This year started off fairly steady as NWBO was in rally mode until mid January, then pulled back before another brief uptick at the start of February. The price began a steady decline before gapping down on 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). Ouch.
From there on it has been nothing but South for the biotechnology company, dumping heavily at the end of April and reaching a low of 14 cents on April 25th. This was followed by a brief surge the following day, but this turned out to be fleeting as the market cap continued to get whittled away with another descent for most of May before finally making one last ascent, closing above the 50 day moving average on the 30 May but failing the backtest the following day and dashing the hopes of investors.
Northwest Biotherapeutics, Inc (OTC:NWBO) is a biotechnology company focused on developing personalized immunotherapy products designed to treat cancers more effectively than current treatments and without the side effects of chemotherapy drugs in both the United States and Europe.The proprietary manufacturing technology they use enables them to produce its personalized vaccine in an efficient, cost-effective manner. 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 trial is underway at over 60 locations in the United States, Germany and the UK. The Company 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. They announced that the Trial has accumulated a sufficient number of events toward the progression-free survival (“PFS”) endpoint but not yet for the overall survival (“OS”) endpoint. 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.