Northwest Biotherapeutics (OTCQB: NWBO) 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 continues to build on the momentum that it created in the recent past with presentations of important and extremely enticing data in glioblastoma along with recent financial closure. Considering recent developments, analysts see promise in the company and believe it will provide a robust fundamental appeal to the investors as well as momentum players trading the stock.
Northwest Biotherapeutics updated blinded interim data from the Phase 3 trial of DCVax®-L for Glioblastoma brain cancer were presented by Dr. Linda Liau at the 23rd Annual Meeting of the Society for Neuro-Oncology. https://finance.yahoo.com/news/updated-interim-data-phase-3-150400728.html
- Updated Interim Data from Phase 3 Trial of DCVax®-L for Glioblastoma: DCVax-L is the company’s lead product for the treatment of newly diagnosed Glioblastoma. On November 19, 2018, the company provided updated blinded interim data from the Phase 3 trial of DCVax®-L for Glioblastoma brain cancer. The updated data through October 2018 have continued to mature since the prior interim data collection in March 2017 and indicate encouraging patient survival.
- NW Bio Announces $5 Million Bridge Funding: On November 13th, the company announced aggregate financing of $5 million from long-term angel investors. The Company also agreed with the Company’s CEO, Linda Powers, on further extensions of the Demand Notes relating to the $5.4 million of funding which Ms. Powers provided to the Company in February, March, and April of 2018 as a short-term bridge. The further extensions will extend the notes to maturity of one year from the funding dates. In consideration of this continuing forbearance, the Company will issue 50% warrants with the same exercise price and exercise period as in the angel investors’ notes. The note proceeds are being used for ongoing company programs and operations
About the Company: NW Bio is developing cancer vaccines designed to treat a broad range of solid tumor cancers more effectively than current treatments and without the side effects of chemotherapy drugs. NW Bio’s proprietary manufacturing technology enables the Company to produce its personalized vaccine in an efficient, cost-effective manner.
About the product candidates: The Company has a broad platform technology for DCVax dendritic cell-based vaccines.
- The Company’s lead product, DCVax-L, is currently in a 312-patient Phase III trial for patients with newly diagnosed Glioblastoma multiforme (GBM), the most aggressive and lethal brain cancer.
- The Company’s second product, DCVax-Direct, is currently in a 60-patient Phase I/II trial for direct injection into all types of inoperable solid tumor cancers.
- The Company has also conducted a Phase I/II trial with DCVax for late-stage ovarian cancer together with the University of Pennsylvania. The Company previously received clearance from the FDA for a 612-patient Phase III trial with its third product, DCVax-Prostate, for late-stage prostate cancer.
Summary of Pipeline and Program Goals:
DCVax Potentially Applicable to All Types of Solid Tumors
- Earnings: The Company has not yet generated any material revenue from the sale of its products and is subject to all of the risks and uncertainties that are typically faced by biotechnology companies that devote all of their efforts to R&D and clinical trials substantially and do not yet have commercial products.
- Profitability: The Company expects to continue incurring losses for the foreseeable future.
- Liquidity: During the nine months ended September 30, 2018, the Company used approximately $20.4 million of cash in its operating activities. Management believes that the Company will be able to continue accessing capital resources through the sale of equity and debt financing arrangements.
At September 30, 2018, current assets totaled $1.1 million, compared to $1.4 million at December 31, 2017. Current assets fewer current liabilities produced a working capital deficit in the amount of $76.2 million and $86.3 million at September 30, 2018, and December 31, 2017, respectively.
Key risk factors:
- Successful completion of the upcoming milestones/Catalysts would lead future direction for the company. Any adversities related to these future milestones might adversely impact the overall investor sentiments.
- NWBO is still an early stage entity and has not yet generated revenue and will likely operate at a loss as it grows its market position and seeks ways to monetize it. The company’ prospects are significantly dependent on its flagship projects, which might have limited sales potential initially.
- NWBO has a history of operating losses. Therefore, any time or cost overrun in its ongoing R&D activities and its impact on business & financial profile will remain a key business sensitivity factor.
- On Friday, November 23rd, 2018, NWBO closed at $0.2899, on an average volume of 2.7 million shares exchanging hands. Market capitalization is $149.258 million. Current RSI is strong at 79.95
- In the past 52 weeks, shares of NWBO have traded as low as $0.17 and as high as $0.40.
- At $0.2899, shares of NWBO are trading above its 50-day moving average (MA) at $0.207 and above its 200-day moving average (MA) at $0.237
- The present support and resistance levels for the stock are at $0.25 & $0.33 respectively.
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