Here are the 10-K annual reports from Northwest Biothrputcs Inc (NWBO) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow NWBO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NWBO filings page.
Northwest Biotherapeutics files its 2025 annual report, highlighting progress on its cancer immunotherapy platform and significant ongoing risks. The company’s lead product, DCVax-L for glioblastoma, completed a 331-patient Phase III trial and has a Marketing Authorization Application under review in the U.K. A 40-patient Phase I trial of DCVax-Direct for inoperable tumors is complete, with Phase II planning tied to available resources.
The company expanded sharply, ending 2025 with 105 full-time employees after acquiring UK manufacturer Advent BioServices and focusing production at its Sawston facility. Auditors again issued a going concern opinion, reflecting continued losses and heavy funding needs. Management emphasizes substantial additional capital will be required, continued dilution is likely, and competition in oncology and cell therapy remains intense.