NWBO Northwest Biotherapeutics Inc (QB)

On June 24, 2016, Northwest Biotherapeutics, Inc. (the “Company”) received a written notice (the “Notice”) from the Staff of The NASDAQ Stock Market LLC (“Nasdaq”) that the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2), as the minimum bid price of the Company’s common stock has been below $1.00 per share for 30 consecutive business days. The Notice has no immediate effect on the listing of the Company’s common stock, and its common stock will continue to trade on The Nasdaq Capital Market under the symbol “NWBO” at this time.

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 days, or until December 21, 2016, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for at least 10 consecutive business days during this 180-day period.

In the event the Company does not regain compliance by December 21, 2016, the Company may be eligible for an additional 180-day grace period if it meets the initial listing standards (with the exception of the bid price and market value of publicly held shares requirements) for The Nasdaq Capital Market, and provides written notice to Nasdaq of its intention to cure the deficiency during the second 180-day grace period, by effecting a reverse stock split, if necessary. If the Company does not regain compliance within the allotted compliance period(s), Nasdaq will provide notice that the Company’s common stock will be subject to delisting. At that time, the Company could request a hearing before a NASDAQ Listing Qualifications Panel (the “Panel”). The hearing request would automatically stay any suspension or delisting action until the issuance of the hearing decision and the expiration of any additional extension period granted by the Panel.

The Company intends to monitor the closing bid price of its common stock on an ongoing basis, and consider a range of available options to regain compliance with the share price listing standard. The Company could remedy the deficiency, either now or at a later date, through a reverse stock split. However, t he Company currently plans to regain compliance by focusing on progress in its operational programs.

The Company has been engaged in ongoing dialog with Nasdaq Staff and has submitted a remediation plan relating to certain stock issuances to Cognate BioServices, Inc. (“Cognate”) which the Nasdaq Staff had previously notified the Company did not comply with Nasdaq Listing Rules 5635(c) and (d). As the Company previously reported in a Current Report on Form 8-K filed on May 2, 2016, the Company received a letter from the Nasdaq Staff on April 26, 2016, about those stock issuances to Cognate. As of the date of this Current Report, the Company is engaged in an ongoing dialog with the Nasdaq Staff and Cognate regarding the structure and terms of the proposed remediation plan. Upon completion of this dialog and adoption of a resolution, the Company will make a further announcement.