NVCR - Down 31% in 1 Day What's Next for NovoCure Stock?
2023-09-04 09:30:00 ET
After its stock fell 31% on Aug. 28, leaving it down by 72% in the last 12 months, NovoCure (NASDAQ: NVCR) shareholders are bound to be quite displeased. The cancer-treating device maker remains unprofitable despite having its Optune portable therapy machine approved for sale in the U.S. as an adjunct treatment for glioblastoma and also mesothelioma.
The culprit for the stock's sharp drop was a failure of its device to improve patient survival in a phase 3 clinical trial for treatment-resistant ovarian cancer. Now, investors are right to question whether the company's other late-stage trials are at risk of a similar fate.
Let's examine its financial position as well as its remaining pipeline to get a sense about what's at stake and when key catalysts will occur.
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Down 31% in 1 Day, What's Next for NovoCure Stock?