On July 8, 2026 Northwest Biotherapeutics (OTCQB:NWBO) (the "Company" or "NWBio"), a biotechnology company developing DCVax personalized immune therapies for solid tumor cancers, reported that the Company’s Chief Technical Officer, Dr. Marnix Bosch, presented updated survival data from the Phase III trial of DCVax-L for glioblastoma (GBM) at the 2026 Annual Meeting of the British Neuro-Oncology Society (BNOS). The updated data included results of multiple different statistical analyses conducted by independent statisticians, using individual patient-level data (IPD), and demonstrated that the survival extension with DCVax-L was likely underestimated in the original analysis of the trial results.

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The original analysis of the DCVax-L trial results used cohort-level data to compare the results in DCVax-L patients vs. controls, as the Company only had access to cohort-level data for the controls. More recently, the Company obtained individual patient data (IPD) from several major randomized controlled trials (RCTs) in newly diagnosed glioblastoma (ndGBM), which enabled more precise matching of the DCVax-L patients and the controls. Notably, the Statistical Analysis Plan (SAP) for the DCVax-L trial had envisioned that IPD-based analyses would be undertaken when access to IPD could be obtained.

Two widely recognized and rigorous statistical methods were applied by the independent statisticians for the IPD-based analyses: propensity score matching (PSM) and inverse probability weighting (IPW). The PSM analyses of two large RCTs in ndGBM found that the median survival advantage with DCVax-L treatment was 4.9 to 6.3 months, and PSM analysis of a third RCT in ndGBM found 3.4 to 3.7 months survival advantage with DCVax-L. The Hazard Ratios (HRs) ranged from 0.69 to 0.77, and the p values ranged from 0.004 to 0.027. All of these results are substantially greater than the results of the original trial analysis, which found that the median survival advantage with DCVax-L was 2.8 months based on cohort-level data.

The IPW analyses, taking a different approach than the PSM analyses, delivered similar findings: median survival advantage with DCVax-L of 3.4 to 4.3 months.

In addition to conducting the PSM and IPW analyses of known prognostic factors, the statisticians also conducted two forms of sensitivity analyses to check for potential unknown factors which could have confounded or biased the results: E Values and Rosenbaum’s Gamma measures. The results of these sensitivity analyses demonstrated that the observed treatment effect with DCVax-L is not attributable to a hidden imbalance between the DCVax-L patients and the controls.

For further information, please see the presentation slide deck on the Company’s website (www.nwbio.com)

"These new PSM and IPW analyses, together with the E Value and Rosenbaum’s Gamma sensitivity analyses, provide strong evidence and reinforcement of the survival benefit with DCVax-L treatment, based on my review of the statisticians’ analyses," commented Dr. Marnix Bosch. "The key is that all of these analyses, which have taken multiple different approaches and have applied them to multiple ndGBM RCTs, have produced results that are all directionally consistent and all in the same range of magnitude. The statisticians’ findings indicate that the median survival benefit reported from the original analysis of the DCVax-L Phase III trial, based on cohort-level data, was likely substantially underestimated."

(Press release, Northwest Biotherapeutics, JUL 8, 2026, View Source [SID1234669110])