Seeking Alpha

Clinical trial site criticizes Northwest Bio over its press releases

  • MD Anderson VP of Clinical Research Aman Buzdar, M.D., takes issue with Northwest Biotherapeutics' (NWBO -10.4%) trigger-happy behavior regarding disclosing preliminary and unconfirmed results from the ongoing DCVax clinical trial. The company has issued five press releases and conducted one conference call disclosing the results from individual cancer patients who have had single inoperable tumors injected with DCVax-Direct. This is problematic due to two issues: 1) the investigators have not reviewed or analyzed the data because patients are still being enrolled and treated and 2) NWBO's published "results" come from patient case report forms which the trial sites are obligated to send to the trial sponsor.
  • Dr. Buzdar says, "I have read the information that the company has put in the public domain. It is extremely unusual and inappropriate." He terms the company's disclosures inappropriate because injecting a tumor with any substance can cause regression due to necrosis-causing inflammation. He says, "..it is a tremendous leap to say that this is a real response."
From other sites
Comments (34)
  • C D
    , contributor
    Comments (149) | Send Message
     
    Another Article written by AF- The street- I wonder why he continues to be allowed to do these articles...
    My take on this doctor: It is highly inappropriate for Dr Buzdar to make such comments on a trial that he is not part of. Yes, he works for MD Anderson, he is not the principal investigator /or involved with this trial.
    19 Jun 2014, 10:45 AM Reply Like
  • Erbois
    , contributor
    Comments (224) | Send Message
     
    Adam Frankenstein is taking the whole world for idiots!
    I wonder how a guy with such intelligence is still "writing" "articles" to one of the worst publications in USA
    19 Jun 2014, 10:57 AM Reply Like
  • Enlightened one
    , contributor
    Comments (14) | Send Message
     
    WHOA! All you are doing is repeating verbatim what Adam Feurstein said in a blog. Did YOU speak to anyone at MD Anderson? Don't tell me that you've finally joined the criminal ranks of The Street! That's what it appears to be.
    19 Jun 2014, 10:58 AM Reply Like
  • fibonacci1170
    , contributor
    Comments (60) | Send Message
     
    Money rules. What kind of a respected person would want to do an interview with AF? AF gets kickbacks to the tune of $900K for his bash articles. Doctors do not get paid like that and there is intense competition amongst researchers to get a share of limited govt/private research funding. Those who are left behind, often hold a grudge against their more successful peers. I personally know of cases where researchers/academics took bribes to pull fellow researchers. Only people of AF's kind get in touch with him. In any case, as you correctly pointed out, Buzdar is not involved in the trial and moreover, science does not care for personal opinions. In cancer, tumor shrinkage is worth a thousand kingdoms, and NWBO's vaccine does the job. In fact, Buzdar acknowledged that: "If trial results were negative, do u think NWBO would be disclosing this info? No."

     

    So, AF actually published a blog contradicting his own lies about the vaccine's tumor shrinking ability.
    19 Jun 2014, 11:07 AM Reply Like
  • longimgn
    , contributor
    Comments (429) | Send Message
     
    Actually, IMHO, this is positive because it will put MD Anderson on the spot where they have to 1. defend Dr. Buzdar and say this is the correct interpretation of MD Anderson's policy or 2. Deny that Dr. Buzdar has the authority to speak for the hospital and what he said is not the hospitals policy...Furthermore, I want MD Anderson to clarify the following.....It is correct that the lead investigator is not going to comment on the on-going trial, however, Is the information that the company has released been altered in any way or mis-interpreted or mis-represented by the company??? IMHO, if the Hospital defends the statistics that the Company has published, then it is off to the races.....AF is constantly trying to discredit the results.......If the Hospital says, they cannot comment on the results, but what the company is reporting is not lies, then we have a winner going forward and the world will become aware of, what I hope, will be a leap forward in the fight against cancer....
    19 Jun 2014, 11:32 AM Reply Like
  • Erbois
    , contributor
    Comments (224) | Send Message
     
    I agree with you in some way. But I will go even further:
    Has Dr. Buzdar really made the comments AF is attributing to him?
    Has AF distorted Dr. Buzdar's comments?
    I think either Dr. Buzdar or AF will have some explaining to do shortly.
    19 Jun 2014, 12:00 PM Reply Like
  • Relayer
    , contributor
    Comments (38) | Send Message
     
    Just saw this press release... A law firm is gunning for NWBO and NOT Adam Fuerstein??? I'm rather shocked, to say the least. Are there really so many investors upset with NWBO rather than it's would-be nemesis???

