Northwest Biotherapeutics Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Northwest Biotherapeutics Inc. filed its Q1 2024 10-Q report, detailing financial positions and activities.</b>

AI Summary

NORTHWEST BIOTHERAPEUTICS INC (NWBO) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Northwest Biotherapeutics Inc. filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on December 31st. The filing is from the period of 2024 Q1. The company's principal executive offices are located in Bethesda, MD. The filing includes data related to Series C Convertible Preferred Stock and Subscription Agreements.

Why It Matters

For investors and stakeholders tracking NORTHWEST BIOTHERAPEUTICS INC, this filing contains several important signals. This 10-Q filing provides an updated view of the company's financial health and operational status for the first quarter of 2024. Investors and stakeholders can use this report to assess the company's performance, identify potential risks, and make informed decisions regarding their investments.

Risk Assessment

Risk Level: medium — NORTHWEST BIOTHERAPEUTICS INC shows moderate risk based on this filing. The company's financial disclosures are extensive, indicating a need for careful review of its financial health and operational risks, particularly concerning its convertible preferred stock and subscription agreements.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-Q to understand the company's current financial standing and future prospects.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-10 — Filing Date (FILED AS OF DATE)
• 1231 — Fiscal Year End (FISCAL YEAR END)
• 2024 Q1 — Filing Quarter (FILING VALUES)

Key Players & Entities

• NORTHWEST BIOTHERAPEUTICS INC (company) — FILER
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-10 (date) — FILED AS OF DATE
• BETHESDA (location) — CITY
• MD (location) — STATE
• 20814 (postal_code) — ZIP
• 2834 (industry_code) — STANDARD INDUSTRIAL CLASSIFICATION
• 0001072379 (company_id) — CENTRAL INDEX KEY

FAQ

Industry Context

Northwest Biotherapeutics Inc. operates in the pharmaceutical preparations industry, focusing on the development of biological therapies.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the company's financial statements for the first quarter of 2024.
2. Review any disclosed risk factors or subsequent events mentioned in the filing.
3. Monitor future filings for updates on the company's progress and financial performance.

Key Dates

• 2024-03-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the first quarter of 2024, providing an update from previous filings.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share NWBO OTCQB As of May 6,

Filing Documents

• nwbo-20240331x10q.htm (10-Q) — 1801KB
• nwbo-20240331xex31d1.htm (EX-31.1) — 13KB
• nwbo-20240331xex32d1.htm (EX-32.1) — 9KB
• 0001410578-24-000741.txt (&nbsp;) — 9408KB
• nwbo-20240331.xsd (EX-101.SCH) — 71KB
• nwbo-20240331_cal.xml (EX-101.CAL) — 55KB
• nwbo-20240331_def.xml (EX-101.DEF) — 345KB
• nwbo-20240331_lab.xml (EX-101.LAB) — 498KB
• nwbo-20240331_pre.xml (EX-101.PRE) — 474KB
• nwbo-20240331x10q_htm.xml (XML) — 1907KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 3 Item 1. Condensed Consolidated Interim Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Deficit for the three months ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 28

- OTHER INFORMATION

PART II - OTHER INFORMATION 29 Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 30

SIGNATURES

SIGNATURES 31 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION NORTHWEST BIOTHERAPEUTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) March 31, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,478 $ 2,126 Prepaid expenses and other current assets 2,470 1,999 Total current assets 4,948 4,125 Non-current assets: Property, plant and equipment, net 17,268 17,278 Right-of-use asset, net 4,070 4,183 Indefinite-lived intangible asset 1,292 1,292 Goodwill 626 626 Other assets 363 361 Total non-current assets 23,619 23,740 TOTAL ASSETS $ 28,567 $ 27,865 LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued expenses $ 15,089 $ 10,244 Accounts payable and accrued expenses to related parties and affiliates 2,734 3,544 Convertible notes, net 5,612 3,765 Convertible notes at fair value 16,496 12,771 Notes payable, net 12,125 3,944 Contingent payable derivative liability 9,099 9,188 Warrant liability 913 944 Investor advances 7 7 Share liability 120 483 Lease liabilities 245 314 Total current liabilities 62,440 45,204 Non-current liabilities: Notes payable, net of current portion, net 10,215 20,312 Lease liabilities, net of current portion 4,384 4,454 Contingent payment obligation 5,000 4,950 Total non-current liabilities 19,599 29,716 Total liabilities 82,039 74,920 COMMITMENTS AND CONTINGENCIES (Note 12) Mezzanine equity: Series C Convertible Preferred Stock, 10,000,000 shares designated; 1.3 million and 1.2 million shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively; aggregate liquidation preference of $ 18.1 million 19,810 18,718 Stockholders' deficit: Preferred stock ( $ 0.001 par value); 100,000,000 shares authorized as of March 31