Northwest Biotherapeutics, Inc (OTCMKTS:NWBO) went down hard early 2016 and has been fighting for its life ever since. The company has a clinical trial ongoing for its brain cancer therapy and has basically been through the works regarding share price.
Since March, NWBO’s price began a steady decline before falling down in March 17th due to an announcement that the Company will sell approximately 28.8 million shares of common stock at a purchase price of $0.26 per share, or pre-funded warrants in lieu of shares. The company is now carrying a $35.01M marketcap with 191.80 million shares outstanding.
Northwest Biotherapeutics, Inc (OTCMKTS:NWBO) has been on the wrong end of a clinical hold for some time and they are working to keep things afloat. NWBO has a broad platform technology for DCVax dendritic cell-based vaccines. The company has a study ongoing that should reach the overall survival count of 233 next month. The market has flushed NWBO down the drain and its flagship vaccine is far from a loser, even though the trial has not gone smoothly.
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The Company’s lead program is a 331-patient Phase III trial in newly diagnosed Glioblastoma multiforme (GBM). GBM is the most aggressive and lethal form of brain cancer, and is an “orphan disease.” The trial is underway at over 60 locations in the United States, Germany and the UK.
NWBO is also pursuing a Phase I/II trial with DCVax-L for late stage ovarian cancer together with the University of Pennsylvania. On February 6, a long-awaited bit of good news was received as the partial clinical hold on the Trial was lifted by the FDA. Another product they offer is DCVAX-Direct which is currently in a 60-patient Phase I/II trial for direct injection into all types of inoperable solid tumor cancers. Trials are currently being conducted at both MD Anderson Cancer Center in Texas, as well as Orlando Health in Florida.
Dr. Marnix L. Bosch, MBA, PhD and Chief Technical Officer of NWBO, offered an update earlier this month but regardless the company cannot analyze any results because the trial was blind and the survival number has not been reached. Until the number crosses 233, the analysis is speculative.
Northwest Biotherapeutics, Inc (OTCMKTS:NWBO) is a biotech stock that has modeled what a true nosedive looks like in this sector. That said, the company still has value and if the vaccine is not a pretender then the price will soar. Of course, that is a big “if” and potential investors will need to really be reading the tea leaves carefully throughout the summer. However, don’t totally believe the market’s analysis that this stock is dead because there is still hope yet for NWBO, even if it’s slim. For continuing coverage on shares of $NWBO, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!