News of a deal between Northwest Biotherapeutics (NWBO) and its contract manufacturer to increase the production and development infrastructure for its vaccine technology, send NWBO stock up more than 3% in Monday morning trading.
NWBO stock gained after the company said it had inked agreements with Cognate Bioservices to expand the production, distribution, storage and processing of its DCVax-L and DCVax-Direct dendritic cell-based vaccines. The deal that boosted NWBO stock was finalized on Jan. 17, the company noted.
The agreements will create the infrastructure required for eventual commercialization of NWBO technology, the testing and validation of products for regulatory clearance and increased clinical programs in Europe and the U.S.
NWBO is currently conducting a Phase III trial involving 312 patients suffering from Glioblastoma multiforme (GBM). Additionally, a 60-patient Phase I/II trial is ongoing to examine the effect of DCVax-Direct on inoperable solid tumor cancers.
The FDA has granted approval for a 612-patient Phase III trial for an NWBO treatment for prostate cancer.
NWBO stock has risen more than 50% over the past year. NWBO stock closed at $4.84 a share on Friday.