Novocure shares jump after trial meets primary endpoint

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Novocure shares jump after trial meets primary endpoint
Credit: © Reuters.

Shares of Novocure (NVCR) jumped Wednesday after the company reported before the open that its phase 3 METIS clinical trial met its primary endpoint.

The company's lung cancer demonstrated the slowing in the progression of cancer to the brain in patients with a type of lung cancer.

NCVR shares surged around 33% premarket. It is now trading 9.3% higher at $14.28 per share.

The company did state that preliminary analyses of key secondary endpoints (time to neurocognitive failure, overall survival, and radiological response rate) did not demonstrate statistical significance, while certain secondary endpoints showed positive trends in favor of treatment with TTFields therapy, including time to distant progression and quality of life.

Asaf Danziger, Novocure's CEO, said: "We are so pleased with the positive outcome of this trial and encouraged by TTFields' performance."

The company said it intends to submit the data to regulatory authorities. It will also to publish these findings in a peer-reviewed scientific journal and share them at an upcoming scientific congress.

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