Treatment Arm : DCvax (+Poly ICLC) + Keytruda Control Arm : DCvax
If the treatment arm has the best result. Conclusion: The combination therapy is the winner DCvax and Keytruda both win.
If the control arm has the best result. Conclusion : Keytruda loses and is not needed. DCvax is the winner.
Suppose the result is identical. Conclusion : Keytruda is not necessary !
In all three possible outcomes, DCvax wins (with or without Keytruda). Keytruda is actually taking a HIGH risk and has a high probability of losing. Why would Merck take this risk?
In my view :
1: If the combination leg wins: a nice collaboration / partnership or takeover of NWBO.
2: If the control leg wins: Keytruda knocked out (and maybe alone continues?)
3: In case of a tie: Keytruda not needed so knocked out.
It seems clear to me that this will be either a collaboration or an acquisition.