Shares of NovoCure Limited (NVCR) surged nearly 40% on Monday morning on positive results of cancer therapy in a study of patients with pancreatic cancer.
NVCR is currently trading at $27.83, up $7.79 or 38.87%, on the Nasdaq. The stock opened its trading at $28.25 after closing Friday at $20.04. The stock has traded between $11.66 and $28.45 in the past 52-week period.
Zai Lab (ZLAB) and Novocure announced that the Phase 3 PANOVA-3 trial met its primary endpoint, showing a statistically significant improvement in median overall survival versus control.
PANOVA-3 evaluated the use of Tumor Treating Fields therapy concomitantly with gemcitabine and nab-paclitaxel as a first-line treatment for unresectable, locally advanced pancreatic adenocarcinoma.
Novocure plans to file for regulatory approval of TTFields in unresectable, locally advanced pancreatic adenocarcinoma based on PANOVA-3. Zai Lab plans to file for regulatory approval in China.
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