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Close of 9 Nov 2026, in USD
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About Northwest Biotherapeutics
From its filings with the US Securities and Exchange Commission
Northwest Biotherapeutics is based in Bethesda, Maryland and is incorporated in Delaware. Its shares trade on OTC under the ticker NWBO. The SEC classifies its business as pharmaceutical preparations. In the fiscal year to 31 December 2025, it reported revenue of $1.4m and a net loss of $60.2m. At that date it held total assets of $81.3m and shareholders' equity of −$60.3m.
We are a biotechnology company focused on developing personalized immune therapies for cancer. We have developed a platform technology, DCVax®, which uses activated dendritic cells to mobilize a patient’s own immune system to attack their cancer.
Our lead product, DCVax®-L, is designed to treat solid tumor cancers in which the tumor can be surgically removed. We have completed a 331-patient international Phase III trial of DCVax-L for Glioblastoma multiforme brain cancer (GBM), published the results in the JAMA Oncology peer reviewed journal, and on December 20, 2023 we submitted a Marketing Authorization Application (MAA) for commercial approval in the U.K. We plan to conduct clinical trials of DCVax-L for other solid tumor cancers in the future, when resources permit. Our second product, DCVax®-Direct, is designed to treat inoperable solid tumors. A 40-patient Phase I trial has been completed, and included treatment of a diverse range of more than a dozen types of cancers. We plan to work on preparations for Phase II trials of DCVax-Direct as resources permit.
We have an integrated strategy for protection of our technology through both patents and other mechanisms, such as Orphan Drug status. As of December 31, 2025, we have 58 issued patents, including national validations in certain European countries, and 50 pending patent applications worldwide, grouped into 8 patent families. Of these, 47 issued patents, including validations in European countries, and 29 pending patent applications directly relate to our DCVax products.
Quoted from its 10-K, filed 15 Apr 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Health Care
- Industry
- Biotechnology
- Listed since
- 14 Dec 2001
- Employees
- 105
- Website
- nwbio.com ↗
- Head office
- 4800 MONTGOMERY LANE, BETHESDA, MD, 20814
- Incorporated in
- DE
- Classification
- Pharmaceutical Preparations
- Filer status
- Non-accelerated filer<br>Smaller reporting company
Leadership
Pay as last reported
- Ms. Linda PowersChairperson of the Board, President, Chief Executive Officer, Chief Financial Officer, Chief Accounting Officer, since 2007$925,000
- Mr. Leslie GoldmanSenior Vice President, General Counsel$725,000
- Dr. Alton BoyntonChief Scientific Officer, Corporate Secretary, Director, since 1998$375,000
- Dr. Marnix BoschChief Technical Officer$453,600
- Amb. J. Cofer BlackIndependent Director$150,000
- Dr. Navid MalikIndependent Director$150,000
- Mr. Pat SarmaIndependent Director
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 26
- Environment
- 26
- Social
- 47
- Governance
- 7
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Northwest Biotherapeutics Inc has several strengths that contribute to its success in the biopharmaceutical industry. Firstly, the company possesses a strong portfolio of innovative biotechnology products and treatment options. This enables them to deliver novel solutions to patients, addressing unmet medical needs. Secondly, Northwest Biotherapeutics Inc has established strategic collaborations with leading research institutions and pharmaceutical companies, fostering knowledge exchange and potential revenue streams. Lastly, the company benefits from a dedicated and experienced team of scientists, clinicians, and executives who drive advancements in research, development, and commercialization.
Weaknesses
- Despite its strengths, Northwest Biotherapeutics Inc also faces certain weaknesses that could hinder its progress. One notable weakness is the company's relatively limited financial resources compared to larger competitors. This may constrain their ability to fund extensive clinical trials or large-scale marketing campaigns. Additionally, Northwest Biotherapeutics Inc's reliance on external partnerships could introduce risks related to delays, disagreements, or the loss of intellectual property rights.
Opportunities
- Opportunities abound for Northwest Biotherapeutics Inc within the evolving healthcare landscape. The increasing demand for personalized medicine and targeted therapies offers the company a chance to leverage its expertise in biotechnology solutions. Furthermore, collaborations with emerging markets, such as Asia and Latin America, can provide access to a vast patient population and potential revenue growth. The pursuit of strategic acquisitions or licensing agreements with complementary companies could also offer Northwest Biotherapeutics Inc opportunities to expand and diversify its product portfolio.
Threats
- Like any company operating in the biopharmaceutical sector, Northwest Biotherapeutics Inc faces certain threats that must be addressed. One significant threat is the highly competitive nature of the industry, with numerous companies vying for market share and limited commercialization opportunities. Stiff competition could impact pricing, profitability, and market penetration. Additionally, the company must navigate stringent regulatory processes and comply with evolving legal requirements, which may pose challenges to product development and commercialization efforts.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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