Thu, May 15, 8:29 PM (36 days ago)
**Northwest Biotherapeutics, Inc. (NWBO) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** $375,000 (up from $284,000 in Q1 2024). - **Net Loss:** $19.3 million (up from $18.3 million in Q1 2024). - **Operating Costs:** $17.7 million (up from $16.0 million in Q1 2024). - **Cash Flow:** Net cash used in operating activities was $9.4 million (down from $12.4 million in Q1 2024). - **Cash Position:** $2.8 million (up from $2.2 million in Q1 2024). **Profit Margins:** - **Operating Margin:** -51.8% (down from -56.1% in Q1 2024). - **Net Margin:** -51.5% (down from -64.5% in Q1 2024). **Earnings Changes:** - **Research and Development (R&D) Expenses:** $8.4 million (up from $7.9 million in Q1 2024). - **General and Administrative Expenses:** $9.3 million (up from $8.1 million in Q1 2024). **Quarterly Performance Discussion:** - **Revenue Growth:** The increase in revenue was primarily due to higher research and other income. - **Operating Costs:** The increase in operating costs was mainly due to higher R&D expenses related to the MAA application and the resumption of DCVax-Direct production. - **Cash Flow:** The decrease in cash used in operating activities was primarily attributable to lower payments for clinical trial-related expenditures, insurance costs, and certain consulting expenditures. **Trends and Uncertainties:** - **Funding:** The company continues to rely on debt and equity financing to cover operating expenses. - **Regulatory:** The MAA application for DCVax-L is under review, and the company plans to announce the results once the regulatory process is complete. - **Manufacturing:** The company is proceeding with detailed planning for buildout and equipping of the simplified C lab in the Sawston, UK facility. - **Legal:** The company is vigorously pursuing its lawsuit against certain market makers and continues to expand its compassionate use programs. **Future Operations Impact:** - **Clinical Trials:** The company plans to conduct clinical trials of DCVax-L for other solid tumor cancers and prepare for Phase II trials of DCVax-Direct. - **Manufacturing:** The company is continuing discussions with GMP facilities in the US to obtain capacity and availability for potential manufacturing. - **Funding:** The company will need to secure additional equity and/or debt financing to continue operations and fund future clinical trials and manufacturing scale-up.