NorthWest Biotherapeutics Inc (NWBO)

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The KITE and JUNO valuations are what make valuing a positive P3 trial here tricky. Both were valued at $10-$15 billion, but didn’t have as much potential as a successfully demonstrated DCVAX platform. The question really becomes, what would that be worth? I think the value starts at $20-$25 billion. I think DCVAX-L alone is worth $10-$15 billion after a successful P3 trial. There are going to be all sorts of calls to expand use with no side effects, if efficacy is demonstrated on solid tumors.