aibioNorthwest Biotherapeutics holders approve raising authorized shares to 2,600,000,000
Tickers NWBO
Common stock authorized rises from 1,700,000,000 to 2,600,000,000 shares. The company filed the amendment in Delaware on December 30, 2025.
Key facts
- Company
- Northwest Biotherapeutics, Inc. (OTC: NWBO)
- News type
- Listings
- Primary source
- Northwest Biotherapeutics, Inc. 8-K (2026-01-02)
Northwest Biotherapeutics, Inc. (NWBO) stockholders approved an amendment to the certificate of incorporation that raises authorized common stock from 1,700,000,000 shares to 2,600,000,000 shares, according to an 8-K filed on January 2, 2026. The vote took place at the annual meeting on December 29, 2025. The company filed the Certificate of Amendment with the Secretary of State of Delaware on December 30, 2025. The common stock trades as NWBO on the OTCQB, according to the 8-K cover page, and the filing was signed by Linda Powers, chief executive officer and chairman.
The vote
Common and preferred stockholders voted together as a single class on the increase, and each preferred share carried 25 votes. The increase received 1,056,740,073 votes for, 122,050,303 against and 13,696,969 abstentions. Broker non-votes totaled 280,993,355. Among votes cast, that is 89.65% for and 10.35% against.
The same meeting elected Pat Sarma to a new three-year term as a Class II director, with 739,207,750 votes for and 172,286,240 withheld. Holders ratified Cherry Bekaert LLP as the independent auditor for 2025, with 1,143,100,380 votes for and 38,271,749 against. The advisory vote on executive compensation drew the most opposition of the four items. It received 667,767,433 votes for, or 77.23%, and 196,915,765 against, or 22.77%.
What the increase allows
An authorized share count is a ceiling. Raising it issues no shares by itself, but it gives the company room to issue more common stock later. The 8-K does not say what the company plans to issue or why it asked for the larger count. It also does not disclose the company's cash, losses or financing plans, so the filing gives no basis for judging how soon that room might be used.
The company and its therapy
Northwest Biotherapeutics describes itself as a biotechnology company developing personalized immune therapies for cancer. Its lead candidate, DCVax-L, uses a patient's own dendritic cells loaded with antigens from the tumor. The company says it completed a 331-patient international Phase III trial of DCVax-L in glioblastoma, published the results in JAMA Oncology, and submitted a Marketing Authorization Application in the U.K. on December 20, 2023. The 2024 annual report, filed March 31, 2025, says the company plans to test DCVax-L in other solid tumors "when resources permit."
The second candidate, DCVax-Direct, is designed for inoperable solid tumors. The annual report describes a 40-patient Phase I trial as completed and says Phase II preparations proceed "as resources permit." The company holds 48 issued patents as of December 31, 2024, with 60 pending applications worldwide.
Manufacturing is a large part of the plan. The Sawston, U.K. facility has an initial capacity that the annual report calls "anticipated potential capacity" for about 40 to 45 patients a month, or approximately 450 to 500 patients a year. Advent BioServices operates the facility and holds a sub-lease on part of it. The company calls its Flaskworks closed-manufacturing system "a centerpiece of efforts toward scale-up for potential commercial operations." The annual report says the GMP-grade units still have to be qualified and validated, and that regulators must approve the system before it can make DCVax-L for patients.
The Sawston buildout is tied to a loan from the Cambridge development authority, which requires the facility to benefit the regional business ecosystem. The company expects its batch manufacturing to put pricing "in line with other new cancer drugs." That is the company's own projection, and the annual report gives no figure for it.