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NW Bio 2012 Annual Report Shows Strong Progress And Enhancement Of Leadership Position
Date:4/8/2013

BETHESDA, Md., April 8, 2013 /PRNewswire/ -- Northwest Biotherapeutics (NASDAQ: NWBO) (NW Bio), a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, filed its annual report on Form 10K today, reporting its financial results for the year ended December 31, 2012.  The report also shows strong progress in all areas of the Company's operations, enhancing the Company's leadership position in immune therapies for cancer.

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Year End 2012 Financial Results  During the twelve months ended December 31, 2012, the company used $22.8 million in cash for operating activities, compared to $14.7 million in cash for operating activities during the twelve months ended December 31, 2011.  The Company incurred an overall net loss (cash and non-cash) of $67.3 million or $5.72 per share, as compared to a net loss of $32.8 million, or $5.58 per share, for the twelve months ended December 31, 2011.

The increase in net loss was primarily due to non-cash accounting charges (i.e., inducement expense for debt reduction, amortization of prior stock issuances, beneficial conversion charges and other accounting adjustments) as well as the increased number of clinical trial sites open and recruiting across the US in the Company's Phase III clinical trial of DCVax®-L for GBM brain cancer, and expansion of the trial preparations in Europe, as noted below. 

Review of 2012 Progress Demonstrates Leadership In Immune Therapy SpaceAs described more fully below, the Company's progress during 2012 included the following:

  • major regulatory milestones in 3 countries (US, UK and Germany);
  • substantial expansion of the Company's Phase III clinical trial activities with
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  • SOURCE Northwest Biotherapeutics
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