NVCR - Why NovoCure Stock Soared 18.3% This Week
2024-03-30 06:34:10 ET
Shares of Novocure (NASDAQ: NVCR) jumped 18.3% this week, according to data from S&P Global Market Intelligence , after the company announced encouraging results from a phase 3 study of its Tumor Treating Fields (TTFields) therapy for treating brain metastases from non-small-cell lung cancer.
In a press release Wednesday, Novocure announced that its phase 3 METIS clinical trial met its primary endpoint by "demonstrating a statstically significant improvement in time to intracranialprogression" for patients treated with TTFields therpamy and supportive care compared to supportive care alone.
More specifically, Novocure says that patients receiving TTFields therapy in addition to supportive care in the late-stage study had a median time to intracranial progression of 21.9 months -- far improved from the 11.3 months for those treated only with supportive care such as nausea medications, steroids, and/or anticoagulants.
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Why NovoCure Stock Soared 18.3% This Week