Novocure Stock Soars Due to Lung Cancer Treatment Trial
Novocure stock is on the rise due to the acceleration of the company’s lung cancer treatment trial. In fact, an independent data monitoring committee (DMC) has high hopes for Novocure (Nasdaq: NVCR) and its breakthrough research for stage 4 non-small cell lung cancer.
Novocure Stock History and Background
Novocure was founded in 2000 by Professor Yoram Palti. And its mission is to treat and destroy cancer tumor cells while “sparing healthy tissue and avoiding many of the life-altering side effects of existing cancer therapies.”
In 2015, the innovative tumor treatment company went public on the Nasdaq. The initial public offering (IPO) came in at $22 a share and was worth over $165 million. However, the share price struggled to match projections in the early going.
Novocure stock fell as low as $5.95 within its first year on the market. But it’s been on a steady rise ever since.
Now, Novocure is making massive advancements in cancer treatment and the stock price is benefiting. In 2021, shares are trading for more than $130 and that number is rising quickly.
And this latest trial may take Novocure to the forefront of lung cancer treatment. Let’s take a closer look below.
Novocure’s LUNAR Trial Overview
Novocure is currently in Phase 3 of its LUNAR Trial of Tumor Treating Fields in stage 4 non-small cell lung cancer. This includes 210 patients that are under the study of an independent data monitoring committee.
The DMC has now informed Novocure that its trial will be accelerated due to its early results.
“We are very pleased with the DMC recommendations, which we believe support the potential for TTFields to make a significant difference in treatment outcomes for patients with non-small cell lung cancer, whether used together with immune checkpoint inhibitors or docetaxel,” said Novocure Executive Chairman William Doyle. “The accelerated interim analysis with an encouraging outcome adds to the accumulating evidence of Tumor Treating Fields’ broad potential across a range of hard-to-treat cancers.”
Specifically, Tumor Treating Fields are electric fields that disrupt cancer cell division. And as of now, there is no evidence of increased systemic toxicity in Novocure’s trial.
This is great news for the treatment of lung cancer. And it’s sure to benefit Novocure stock along the way. You may not want to miss out on this investment opportunity if the LUNAR trial continues to produce promising results.
Investing in Biotech Companies
The biotech industry is exploding at the moment. This is largely due to the COVID-19 pandemic and vaccine advancements.
However, there are a wide range of biotech companies that are producing groundbreaking results for the treatment of many diseases and conditions. This is why biotech stocks are a huge hit amongst investors and traders alike.
This includes oncology businesses and others who produce innovative medical devices. Novocure stock now joins a growing list of biotech companies to make headlines for its rampant success in the past year.
Should You Invest in Novocure Stock?
Do you want to invest in Novocure? If so, there may not be a better time. The company is grabbing a lot of attention for its LUNAR trial and all signs are pointing in the right direction.
The stock price is skyrocketing. Shares closed at $131.88 on Monday and are now over $210 within 24 hours.
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As you can see, now is the time to invest in the biotech industry. Novocure stock is now at the forefront of this boom and it may be a great addition to your portfolio.
About Corey Mann
Corey Mann is the Content Manager of Investment U. He has more than 10 years of experience as a journalist and content creator. Since 2012, Corey’s work has been featured in major publications such as The Virginian-Pilot, The Washington Post, CNN, MSNBC and more. When Corey isn’t focusing on Investment U, he enjoys traveling with his wife, going to Yankees games and spending time with his family.