NorthWest Biotherapeutics Inc (NWBO)

[CogDiss 1188X]

I don’t want to rain on any parades and certainly wish the company has found a treatment that significantly moves things forward for GBM patients.

(Here comes the inevitable However) Berubicin is (just) a new form of anthracycline, a work horse category of chemotherapy. The unique thing about berubicin is the capacity to cross the blood-brain barrier, so it can target GBM. But being a chemotherapy, I don’t see any reason to think it’s effectiveness won’t be in the ballpark of temozolomide, which, while certainly useful, isn’t going to move the ball significantly forward from where we are currently.

Anthracyclines are subject to multi-drug resistance, so it will ultimately fail for most patients. In the mean time, they are at risk of serious side effects like cardiotoxicity and myelosuppression, as well as secondary cancers like leukemia, for those fortunate to survive.

These kind of chemotherapy trials remind me of the old saying about Woody Hayes’ approach to offense at Ohio State—run the fullback up the middle every play, resulting in 3 yards gained and a cloud of dust.

Unfortunately one needs 10 yards for a first down.

This analysis is separate from whether the product will be economically valuable to the company. It probably will be, if I had to guess.