Expert Financial Analysis and Reporting

Curses, Foiled Again; The Hedge Fund’s Lament The clear intent of the recent short attack on Northwest was at a minimum to force the Company into a financing at depressed prices. I have seen this strategy successfully implemented many times in the past against companies in similar situations. Here’s how it works. The Company desperately […]

A Suspect Plunge in Price On Friday October 16, 2015 a day in which the Dow Jones and S&P averages increased 0.4% and 0.5% and the Biotechnology Index was flat, Northwest Biotherapeutics’ stock plummeted 30%. The stock opened at $5.97, traded up to $6.06, then crashed to an intraday low of $3.82 and closed at […]

Critical Issue in Interpreting the Data Northwest just recently presented length of survival data for 39 patients evaluated in its phase 1 trial of DCVax Direct. . These patients were suffering from 13 different y types of solid tumors. The common characteristic was they were in the terminal phase of their disease and their tumors […]

Key Investment Points Stemming from ASCO I have been going over data presented at ASCO on immune-oncology products and have been listening carefully to the presentations by Northwest Biotherapeutics and other companies active in this space, particularly Bristol-Myers Squibb and Merck. Let me summarize some of my key takeaways which will be addressed in more […]

Overview An FDA advisory panel on April 30 recommended by a vote of 22 to 1 that Amgen’s cancer vaccine talimogene laherparepvec be approved for the treatment of later stages of inoperable metastatic melanoma. The final decision will be made by the FDA, but it would be very surprising for the FDA to go against […]

Introduction I have included an abstract on DCVax Direct and another on DCVax-L that will be presented in poster presentations at the American Association of Cancer Research (AACR) meeting during April 18 to April 22. I have included the entire abstract for your review DCVax Direct Poster This poster dealt with the phase 1 trial […]

The $40 million will fund the Company through the end of 2015. CEO Linda Powers indicates that this is the cornerstone of the Company’s financing plans. I am speculating that there will be as much as $60 million more capital raised this year that will take the Company well past topline DCVax-L data in 2016. […]

Executive Summary Northwest Biotherapeutics has just presented data on 51 patients whom investigators originally intended to enroll in the ongoing, critically important, 348 patients phase 3 trial of DCVax-L in newly diagnosed glioblastoma multiforme. They became ineligible when their cancer progressed before they could enter the trial. However, they were treated nearly identically to the […]

Introduction Northwest Biotherapeutics just issued their 10-K for 2014 and I would urge everyone to read it. The purpose of this note is to point out what I consider to be interesting pieces of information gleaned from the 10-K. Once a year, each Company publishes a 10-K and I think of the document as a […]

There has been a lot of speculation about how much it costs to manufacture one course of individualized therapy of DCVax-L. In its manufacturing process, autologous living cells are removed from the patient’s body, manipulated ex vivo and then injected back into the body. This may take seven to eight days, has a number of […]