nvcrNovocure Ltd (NASDAQ: NVCR) is climbing early on in the trading session this morning, and for good reason. The company announced the results of its STELLAR phase 3 clinical trial, which proved to be, well, stellar! Of course, the news excited investors, sending the stock screaming for the top. Today, we’ll talk about:
- The clinical update;
- what we’re seeing from NVCR; and
- what we’ll be watching for ahead.
NVCR Announces Clinical Results
As mentioned above, Novocure is having a strong start to the trading session this morning after the company announced an clinical update. In a recently issued press release, the company announced the final results from its STELLAR phase 2 registration trial. During the trial, the company assessed its Tumor Treating Fields plus standard of care chemotherapy compared to historical control of data of patients who received standard of care chemotherapy alone. During the study, the treatment was assessed as an option for patients with mesothelioma.
In the release, NVCR said that Malignant plerual mesothelioma patients who received Tumor Treating Fields with pemetrexed and cisplatin or carboplatin experienced a median overall survival rate of 18.2 months. Historical control median overall survival comes in at 12.1 months.
Tumor Treating Fields is a cancer therapy under development that was designed to use electric fields tuned to specific frequencies to disrupt cell division, inhibiting tumor growth and causning affected cancer cells to die.
In a statement, Giovanni Luca Ceresoli, MD, an investigator in the NVCR STELLAR trial, had the following to offer:
The final results of the STELLAR trial demonstrate an impressive extension of median overall survival in the treatment of malignant pleural mesothelioma with no increase in systemic toxicity… Mesothelioma patients face an urgent unmet need for additional therapies that improve survival. Based on these data, I believe Tumor Treating Fields represent an extremely promising therapeutic option that, if approved, should be added to standard of care chemotherapy for the treatment of malignant pleural mesothelioma.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn when we get to work is that the news moves the market. In the case of Novocure, the news proved to be overwhelmingly positive. With strong clinical results, the company will likely be announcing that they are progressing the development of the treatment soon. So, it comes as no surprise to see that excited investors are sending the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:00), NVCR is trading at $46.45 per share after a gain of $3.35 per share or 7.77% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on NVCR. In particular, we’re interested in following the continued development of Tumor Treating Fields and excited to learn about the next update. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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