Expert Financial Analysis and Reporting

Reason for Stock Weakness The stock of Northwest Biotherapeutics (NWBO) has been under pressure that appears largely to have been caused by two recent, scathing articles in The Street.com written by Adam Feuerstein. F-stein has been recommending shorting the stock for over a year and had previously written two other articles that also caused stock […]

Adam Feuerstein has consistently disagreed with authors who believe that there is a sound basis for Northwest Biotherapeutics (NWBO) conducting a phase III trial of DCVax-L in glioblastoma; I am one of those authors. I have never maintained that the trial will unquestionably succeed. I acknowledge that phase III trials conducted by both large and […]

Key Takeaway Points of this Report Northwest (NWBO) restructured much of its debt in 4Q, 2012 and also has raised significant amounts of capital with four equity offerings over the last year that brought in $62 million. In part, because of the weak cash position, it had to issue warrants with each of these deals […]

Investment Thesis This report is an update based on a number of recent events. I discuss encouraging long term survival results for DC Vax-L that is unprecedented in glioblastoma multiforme. I also go over the phase III trial progress for DC Vax-L and the compassionate use program that will proceed abreast of the phase III […]

Adam Feuerstein of The Street.com and I crossed swords after I wrote an article in response to a very negative and stridently worded blog that he posted on Northwest Biotherapeutics (NWBO). I disagreed with his analysis (a one or two page blog) that accused the company of purposely deceiving investors and felt that it should not go unchallenged. I wrote a response that was published on Seeking and my website. Mr. Feurstein promptly responded with another blog called Why Seeking Alpha’s Larry Smith Is Wrong Again About Northwest Bio.

Purpose of this Report I have undertaken a point by point examination of a negative blog on Northwest Biotherapeutics (NWBO) by Adam Feuerstein of The Street.Com. I ordinarily don’t respond to comments that other bloggers make on companies. However, in this case Mr. Feuerstein accused the company of purposely deceiving investors on the results of […]

Investment Update In my July 19, 2012 report Northwest Biotherapeutics’ DCVax Cancer Vaccines May Be a Game Changer in Cancer Therapy, I recommended purchase of Northwest Biotherapeutics (NWBO). I felt that the company represented an asymmetric investment opportunity for investors willing to risk losing much or even all of their investment for a chance to […]

Investment Summary Northwest Biotherapeutics’ (NWBOD) stock price increased 94% on Friday, September 28 to $10.95 per share and investors are asking what happened. There was certainly a short squeeze on Friday, but I don’t think that was the sole reason. Northwest has traded under $1.00 for a very long time and this has prevented many […]

Investment Perspective I think that some investors are incorrectly viewing the investment outlook for Northwest Biotherapeutics and ImmunoCellular Technologies (IMUC.OB). Both companies are developing dendritic cell vaccines for glioblastoma multiforme, the deadliest form of primary brain cancer; NWBOD’s product is called DCVax-L and IMUC’s is ICT-107. Some investors have portrayed this as a winner take […]

Northwest Biotherapeutics’ DC Vax Cancer Vaccine May Be a Game Changer In Cancer Therapy Report Outline Investment Thesis and Opinion Introduction Phase I Trial Results for DCVax-L were Impressive Manufacturing Process is Superior to that of Provenge Fraunhofer and King’s College Collaborations Put Me over the Top An Asymmetric Investment Opportunity There Are Significant Negatives […]