Northwest Biotherapeutics Stock Resumes Uptrend On Completion of Phase 3 Trial Sites’ Databases
It has been a notable few weeks for biotech companies and many of these companies have seen their stocks rocket following significant news about their products. One such company is Northwest Biotherapeutics, Inc (OTCMKTS:NWBO), which rose by as much as 19% after the company announced the completion of phase 3 trial site databases for its product DCVax®-L.
Completion of Phase 3 Trial Sites’ Databases
The product in question is meant for the treatment of brain cancer and the fact that Northwest has managed to set up clinical trial sites for the third phase is a significant milestone for the company. Since the stock has emerged as one of the more notable gainers in the biotech space, it might be worthwhile to take a closer look at it.
In the previous reports revealed by the company, it had been pointed out that the data from each site would need to go through final data collection, checking for queries, resolution of the said queries and review among other steps. In order to accomplish that, the lead investigator at each site are supposed to be trained in the system and then handover the data to the independent contract research organization in charge of managing the trial.
The completion of these sign-offs from the trial sites was a major priority for Northwest over the course of June and July. As per the last report published by the company back in June, there were around 30 trial sites that had recorded different degrees of progress. However, that work has now been completed and represents a major development for Northwest.
However, in this regard, it is also necessary to point out that the Northwest stock has been performing well since the middle of May. Since then it has gained as much as 100% and it could be interesting to take a look at the development that resulted in those gains.
Last month, the company announced its financial results for the fiscal first quarterand managed to generate a net income of $2.7 million. In the prior-year period, Northwest had actually made a loss. Earnings per share for the period came in at less than 1 cent a share and revenues for the period stood at $575,000.
The earnings performance proved to be another major trigger for the rise in the stock and after that, the Northwest stock continued to make a powerful move as more and more investors flocked to it. At the time, there was a lot of anticipation with regards to the data lock of DCVax®-L as well and that was also one of the possible reasons behind the positivity behind the stock at large. Now that the lock has been completed, it remains to be seen if the Northwest stock can further add to its gains this week.
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