BOTHELL, Wash., June 28 /PRNewswire-FirstCall/ -- Northwest Biotherapeutics, Inc. today announced that it has been advised by NASDAQ that, starting today, June 28, 2008, its shares of common stock will trade under the symbol NWBO with a CUSIP number 6637P501 and will reflect the effect of the one-for fifteen reverse stock split which was previously announced and took effect on June 19, 2007.
As a result of the reverse stock split, every 15 shares of Northwest Biotherapeutics’ common stock were combined into one common share. No scrip or fractional certificates will be issued in connection with the reverse stock split. Stockholders who would be entitled to fractional shares will receive cash in lieu of receiving fractional shares. The reverse stock split resulted in similar adjustments to Northwest Biotherapeutics’ outstanding common stock options and warrants and shares of common stock reserved for issuance pursuant to its current equity plans.
Registered stockholders of Northwest Biotherapeutics who hold existing physical stock certificates will receive a letter of transmittal from Northwest Biotherapeutics’ transfer agent, Mellon Investor Services, containing instructions on how to receive new share certificates. Stockholders whose certificates are held in “street name,” or on deposit with their brokerage firms, will need to take no further action.
About Northwest Biotherapeutics
Northwest Biotherapeutics is a biotechnology company focused on developing immunotherapy products that treat cancers more effectively than current treatments, without toxicity, on a cost-effective basis. The Company has two broad platform technologies: dendritic cell-based vaccines, and therapeutic antibodies. The Company’s three lead product candidates are:
-- DCVax(R)-Brain, a personalized dendritic cell vaccine for treatment of Glioblastoma multiforme, which has entered into a large Phase II pivotal clinical trial cleared by the FDA; -- DCVax(R)-Prostate, a personalized dendritic cell vaccine for treatment of hormone independent non-metastatic prostate cancer, which is ready to enter a Phase III pivotal clinical trial cleared by the FDA; and -- Monoclonal antibodies to CXCR4, which are in late pre-clinical development for the treatment of multiple cancers.
For further information, please visit the company web site at http://www.nwbio.com.
Statements made in this news release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “believes,” “intends,” and similar expressions are intended to identify forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Additional information on 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 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.
Northwest Biotherapeutics, Inc.
CONTACT: Lorie Calvo of Northwest Biotherapeutics, Inc., +1-425-608-3008
Web site: http://www.nwbio.com/
