Novocure jumps on FDA approval for lung cancer treatment

NovoCure

16/10/2024 10:31

** Shares of cancer therapy developer Novocure  NVCR.O  rise
33% to $23.65 before the bell
    ** U.S. Food and Drug Administration approves company's
portable device, Optune Lua, in combination with either
chemotherapy or immunotherapy, for patients with a type of lung
cancer
    ** NVCR's Optune Lua delivers so-called tumor treating
fields therapy that uses low-energy electrical fields to prevent
cancer cells from growing and dividing
    ** Approval is based on results of a late-stage study, in
which treatment with Optune Lua helped extend the average time
patients lived without their disease progressing by 13.2 months
vs 9.9 months for patients who received only chemotherapy or a
type of cancer immunotherapy
    ** As of last close, NVCR up about 19% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))