Expert Financial Analysis and Reporting

Purpose of this Report I last summarized my stock recommendations in a September 12, 2016 report. There has been little change in my thinking or my recommendations since then on most stocks in my universe, but I did issue a Buy on Bristol-Myers Squibb and a sell on Juno Therapeutics. You may want to revisit […]

Principal Takeaway Messages  from This Report Dr. Linda Liau believes that use of DCVax-L can result in 25% of glioblastoma patients living four years or longer. This therapeutic effect is comparable to that seen with the checkpoint inhibitors Opdivo and Keytruda in certain refractory solid tumors and in her opinion should result in approval. She […]

NWBO is preparing for the start of a phase 2 trial combining DCVax-L with Merck’s Keytruda in late stage colorectal cancer with liver metastases. This note is just my first impression of the announcement and I need to do much more work on the design of the trial and timelines, but I wanted to give my initial […]

Key Points: Data for DCVax Direct recently was updated for its phase 1/2 trial in 40 patients having 13 different types of inoperable solid tumors. A scientific paper showed that the top 12 patients (30%) experienced overall survival of 22 months or longer. This was an open label trial without a control group as is […]

Investment Thesis I have been pretty much silent on Northwest Biotherapeutics for some time. The reason is that as an analyst I can only interpret data and news flow and there has been nothing to interpret. The stock is selling at $0.34 down 95% from one year ago. The downward move is extreme but significant […]

Overview The naming of five distinguished scientists with extensive knowledge and expertise in immune-oncology to Northwest’s scientific advisory board is the first of what I hope will be a number of steps that Northwest will take to fight back against a massive short selling attack on the Company. This has destroyed the stock price and […]

Report Overview I usually start my reports with a summary and investment thesis. However, in this report I am putting this section at the end of the report. Northwest issued a press release on May 3 that gave an important operational update on the Company. The press release makes six distinct comments and in this report […]

Perspective and Overview on this Report The still unexplained and unresolved halt in screening for the phase 3 trial of DCVax-L in newly diagnosed glioblastoma multiforme has been a nightmare for the Company and its investors. It seems that almost everything has ground to a halt in the last six months as Northwest awaits guidance […]

Investment Thesis Some subscribers have asked me if the failure of Rintega in the phase 3 ACT-IV trial in newly diagnosed glioblastoma has any implications for success or failure of DCVax-L in its phase 3 trial in newly diagnosed glioblastoma. This note explains why I believe there are no negative or positive implications. Subscribers have […]

Seeking Alpha has published an extremely negative article by anonymous short sellers that alleges criminal misconduct on the part of management and predicts bankruptcy for NWBO. I wrote a comment on the article which I include below. The editors of Seeking Alpha have taken down my comments in the past and I think that they could […]