uncertainly till yesterday when it started to climb up again. NWBO added 6.05% to its stock price and its traded volume rose over 245 thousand shares.Looks like the company is trying hard to get out of the low trade, though it’s too soon for an uptrend to be registered.
Northwest Biotherapeutics is a development-stage biotechnology company focused on discovering, developing and commercializing immunotherapy products that generate and enhance immune system responses to treat cancer. Historical records show that in July the company used to trade at $1.35 per share, however, presently its trading range varies between $0.71 – $0.77.[BANNER]
The last news about Northwest was released on Nov 4 when the company reported it had received two grants of approximately $490 thousand under the Qualified Therapeutic Discovery Project Grants Program. However, the positive announcement couldn’t pump up the stock price.
Currently, there is no recent news about Northwest apart from their latest financial report, filed a few days ago. According to it, the company’s liabilities are 81 times higher than its total assets and the stockholders’ deficit totals over $22 thousand. As a development stage company Northwest has no revenues, though it has incurred a number of expenses as well as a net loss. Besides, the company has entered into a few loan agreements to support its business.
As of Nov 19, 2010 the company had approximately $0.5 million of cash on hand including the amounts granted under the Qualified Therapeutic Discovery Project Grants Program. However, Northwest has experienced recurring losses from operations and it has a working capital deficit of $19.6 million and a $208.1 million deficit accumulated during the development stage. Thus, the company will need to raise additional capital to support its operating activities.
The management claims that Northwest may raise additional funds by issuing more shares of common stock or securities convertible into shares of common stock. In that case the ownership interest of its stockholders will be diluted.
