NovoCure falls as analysts raise concerns over data for lung cancer therapy

NovoCure

06/06/2023 15:29

** Shares of drug developer NovoCure Ltd  NVCR.O  fall 27.2%
to $59.89
    ** Company says its experimental device to treat a type of
lung cancer showed a statistically significant improvement in
extending overall survival among patients in a late-stage study
    ** Data from the study showed the therapy, along with a
class of immunotherapies known as immune checkpoint inhibitors
(ICI), extended survival by 8 months compared to the patient
being treated with ICI alone
    ** However, analysts raise concerns that only a small group
of patients in the study were previously treated with ICI such
as Merck's  MRK.N  Keytruda, while it is now standard of care
and most patients go through it
    ** Only 2% of patients in the ICI arm had prior ICI
exposure, according to H.C. Wainwright & Co
    ** This raises the question of whether the therapy would be
equally effective in patients who already progressed on ICIs in
the first line setting, which would occur much more frequently
in the real-world setting - brokerage 
    ** Stock down ~18% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))