     

    "Pomerantz LLP is investigating claims on behalf of investors of Northwest Biotherapeutics, Inc. ("Northwest Biotherapeutics" or the "Company") (NASDAQ: NWBO). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237.

     

    The investigation concerns whether Northwest Biotherapeutics and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934." ...and goes on to site Adam's "interview".
    19 Jun 2014, 11:57 AM Reply Like
  • gmanwicksy
    , contributor
    Comments (131) | Send Message
     
    Adam probably called all the law firms and put them on high alert for after his latest article.
    19 Jun 2014, 06:53 PM Reply Like
  • alance86
    , contributor
    Comments (173) | Send Message
     
    Pomerantz was also involved with the GALE attacks, and MNKD, both of which AF was bashing. Coincidence? Could be, they could just go after stocks that he attacks, but I would side with gman and think they probably get a heads up.
    20 Jun 2014, 04:57 PM Reply Like
  • Erbois
    , contributor
    Comments (224) | Send Message
     
    Has any of Adam Frankenstein’s followers ever asked himself this simple question:
    Why is Adam Frankenstein the only person on earth to criticize NWBO all the time?
    19 Jun 2014, 01:13 PM Reply Like
  • ribking1
    , contributor
    Comments (9) | Send Message
     
    He is paid by the big boys in the same cancer area as nwbo,its that simple,and the dr from md anderson fell prey to them also,it will all come out very soon. Its that simple.
    19 Jun 2014, 01:20 PM Reply Like
  • Relayer
    , contributor
    Comments (38) | Send Message
     
    Where are these throngs of investors that are upset with NWBO to the point of a class action suit? Where?? And how has anyone with half a brain actually lost money with this stock?? Serious questions.
    19 Jun 2014, 02:52 PM Reply Like
  • Think Long Term
    , contributor
    Comments (123) | Send Message
     
    Law firms representing shareholders? When did they sign on with them? Last week, month? HAHA Where the hell is the SEC? Isn't it time to investigate Adam F? I mean really, how many more companies.
    19 Jun 2014, 02:58 PM Reply Like
  • Relayer
    , contributor
    Comments (38) | Send Message
     
    Indeed!!! Adam should be on the fire for this one!
    19 Jun 2014, 04:52 PM Reply Like
  • Yastremzki
    , contributor
    Comments (26) | Send Message
     
    Um...It doesn't matter who the messenger is, you have to ask yourself would anyone destroy any shred of credibility they have by lying about what Buzdar said? I think it's most likely true, and unless the doctor is a psycho, it's frikken serious.
    19 Jun 2014, 03:23 PM Reply Like
  • longimgn
    , contributor
    Comments (429) | Send Message
     
    The Dr. is not a lying or a psycho, just in my humble opinion.....See, this has never happened before, so no one knows how to react....The Media Relations man said in all his 20 + years, no company puts out results so early in the trial....He did not say the results were false, just it was way to soon to make them public....To many variables to make any conclusions...
    As soon as we get information on the efficacy of "L" and how much the German Government will reimburse hospitals for the special exemption treatments, then we will have facts....Linda has to stay the course now and keep releasing the latest results MD Anderson sends, I think...If she backs off, it will look like she is agreeing with Dr. B. and AF.....This is a fast moving cancer disease with patients who are so sick, they have no hope...If the tests keep coming back that some are actually responding, this is news, then this must keep coming out....But, Linda has broken the mold...She is releasing results that are so early, no one can imagine they are a result of the treatment, or that it will be lasting more than a few months at the most....I hope for the sake of all patients on D and are responding, that someday they can walk out of Hospice Care, not be carried out like everyone who, up to now, was there only option....If D works as Linda and the investigators at MD Anderson are finding, then, don't worry about lawsuits and grippers....This is my hope and my humble response to everything that has unfolded today....On to tomorrow...
    19 Jun 2014, 04:17 PM Reply Like
  • Relayer
    , contributor
    Comments (38) | Send Message
     
