Why Is Cancer Focused-Novocure's Stock Plunging Today?
Portfolio Pulse from Vandana Singh
Novocure Ltd's stock is falling after its phase 3 clinical trial of Tumor Treating Fields (TTFields) in patients with platinum-resistant ovarian cancer did not meet its primary endpoint of overall survival. The trial showed a median overall survival of 12.2 months for patients treated with TTFields therapy plus paclitaxel, versus 11.9 months for patients treated with paclitaxel alone. The company's shares are down 32.1% at $20.25.
August 28, 2023 | 6:03 pm
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Novocure's stock price is falling due to the failure of its phase 3 clinical trial of TTFields in ovarian cancer patients to meet its primary endpoint.
The failure of a phase 3 clinical trial is a significant setback for any pharmaceutical company, as it indicates that the drug or treatment being tested may not be as effective as hoped. This can lead to a decrease in investor confidence, resulting in a drop in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Zai Lab Limited was mentioned in relation to its previous collaboration with Novocure on the phase 3 LUNAR trial.
Zai Lab was mentioned in the context of a previous collaboration with Novocure. However, the news does not provide any new information or developments related to Zai Lab, so the impact on its stock price is likely to be minimal.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20