NW Bio Releases Voting Results From Annual Shareholders' Meeting

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Feb 08, 2019, 08:25 ET

BETHESDA, Md., Feb. 8, 2019 /PRNewswire/ -- Northwest Biotherapeutics (OTCQB: NWBO) — ("NW Bio"), a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, today released the final voting results from the Annual Shareholder Meeting held on February 2, 2019.

Votes were cast by 460,778,696 (88.7%) of the total 519,729,780 shares that were issued and outstanding on the record date of December 13, 2018, and as such were eligible to vote.

The shareholders voted on three matters: (1) the re-elections of Ms. Linda F. Powers and Dr. Navid Malik as Class III members of the Board of Directors for 3-year terms, (2) the re-appointment of Marcum LLP as the Company's auditors for 2019, and (3) the approval of stock option awards to the independent members of the Board of Directors.

The results of the voting and the percentages of the votes cast were as follows:

Re-Election of Directors

Ms. Linda Powers, the Company's CEO and Chairman, received 306,263,568 (87.6%) positive votes and 43,387,121 (12.4%) withheld votes, re-electing her to an additional 3-year term as a Class III Director.

Dr. Navid Malik, an independent Director, received 308,628,713 (88.3%) positive votes and 41,021,976 (11.7%) withheld votes, re-electing him to an additional 3-year term as a Class III Director.

Re-Appointment of Auditors

Marcum LLP, the Company's current independent registered public accounting firm, received 448,166,574 (97.3%) positive votes, 7,482,262 (1.6%) votes against, and 5,129,860 (1.1%) abstentions, re-appointing them for calendar year 2019.

Independent Directors' Options

The stock option awards to the independent Directors received 303,798,949 (86.9%) positive votes, 39,782,381 (11.4%) votes against, and 6,069,359 (1.7%) abstentions, approving the options.

About Northwest Biotherapeutics

Northwest Biotherapeutics is a biotechnology company focused on developing personalized immunotherapy products designed to treat cancers more effectively than current treatments, without toxicities of the kind associated with chemotherapies, and on a cost-effective basis. The Company has broad platform technologies for DCVax® dendritic cell-based vaccines. The Company's lead program is a 331-patient Phase III trial of DCVax®-L for newly diagnosed Glioblastoma multiforme (GBM). GBM is the most aggressive and lethal form of brain cancer, and is an "orphan disease." The Company is also pursuing a Phase I/II trial with DCVax®-Direct for all types of inoperable solid tumor cancers. It has completed the 40-patient Phase I portion of the trial, and is preparing for Phase II portions. The Company previously conducted a Phase I/II trial with DCVax®-L for metastatic ovarian cancer together with the University of Pennsylvania.

Disclaimer

Statements made in this news release that are not historical facts, including statements concerning future treatment of patients using DCVax and future clinical trials, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "believe," "intend," "design," "plan," "continue," "may," "will," "anticipate," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We cannot guarantee that we will achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results may differ materially from those projected in any forward-looking statements. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated, such as risks related to the Company's ability to complete its clinical trials on a timely basis, uncertainties about the clinical trial results and data, uncertainties about the timely performance of third parties, risks related to whether the Company's products will demonstrate safety and efficacy, risks related to the Company's ongoing ability to raise additional capital, and other risks included in the Company's Securities and Exchange Commission ("SEC") filings. Additional information on the foregoing risk factors and other factors, including Risk Factors, which could affect the Company's results, is included in its 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 from those projected in any forward-looking statement. 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.

SOURCE Northwest Biotherapeutics