    Classy comment. Thanks, it's refreshing.
    19 Jun 2014, 04:51 PM Reply Like
  • Relayer
    , contributor
    Comments (38) | Send Message
     
    I've been deleted for this post 4 times now on "The Street" and I thought that everyone should see what they do to protect their own interests. It may be my own opinion, but I didn't state anything outside of decency. WTF?? By the way, the first few tries did not mention Jim Cramer, although I'm not against him at all and the use of his name was sincere, but also hopeful that some form of ethical management might get involved.

     

    "Here's another attempt at my right to freedom of speech... keeps getting deleted, but perhaps someone at the Street (including my hero on many occasions, Jim Cramer) might let this get through... God willing...

     

    Where are all of the disgruntled NWBO investors? Has anyone with any more than a few brain cells lost money on this stock? Seriously... there have been way too many opportunities to buy at prices well below the average for anyone, but an idiot to have lost money. This media-induced "investigation" by a law firm is quite extraordinary. I'd like to know how many investors are actually interested in pursuing this; does it consist of those who bought at over $9 on a positive news bit? Perhaps, and if so, they should have considered researching the history of this stock as is easily found anywhere that has a historical chart. If you buy a spec stock at a near high, you are a fool, unless you know more than most keen investors. The only manipulation of NWBO that I've seen has been from a certain "journalist", who will seemingly stop at nothing to make sure that a promising glioblastoma treatment (that causes no harm) is destroyed."
    19 Jun 2014, 03:53 PM Reply Like
  • Relayer
    , contributor
    Comments (38) | Send Message
     
    Where are all of the disgruntled NWBO investors? Just that.
    19 Jun 2014, 04:31 PM Reply Like
  • budfish
    , contributor
    Comments (48) | Send Message
     
    Class action attorneys who specialize in litigating public traded companies do not need to have disgruntled investors. They traditionally watch the news for items that cause price drops due to news and then publish an announcement that an investivation of wrongdoing is started and proceed to troll for shareholders to join in as plaintiffs. They seldom go to court but know that the company and it's insurance carrier will "settle" to get the matter resolved and the firm gets paid well and the shareholders will get a few bucks. I get an average of 1 "notice of settlement" from these pirates every two months
    19 Jun 2014, 04:51 PM Reply Like
  • longimgn
    , contributor
    Comments (429) | Send Message
     
    Thank you Bud.....Linda is a first class Lawyer....no one will be able to dispute the results that have been made publicly...Just the conclusion surrounding the meaning of the results....By the time this ever gets to trial, the real trial of "D" will be well underway and those results will give rise to the answer to the lawsuits about the timing of the release of the early results of "D"....So, if the test results are poor, then the cancer patients will have no hope and Linda, the company and its investors will be poorer...If they show the same or even improved results over time, then cancer patients will be feeling better and we all will be feeling better and the lawyers will pack up their briefs, (after doing something in them), and go home just like the patients who are feeling the relief of a treatment that is not painful, invasive or harmful, but healing and life giving...I am hoping the patients win and the lawyers lose...
    19 Jun 2014, 05:05 PM Reply Like
  • budfish
    , contributor
    Comments (48) | Send Message
     
    This from "Smithonstocks"

     

    Adam Feuerstein has just launched its 16th negative blog on Northwest Biotherapeutics since the beginning of March and this has caused the stock to decline about $0.88 in early trading. The link to his blog is

     

    http://bit.ly/1uFUPSo and the title of the blog is “Prestigious Cancer Hospital Rebukes Northwest Bio for ‘Inappropriate’ Data Disclosures”

     

    Here is what I know so far. Feuerstein claims to have spoken to a Dr. Buzdar who is an oncologist by training and works at M.D. Anderson. I am not clear what his job is at M.D. Anderson but it is my understanding that he is not involved with the DCVax Direct trial. It appears that the sensational headline is misleading. I do not think that M.D. Anderson as an institution has criticized NWBO about their release of interim data on the DCVax Direct trial. This is an open label trial and it is not unusual for a Company to release interim data before the end of the trial. There is nothing illegal or unethical in doing so as long as the information is accurate. My best judgment is that Dr. Buzdar is speaking for himself and not M.D. Anderson.

