Northwest Bio says it is running out of cash
Northwest Biotherapeutics startled investors with the news that it has only $1.1 million of cash on hand--enough to fund operations through September. And assurances that the developer is in talks with a number of potential sources of funds needed to advance trials, pay off debt and fuel operations failed to reassure investors. Northwest Bio's shares lost half of their value. Northwest Bio is studying a brain tumor therapy in a clinical trial. The developer gained a million-dollar, six month loan from Toucan Partners.
--read the AFX story
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