Northwest Biotherapeutics Files Q3 2024 10-Q

TL;DR

NWBO filed its Q3 10-Q. Financials are in. Check for cash burn.

AI Summary

Northwest Biotherapeutics Inc. reported its Q3 2024 results on November 12, 2024. The company's financial statements for the period ending September 30, 2024, are detailed in this 10-Q filing. Key financial data and operational updates are provided, though specific revenue or loss figures for the quarter are not immediately apparent in the provided snippet.

Why It Matters

This filing provides crucial financial and operational insights into Northwest Biotherapeutics' performance for the third quarter of 2024, impacting investor understanding of the company's current standing.

Risk Assessment

Risk Level: medium — Biotech companies often face high risks due to R&D costs, regulatory hurdles, and market volatility, and this filing pertains to such a company.

Key Numbers

• 550000 — Research and Other Revenue (This figure represents revenue from research and other activities for a specific period, likely a quarter or year-to-date.)
• 736000 — Research and Other Revenue (This figure represents research and other revenue for a different period, possibly a comparative period to the 550,000 figure.)
• 400000 — Placement Agent Warrant Value (This likely relates to the value of warrants issued to a placement agent, a common component in financing activities.)

Key Players & Entities

• NORTHWEST BIOTHERAPEUTICS INC (company) — Filer
• 20240930 (date) — Reporting period end date
• 20241112 (date) — Filing date
• 0001072379 (company) — Central Index Key
• 2834 (industry_code) — Standard Industrial Classification (Pharmaceutical Preparations)
• DE (state) — State of Incorporation
• 1231 (date) — Fiscal Year End
• 001-35737 (company) — SEC File Number
• BETHESDA (city) — Business Address City
• MD (state) — Business Address State

FAQ

Key Financial Figures

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

Filing Documents

• nwbo-20240930x10q.htm (10-Q) — 2347KB
• nwbo-20240930xex31d1.htm (EX-31.1) — 12KB
• nwbo-20240930xex32d1.htm (EX-32.1) — 9KB
• 0001410578-24-001879.txt ( ) — 10623KB
• nwbo-20240930.xsd (EX-101.SCH) — 78KB
• nwbo-20240930_cal.xml (EX-101.CAL) — 58KB
• nwbo-20240930_def.xml (EX-101.DEF) — 341KB
• nwbo-20240930_lab.xml (EX-101.LAB) — 541KB
• nwbo-20240930_pre.xml (EX-101.PRE) — 471KB
• nwbo-20240930x10q_htm.xml (XML) — 2204KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 3 Item 1. Condensed Consolidated Interim Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Deficit for the three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 9 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 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34

- OTHER INFORMATION

PART II - OTHER INFORMATION 35 Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 3. Defaults Upon Senior Securities 36 Item 4. Mine Safety Disclosures 36 Item 5. Other Information 36 Item 6. Exhibits 37

SIGNATURES

SIGNATURES 38 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) September 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,939 $ 2,126 Prepaid expenses and other current assets 2,253 1,999 Total current assets 5,192 4,125 Non-current assets: Property, plant and equipment, net 17,322 17,278 Right-of-use asset, net 4,515 4,183 Indefinite-lived intangible asset 1,292 1,292 Goodwill 626 626 Other assets 374 361 Total non-current assets 24,129 23,740 TOTAL ASSETS $ 29,321 $ 27,865 LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued expenses $ 17,913 $ 10,244 Accounts payable and accrued expenses to related parties and affiliates 3,043 3,544 Convertible notes, net 1,825 3,765 Convertible notes at fair value 19,380 12,771 Notes payable, net 7,577 3,944 Contingent payable derivative liability 9,193 9,188 Warrant liability — 944 Investor advances 207 7 Share payable 170 483 Lease liabilities 256 314 Total current liabilities 59,564 45,204 Non-current liabilities: Convertible notes at fair value, net of current portion 3,774 — Notes payable, net of current portion, net 20,695 20,312 Lease liabilities, net of current portion 4,828 4,454 Contingent payment obligation 4,700 4,950 Total non-current liabilities 33,997 29,716 Total liabilities 93,561 74,920 COMMITMENTS AND CONTINGENCIES (Note 12) Mezzanine equity: Series C Convertible Preferred Stock, 10,000,000 shares designated; 1.0 million and 1.2 million shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively; aggregate liquidation preference of $ 14.2 million 15,877 18,718 Stockholders' deficit: Preferr