     

    I understand that NWBO will work with M.D. Anderson to respond to this latest Feuerstein missive. I do not see this as an important new event in the DCVax Direct trial. It is an article composed by an author will a well laid out and well understood negative agenda.

     

    Although this is a sensational headline, it does not in anyway impugn the data that has been released about DCVax Direct nor the possible final outcomes. It is a typical strawman argument about whether it is appropriate to discuss interim data. Opinions may differ, but what NWBO has done is not unusual or unethical.

     

    19 Jun 2014, 06:35 PM Reply Like
  • pat walsh
    , contributor
    Comments (282) | Send Message
     
    I always wait for a pullback in a company I am investing in.Herr AF never disappoints me in his trashy lies.I do my DD and stick with a company like NWBO.I bot some today and if NWBO trades down tomorrow I will buy more.what amazes me is that some people take what this clown says as gospel.If I am wrong well its my money.If I am right I will go to bank big time.
    19 Jun 2014, 07:17 PM Reply Like
  • C D
    , contributor
    Comments (149) | Send Message
     
    Would love to file we a class action suit against AF and The Street?
    19 Jun 2014, 07:17 PM Reply Like
  • Bigboppa
    , contributor
    Comments (8) | Send Message
     
    I called one of these ambulance chasers and asked him to start a class action suit against the street and AF. He hung up the phone on me.
    19 Jun 2014, 11:25 PM Reply Like
  • Tim Weible
    , contributor
    Comment (1) | Send Message
     
    Taken out of context and standing alone, Dr. Buzdar’s statements, if an accurate quote, could be a legitimate gripe, but is it illegal? Describing NWBO’s public disclosures of efficacy as fraud is also a giant leap. First, Dr. Buzdar is an ethical critic, but not an actual trial investigator. Second, anything that Adam F. publishes needs to be confirmed by someone else. Third, if NWBO is guilty of anything, I think it can be attributed to them knowing they have something special, and they can’t contain there glee.

     

    NWBO has other previous DCVax Phase 1 trials that have shown real responses at the end of the study. In those completed trials, DCVax has blown away traditional gold standard chemo, radiation, and surgery treatment results. An effective tumor response to DCVax has already been established. There is no fraud here. Especially when the reported drug response generated from the ongoing trial sites is no surviving live cancer cells, or total tumor necrosis in several patients.
    19 Jun 2014, 08:27 PM Reply Like
  • purewater
    , contributor
    Comments (38) | Send Message
     
    Today is sad day in my life because I sold NWBO after holding it the longest amongst all my investments. This is a company I truly believed will find a revolutionary alternative to chemotherapy through its immunotherapy breakthrough. NWBO is 50% of all my investment. I am not a rich guy, but my extremely hard earned dollars was invested here. Also, because I am a cancer suvivour. I have this firm and strange conviction in NWBO. So even though I am familiar with basing from AF, I never budged a inch. But today I was upset. As a investor I understand the risks. But as a investor what we need is TRUTH. THATs ALL. Cancer research is serious business. So many intelligent people are doing it. No solution yet. Same old chemotherapy. I went through it myself for 6 months. So, if immunotherapy can come along and if that works..... God bless everyone involved. But, today's piece by AF and earlier company releases really upset me, because someone is not saying the truth. Also, AF today was quoting a doctor from MD Anderson hospital. Why would a doctor speak when he is not involved?, why would a company release news just to create rosy picture?, why would AF bash such noble work?. Where is the truth. I invested in NWBO because of everything I read and stuck to it because of so many positives like the German approval (which should be independent), company releases (here one has to just believe what they say is true). I ignored AF so far because of my inherent intuitive belief in company. But today I sold because it was quite emotional after repeated attacks after each positive news from the company. I would still invest back heavily here if only company puts information that is truth nothing but the truth. I am not saying that they have not done so, so far. But how come AF so easily attacks and contradicts them each time?. Probably company should just not release any news till they get blinded results and till FDA approves for efficacy and safety or when they reach end point. Mid point releases can be attacked, contradicted........so no need for publicity in between. That way those who believe in company stay and others don't. In such a scenario if a investor looses everything, bad luck. But if the investor looses because of manipulation that is hurtful. Anyway, today is a sad day for me because I sold all my shares in NWBO. I can easily invest in lot of safe companies. I know the risks with companies like NWBO. Now what we want to hear from Linda of NWBO is that what the company states, releases is 100% truth. Just pure truth. If she makes that statement then let AF or others write whatever. Then we know why we are investing in NWBO. We may loose big or win bigger......I may buy back NWBO.......but I am sad I sold, but it was too much
    19 Jun 2014, 08:45 PM Reply Like
  • jgons2014
    , contributor
    Comments (255) | Send Message
     
