Biotech company Northwest Biotherapeutics (OTCMKTS:NWBO) has seen its stock make a major move over the course of the past few days and it continued yesterday as the stock ended the day with gains of 12%. That took the gains made by the stock over the course of the past week to as much as 45%.
On Thursday, NWBO stock increased 12.57% to $1.0400 with more than 15.75 million shares, compared to its average volume of 1.59 million shares. The stock moved within a range of $0.8920 – 1.2000 after opening trade at $0.9329.
Northwest Biotherapeutics Reports Positive Top-Line Results From Phase 3 Trial of DCVax®-L for Glioblastoma
The company was in the news yesterday after it announced that in the Phase III clinical trial of its product DCVax-L, patients who had been treated with the product not only displayed median survival but also demonstrated the ‘long tail’ of longer term survival. It was a major new announcement from the company and one that may have caused considerable optimism among investors as well if one goes by the price action in the stock yesterday.
It is also necessary to point out that the trial had also managed to hit both the primary as well as the secondary endpoints which had been set by the Statistics Analysis Plan specifically for the trial. The results from the trial were published in a featured publication and had been co-authored by as many as 70 physicians from some of the best known institutions in Germany, United Kingdom, Canada and United States.
Ms. Powers, CEO of NW Bio, commented: “We are excited to see the meaningful survival extensions in glioblastoma patients treated with DCVax®-L in this trial – particularly in the “long tail” of the survival curve, where we see more than double the survival rates as with existing standard of care. With well over 400 clinical trials for glioblastoma having failed over the last 15 years, it is gratifying to be able to offer new hope to patients who face this devastating disease.”
NWBO stock is trading above the 20-Day and 50-Day Moving averages of $0.79 and $0.73 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.77.