Today there is more action in many of the high flying technology stocks on the Nasdaq, but on the US OTC market shares of Northwest Biotherapeutics, Inc. (OTCMKTS: NWBO) are soaring in morning trading going in to the noon hour. The stock is up over 27% so far today to be one of the most actively traded stocks on the US OTC exchange.
Most stocks that trade on the US OTC exchange have very tiny market caps, buts Northwest Biotherapeutics, Inc. (OTCMKTS: NWBO) has a market cap of over $300 million. So this is a stock seeing a lot of dollar volume in it today. Northwest Biotherapeutics is a development-stage American pharmaceutical company headquartered in Maryland that focuses on developing immunotherapies against different types of cancer. Yesterday it put out a press release announcing the purchase of Flaskworks, a company that it says “has developed a breakthrough system to close and automate the manufacturing of cell therapy products such as DCVax®.”
“The acquisition of Flaskworks was executed and closed on August 28, 2020. The total purchase price was approximately $4.33 million, of which $1.65 million was paid in cash at closing, up to $2.01 million will be paid in stock subject to milestone-based vesting, and $0.67 million will be paid in either cash or stock, or a combination thereof, within 120 days after the closing,” reads the press release.
This news has driven a frenzy of interest among many stock traders on twitter as you can see from these sample tweets:
$NWBO Great news last week. Another great news today. Stock closed up 16%. What’s next? A JV/partnership agreement with a big pharma? Everything is possible for a company developing a vaccin to cure GBM & other cancers.— JF Ruel (@jfruel1962) September 2, 2020
Up $400+ on the day thanks to $AAPL, $VRM, $PASO, and holding $NWBO overnight looking for that first G day push.. Went for a ride on $PASO all day but caught the late day— Peter (@FrislidT) September 1, 2020
meat of the move sold into strength at .098 and let $ on the table. It’s ok. Nailing setups.@timothysykes
Notice this last tweet mentions PASO. This is also a stock I wrote about yesterday in a post. I do not own PASO or NWBO and neither does Mike Swanson who is the head editor of this website and the author of the book Strategic Stock Trading. You can get his free stock alerts and ideas by joining his update list. To do that click here.