    The company is telling truth. The enemy is too powerful. That problem doctor himself had been reporting ongoing data from an open trial. It's outrageous that doctor even say that he has never seen such before. See what AF and else did on GALE and CYTR. Now both are creeping back. Hold, hold, hold, not a good time to sell now.
    20 Jun 2014, 03:53 AM Reply Like
  • jgons2014
    , contributor
    Comments (255) | Send Message
     
    Dr Buzdar himself has released Bristol-Myers Phase I ongoing efficacy data for chemotherapy. What interesting is that Dr Buzdar prohibits NWBO from doing so for immunotherapy! Why?

     

    http://bit.ly/1kU3afF
    20 Jun 2014, 03:53 AM Reply Like
  • purewater
    , contributor
    Comments (38) | Send Message
     
    Thank you jgons2014. I just bought back on Friday 7400 shares of NWBO at about 7.10 per share. It was a painful 1 week away sitting on sidelines. Now it feels good. Hopefully phase 3 of dcvax will be released soon and the news good. I just believe in this stock. Intuition.
    28 Jun 2014, 05:38 PM Reply Like
  • Erbois
    , contributor
    Comments (224) | Send Message
     
    BOTTOM LINE:

     

    Adam Frankenstein says no matter what NWBO says or does, it is wrong.

     

    I say no matter what the IDIOT Adam Frankenstein says or does, he is WRONG and I am holding into my NWBO.

     

    FULL STOP
    20 Jun 2014, 03:57 AM Reply Like
  • budfish
    , contributor
    Comments (48) | Send Message
     
    What I feel has happened here is the combined effect of a writer on stocks (AF) who is obviously investing in stocks himself, that's his business life, and I suspect he is profiting from the 8.5 million shorted shares of NWBO . Yesterday the shorts made 15 million on the news driven decline. That news was primarily driven by the efforts of AF to find a medical doctor who would make statements that would cause doubt of the intentions of NWBO in releasing results, and AF found his doctor after two days of searching in persona of Dr. Buzdar. I feel that Dr. Buzdar wandered off the reservation when he took a call from AF and proceeded (with leading questions from AF) to make statements to a reporter. I assume AF did tell him he was going to write an article using his statements but it is possible he did not. It is possible that AF did not even make the call but used another source to call for him. Hospitals and universities are very strict about who is authorized to conduct interviews with the media and it is usually through their Public Relations department and selected department heads that statements can be made. In this case I am sure Dr. Buzdar now finds himself in disfavor or worse for allowing statements and the name of M.D. Anderson to be in print, violating their internal protocol, and injuring the business relationship with a client company who is paying for patient trials. This entire process demonstrates just how much AF is going down the path of sleeze reporting in the vein of the publications one finds in the check out line at the supermarkets.
    20 Jun 2014, 11:20 AM Reply Like
  • budfish
    , contributor
    Comments (48) | Send Message
     
    If M.D. Anderson had intent to "issue a rebuke" as claimed by AF, they would not have waited for AF to call and remind them to do so. This was not an official issue of a rebuke. Claiming it does not make it so.
    20 Jun 2014, 12:26 PM Reply Like
  • ribking1
    , contributor
    Comments (9) | Send Message
     
    None of anybodys comments makes a shit,anybodys,it all comes out when its out. Period. But i do like all the stories.keep it up,its very entertaining just watching the greed of americans. On both sides.
    29 Jun 2014, 10:22 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs