Why Novocure Stock Price 49.8% Soars Today

Novocure Stock

What happened With Novocure Stock

Novocure stock price (NASDAQ: NVCR) has experienced a 49.8% increase as of 10:12 a.m. on Thursday. This significant growth was due to the announcement of positive results from a clinical trial examining the effectiveness of the company’s TTFields therapy for stage 4 non-small cell lung cancer.

According to Novocure, the TTFields treatment combined with standard therapies was found to significantly improve overall survival rates compared to standard therapies alone in a phase 3 clinical trial. The company also reported that overall survival rates were higher at statistically significant levels for patients receiving TTFields in combination with immune checkpoint inhibitors, compared to those who only received immune checkpoint inhibitors.

So what With Novocure Stock

Positive clinical results often lead to an increase in healthcare stock prices. However, the significant increase in Novocure’s stock price was likely due to the potential financial impact of the favorable TTFields results.

TTFields therapy has already been approved for use in the treatment of glioblastoma, a type of brain cancer, and mesothelioma, a cancer linked to asbestos exposure, in various countries including the United States. The market for NSCLC, for which TTFields has shown promising results, is much larger. There are approximately 193,000 NSCLC diagnoses in the U.S. each year, which is nearly 15 times the number of glioblastoma diagnoses.

Now what With Novocure Stock

It is currently unclear how much the TTFields therapy improved overall survival rates in the late-stage clinical trial. Novocure stated that it plans to release the full data at a future medical conference. The company is expected to discuss the results in detail at the upcoming J.P. Morgan Healthcare Conference.

Novocure plans to submit regulatory applications for TTFields therapy in the treatment of NSCLC in the United States and European Union in the second half of this year.

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