Why Did Novocure Shares Plunge Today?
- Novocure Ltd (NASDAQ: NVCR) has announced final results from its phase 2 pilot HEPANOVA trial evaluating Tumor Treating Fields (TTFields) together with Bayer AG's (OTC: BAYRY) Nexavar (sorafenib) for hepatocellular cancer.
- The trial enrolled 27 patients, and 21 were considered evaluable.
- The objective response rate reached 9.5% in evaluable patients, and the disease control rate was 76%.
- For the 11 patients who completed at least 12 weeks of TTFields therapy, the objective response rate was 18%, and the disease control rate was 91%.
- Fourteen of the 27 patients in the trial had significant liver dysfunction.
- Investors are probably reacting to six patients (22%) of the study population surviving less than 12 weeks. The median sorafenib treatment duration was only nine weeks, a much shorter treatment duration than the referenced historical controls. The median treatment duration of TTFields was ten weeks.
- In the intent-to-treat population, median progression-free survival was 5.8 months, and median time-to-progression was 8.9 months.
- No increase in the toxicity of sorafenib and no device-related serious adverse events were reported.
- The final HEPANOVA results will be presented at the virtual ESMO World Congress on Gastrointestinal Cancer.
- Tumor Treating Fields use electric fields to disrupt cell division. These Fields do not stimulate or heat tissue and target dividing cancer cells of a specific size, thus causes minimal damage to healthy cells.
- Price Action: NVCR shares are down 14.3% at $190.05 during the market session on the last check Thursday.
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