Northwest Biotherapeutics, Inc (OTCMKTS:NWBO) is a stock that we have covered quite a few times here at Insider Financial over the past 12 months. We've tracked the progress of its lead development program, an investigation into a drug called DCVax-L in glioblastoma multiforme (GBM) and tried to piece together some degree of clarity as to what's happening behind the scenes of said program and, in turn, where we expect the company to go next from a market capitalization perspective. NWBO Daily ChartWe just got an update from management and while it's not particularly enlightening, it's the first bit of communication we've had in a while from company and its drawing some speculative volume towards the company on the back of its release. Here is our take on how this changes things, if at all, and what we are looking at going forwardFor those new to the story, Northwest Biotherapeutics kicked off a phase 3 trial investigating the drug in the above-mentioned GBM indication which was subsequently temporarily halted (or at least, enrollment resulted) for reasons unknown. The company remained silent on the matter, as did the FDA, and speculation was rife that the drug was either unsafe or didn't work or both.Fast forward to February issue, and the temporary hold was lifted. Management decided to not enroll any more patients and to wait for the predefined events threshold (a certain number of people dying) for collating and unblinding the data.It's now been six months since the trial resumed and the situation is that markets are waiting on the data but the company hasn't put out yet. Whether the threshold is not yet met remains unclear – at last count, there were reportedly only a few more events required, where things stand right now it's impossible to say.So what is the latest update tell us?Well, it was essentially a rehash of data that we would be no, so to answer that question simply, not much. With that said, however, it has served to reinforce the suggestion that there is efficacy here and – in an indication like GBM, whereby very few effective treatments exist – that's a strong claim. We know that there appears to be multiyear survival for patients in the trial and a long tail, which is pretty much unheard of in the GBM space. We also know that preclinical studies investigating the drug combination with checkpoint inhibitors have yielded equally strong results – again, a strong area of growth potential for the company going forward.The problem with this one is the short pressure that's holding the stock down. There are 14 million shares short right now, up from the 13 million recorded last month and this pressure is weighing on market capitalization. There exists some speculation that certain parties are colluding to keep the stock down and perhaps even drive it into bankruptcy in an attempt to pick up Northwest's assets (read: its DCVax treatment) as cheap as possible, but like we've said, that's pure speculation. What this means, however, is that any positive news might not have the impact the company deserves as and when it hits press. With that said, if Northwest puts out data showing that its drug extends OS and PFS and GBM patients, the company is going to run regardless of short pressure and we may see some degree of squeeze compound the action.Bottom line here is that the most recent update hasn't really shone any light on the ongoing GBM situation but it has served to reignite some interest in a company that had fallen off the radar of many over the last few months but that could be a real winner as we head into the close of 2017.Check out our previous coverage of this one here.We will be updating our subscribers as soon as we know more. For the latest updates on NWBO, sign up below!Image courtesy of wyinoue via FlickrDisclosure: We have no position in NWBO and have not been compensated for this article.
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