-affiliated investor and has completed the payoff of the last $5 million of principal and $175,000 of interest on bonds from a 2014 financing. According to the release, this completes the Company’s payoff of $11 million in principal amount of bonds, plus associated interest and forbearance fees, over the period from March through June of this year in accordance with an installment payment agreement with the bondholders entered into in March.

Northwest Biotherapeutics, Inc (OTCMKTS:NWBO) bills itself as a development stage biotechnology company focused on discovering, developing and commercializing immunotherapy products that generate and enhance immune system responses to treat cancer.

The Company operates in the United States and is incorporated in Delaware, USA.

According to company materials, “Northwest Biotherapeutics is a biotechnology company focused on developing personalized immunotherapy products designed 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 331-patient Phase III trial in newly diagnosed Glioblastoma multiforme (GBM). GBM is the most aggressive and lethal form of brain cancer, and is an “orphan disease.” The Company is also pursuing a Phase I/II trial with DCVax-Direct for all types of inoperable solid tumor cancers. It has completed the 40-patient Phase I portion of the trial, and is preparing for the Phase II portion. The Company previously conducted a Phase I/II trial with DCVax-L for metastatic ovarian cancer together with the University of Pennsylvania.”

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As noted above, the company is working through what appears to be a basing pattern of sorts.

The evolution of that process was like the roots and stem of a flowering plant. Thursday’s move was the blossom opening for the world to see.

Will it continue higher? It’s tough to say, given the that the only catalyst in sight was the company’s announcement that it closed a convertible debt exchange and financing transaction with a non-affiliated investor and has completed the payoff of the last $5 million of principal and $175,000 of interest on bonds from a 2014 financing.

According to management, “the convertible debt issued in the transaction has a 3-year maturity. The debt will bear interest at 12% per annum.  No interest will be payable during the term:  the interest will accrue and be payable at maturity…The debt and accrued interest will be convertible at any time during the term at fixed conversion prices:  50% of the principal and accrued interest will be convertible at $0.25 per share, 25% of the principal and accrued interest will be convertible at $0.50 per share and 25% of the principal and accrued interest will be convertible at $1.00 per share.”

Recent action has seen 72% added to share values of the company over the past month of action, a rally that has pushed up against longer standing distributive pressure in the stock.

However, NWBO is a stock who’s past is littered with sudden rips. What’s more, the name has seen interest climb, with an increase in recent trading volume of 69% above the average volume levels in play in this stock over the longer term.

At this time, carrying a capital value in the market of $70.9M, NWBO has a stash ($2.2M) of cash on the books, which compares with about $30.5M in total current liabilities. One should also note that debt has been growing over recent quarters. NWBO is pulling in trailing 12-month revenues of $455K. However, the company is seeing declines on the top line on a quarterly y/y basis, with revenues falling at -71.2%. We will update the story again soon as developments transpire. For continuing coverage on shares of $NWBO stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

Disclosure: we hold no position in $NWBO, either long or short, and we have not been compensated for this article.

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