BETHESDA, Md., March 28, 2014 /PRNewswire/ -- Northwest Biotherapeutics (NASDAQ: NWBO) (NW Bio), a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, today refuted false and misleading claims by Adam Feuerstein in an article posted Thursday, March 27, after NW Bio's public presentation of significant positive news about all of the Company's programs.
Feuerstein's headline falsely claims that NW Bio's CEO, Linda Powers, "disclosed problems" with the Company's Phase III clinical trial. On the contrary, Ms. Powers announced entirely positive news about the Company's Phase III trial as well as its other programs, and Ms. Powers emphasized in her presentation that prior claims by a commentator (i.e., Feuerstein) that there were problems with the Company's Phase III trial were unfounded and wrong. Ms. Powers reiterated that the Phase III trial is progressing well, and further centers of excellence are joining the trial. The Company urges investors, analysts and other interested parties to view Ms. Powers' presentation (which is available via webex on the Company's website) to hear the correct, positive information and form their own opinions. Feuerstein makes a series of false and misleading claims in his article. First, Feuerstein describes the Company's Phase III trial as "requiring a p value of 0.02 to reach statistical significance" and claims that this makes it more difficult for this trial to succeed. Feuerstein is factually wrong on both points: the Company's trial does not "require" a p value of 0.02 to reach statistical significance, and the Company's trial design increases, not decreases, the trial's ability to succeed. The Company's Phase III trial, like all other trials, will be considered to reach statistical significance if it reaches a p value of 0.05. "P value" is a measure of the probability that trial results were due to chance, and not the result of the experimental treatment being tested. So, the lower the p value, the better it is. The p value generally required by regulators for statistical significance is 0.05.