NVCR - Why Novocure Stock Is Skyrocketing Today
Shares of Novocure (NASDAQ: NVCR) are skyrocketing 49.8% higher as of 10:12 a.m. ET on Thursday. The huge jump came after the company announced the results from a late-stage clinical study evaluating its Tumor Treating Fields (TTFields) therapy in treating stage 4 non-small cell lung cancer (NSCLC).
Novocure reported that TTFields in combination with standard therapies met the primary endpoint of the phase 3 study by achieving statistically significant improvement in overall survival compared to standard therapies alone. The company also said that overall survival rates were higher at statistically significant levels for patients who received TTFields in combination with immune checkpoint inhibitors compared to those who received immune checkpoint inhibitors alone.
Healthcare stocks typically enjoy a nice bump after the announcement of positive clinical results. But the impressive size of Novocure's gain was due to the financial implications of the good news for TTFields.
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Why Novocure Stock Is Skyrocketing Today