One of the stocks to have made a big move in recent days is that of Northwest Biotherapeutics (OTCQB:NWBO) and on Thursday the rally continued. The stock rallied by as much as 33% yesterday and over the previous 8 sessions, it had delivered gains of 100%. The remarkable rally in the stock came about due to certain recent developments and here is a look at those.
Data Lock for DCVax®-L
Earlier on in October, the company made a major announcement with regards to its product DCVax®-L, which is meant for the treatment of Gliobastoma. The biotechnology company announced that it had successfully performed the data lock on the database from the Phase 3 trial of the product.
It is a major development for the company since now Northwest can swiftly move to the next stage. In this stage, the raw data is going to be studied by independent statisticians and experts. It should be noted that the company is not going to have access to the raw data.
The independent statisticians are going to study the data and then present a summary to the concerned parties. The summary is going to be scrutinized by the Scientific Advisory Board, the Steering Committee involved with the trial, Northwest Biotherapeutics, and brain cancer experts.
The analysis of the report from the independent statisticians is going to be the basis of the scientific publication and announcement from Northwest.
Success at Last
The company has been working on this product for many years and hence, it marks a major milestone for Northwest. The rally in the stock in recent days is hence understandable.
The Chief Executive Officer of the company Linda Powers stated that Northwest is now ‘close to the finish line’ after having gone through a tough time over the past years. She went on to add that the company hopes that DCVax®-L become an important treatment for those suffering from Gliobastoma.
Power also thanked the patience of the company’s investors and shareholders who had stuck with it through this trying period.
The rally in the stock has been quite remarkable over the course of the past few days and it remains to be seen if the Northwest can end the week on a high.
Earlier this week, the stock crossed the psychologically important $1 mark at a canter and it is quite clear that investors are quite excited with regards to the latest developments at Northwest.
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