Novocure device fails in late-stage ovarian cancer trial, shares slump
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[August 29, 2023]
(Reuters) -Novocure said on Monday its therapy failed in a
late-stage trial to meet the main goal of improving survival rates in
patients with a type of ovarian cancer, dragging shares of the company
down to a five-year low.
A separate trial in June in a type of lung cancer patients raised
concerns about the commercial success of the device, which in
combination with certain chemotherapies and immunotherapies helps in
creating electric fields that disrupt cancer cell growth.
![](http://archives.lincolndailynews.com/2023/Aug/29/images/ads/current/elkhart_grain_sda_FAIR_2023.png)
The results from the studies raise more questions into the potential
revenue stream for the company, said H.C. Wainwright analyst Emily
Bodnar.
Shares of the therapy developer were down 31.4% to $20.44 in morning
trade.
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![](http://archives.lincolndailynews.com/2023/Aug/29/images/ads/current/debbiesflora_lda_081123.png) The combination therapy on Monday
showed an overall survival rate of 12.2 months, not significantly
higher than the 11.9 months in patients who were treated only with
paclitaxel - the chemotherapy it was combined with.
The company also noted that a subgroup analysis
suggests a potential survival benefit in patients who received only
one prior line of therapy, adding that the full evaluation of the
study was ongoing.
Bodnar said there is not much of an opportunity in the ovarian
cancer indication unless the company initiates new late-stage trials
focusing on the smaller subgroup.
(Reporting by Sriparna Roy in Bengaluru; Editing by Nivedita
Bhattacharjee and Shinjini Ganguli)
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