BETHESDA, Md., Dec. 19, 2016 /PRNewswire/ -- Northwest Biotherapeutics (Nasdaq: NWBO) ("NW Bio" or the "Company"), a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, today announced that its common stock will begin trading on the OTC Market Group's OTCQB marketplace effective at the open of the market on Monday, December 19, 2016. The Trading symbol will remain NWBO.
As of this morning, the Company's common stock is no longer traded on Nasdaq. The Company has filed a Form 25 with the Securities and Exchange Commission this morning relating to its voluntary withdrawal from Nasdaq. The Company's application to trade on the OTCQB Venture Market (the "OTCQB") has been approved by OTCQB, and the Company's common stock will be traded on the OTCQB starting this morning.
As previously announced, the Company is seeking to move forward with multiple clinical programs, involving both DCVax-L and DCVax-Direct. The Company is pursuing completion of the current Phase III trial of DCVax-L for Glioblastoma multiforme brain cancer as well as pursuing Phase II combination trials of DCVax-L and checkpoint inhibitor drugs, including the Phase II trial of DCVax-L and Pembrolizumab (Keytruda) for colon cancer that was previously announced. The Company is also pursuing multiple Phase II trials with DCVax-Direct for inoperable tumors, building upon the encouraging ongoing data from the Phase I trial, which included patients with 13 different types of cancers. The Company looks forward to pursuing these programs while on the OTCQB.
About Northwest Biotherapeutics
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 348-patient Phase III trial in newly diagnosed Glioblastoma multiforme (GBM), which is on a partial clinical hold in regard to new screening of patients. GBM is the most aggressive and lethal form of brain cancer, and is an "orphan disease." The Company is under way with a Phase I/II trial with DCVax-Direct for all types of inoperable solid tumor cancers. It has completed enrollment in the 40-patient Phase I portion of the trial. The Company previously conducted a Phase I/II trial with DCVax-L for metastatic ovarian cancer together with the University of Pennsylvania.
Statements made in this news release that are not historical facts, including statements concerning future treatment of patients using DCVax and future clinical trials, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "believe," "intend," "design," "plan," "continue," "may," "will," "anticipate," 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 risks and uncertainties related to the actions and decisions of Nasdaq, the Company's ability to transition trading of its common stock to OTCQB, risks related to the Company's ongoing ability to raise additional capital, risks relating to the Company's outstanding convertible notes and its ability to repurchase such notes if required, risks relating to any other contracts or securities of the Company affected by the Company's move from Nasdaq to the OTC, risks related to the Company's ability to enroll patients in its clinical trials and complete the trials on a timely basis, uncertainties about the clinical trials process, uncertainties about the timely performance of third parties, risks related to whether the Company's products will demonstrate safety and efficacy, risks relating to the Company's relationship with Cognate, risks related to the Company's and Cognate's abilities to carry out the intended manufacturing and expansions contemplated in the Cognate Agreements. Additional information on these and other factors, including Risk Factors, which could affect the Company's results, is included in its Securities and Exchange Commission ("SEC") filings. Finally, there may be other factors not mentioned above or included in the Company's SEC filings 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.
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SOURCE Northwest Biotherapeutics