Novocure Ltd (NASDAQ: NVCR)
Novocure is having an overwhelmingly positive start to the day today in the pre-market hours, and for good reason. Early this morning, the company released overwhelmingly positive clinical data. Of course, this led to gains in the stock as investors got excited, prompting our partners at Trade Ideas to be the first to alert us to the movement. At the moment (8:36), NVCR is trading at $12.70 per share after a gain of $4.60 per share (56.79%) thus far today.
NVCR Releases Positive Clinical Data
As mentioned above, Novocure is having a great day in the market today after releasing positive clinical data. The data comes from the Phase 3 pivotal EF-14 trial, which is focused on adding Optune to standard temozolomide chemotherapy as a treatment for newly-diagnosed gliblastoma.
In the data release, we learned that analysis of the data from the study showed a consistent and maintained improvement in overall survival at 2, 3, 4, and 5 years. The data showed an increase of survival in patients treated with the combination therapy from 30% to 43%. In a statement, Dr. Roger Stupp, Associate Director for Strategic Initiatives at the Robert H. Lurie Comprehencive Cancer Center of Northwestern University, had the following to offer:
When I started treating patients with GBM 20 years ago, the majority of patients died within less than one year and long-term survival was nearly absent. Now, we see a meaningful improvement in survival at two years and beyond.
This is the first positive Phase 3 trial in newly diagnosed GBM since we demonstrated the efficacy of temozolomide in 2005, establishing it as a standard first-line therapy… Beyond GBM, I believe this trial establishes an entirely different approach to cancer treatment with minimal toxicity which may be well suited for combination with conventional treatments for many other cancer types.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on NVCR. In particular, we’re interested in following the company’s next steps. Considering the overwhelmingly positive Phase 3 data, it only makes sense that an NDA will be coming soon. We’ll continue to follow the story closely and bring you the news as it breaks.
What Do You Think?
Where do you think NVCR is headed moving forward? Join the discussion in the comments below or on StockTwits!
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