It’s important to take note of the fact that Northwest Biotherapeutics, Inc (OTCMKTS:NWBO) just announced that its CEO, Linda Powers, will discuss the projected schedule for reaching data lock, unblinding and reporting of top line data from its 331-patient Phase 3 trial of DCVax-L for Glioblastoma brain cancer at the Company’s 2019 Annual Meeting.
According to the release, the Meeting is being held virtually due to the current public health crisis. the company has been working since last year with the contract research organization (CRO) that managed the trial and numerous independent service companies to make the final in-person monitoring visits to all the clinical trial sites (hospitals) across the US and Europe, and to finish collecting and confirming the Phase 3 trial data and resolving queries.
Northwest Biotherapeutics, Inc (OTCMKTS:NWBO) trumpets itself as a biotechnology company that discovers and develops personalized immune therapies for cancer in the United States and internationally.
The company develops its products based on DCVax, a platform technology that uses activated dendritic cells to mobilize a patient’s own immune system to attack cancer.
It is developing DCVax-L, a product in Phase III clinical trials to treat Glioblastome multiforme, a brain cancer; and DCVax-Direct, a product in Phase I/II clinical trials to treat various types of inoperable solid tumor cancers. The company was founded in 1996 and is headquartered in Bethesda, Maryland.
According to company materials, “Northwest Biotherapeutics is a biotechnology company focused on developing personalized immunotherapy products designed to treat cancers more effectively than current treatments, without toxicities of the kind associated with chemotherapies, and on a cost-effective basis, in both North America and Europe. The Company has a broad platform technology for DCVax dendritic cell-based vaccines. 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 Company is also pursuing a Phase I/II trial with DCVax-Direct for all types of inoperable solid tumor cancers. It has completed the 40-patient Phase I portion of the trial, and is preparing for the Phase II portion. The Company previously conducted a Phase I/II trial with DCVax-L for metastatic ovarian cancer together with the University of Pennsylvania.”
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As noted above, NWBO just announced that its CEO, Linda Powers, will discuss the projected schedule for reaching data lock, unblinding and reporting of top line data from its 331-patient Phase 3 trial of DCVax-L for Glioblastoma brain cancer at the Company’s 2019 Annual Meeting.
Recent action has seen 95% added to share values of the company over the past week of action. Moreover, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running exceeding 130% beyond what we have been seeing over the larger time frame.
According to the company’s release, despite nearly two months (during March and April to date) in which hospital trial sites stopped allowing in-person data monitoring visits and became too overwhelmed to continue helping with data confirmation, the Company’s data collection and confirmation process has continued moving forward in part through workarounds.
Earning a current market cap value of $229M, NWBO has a chunk ($372K) of cash on the books, which compares with about $41.2M in total current liabilities. NWBO is pulling in trailing 12-month revenues of $2.4M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 98%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $NWBO stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $NWBO, either long or short, and we have not been compensated for this article.