Why Is Cancer Focused-Novocure's Stock Plunging Today?

Novocure Ltd NVCR shares are falling after the company's phase 3 ENGOT-ov50 / GOG-3029 / INNOVATE-3 clinical trial of Tumor Treating Fields (TTFields) together with paclitaxel in patients with platinum-resistant ovarian cancer did not meet its primary endpoint of overall survival (OS) at the final analysis. 

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 causing minimal damage to healthy cells.

Patients randomized to receive TTFields therapy plus paclitaxel (n=280) demonstrated a median OS of 12.2 months versus a median OS of 11.9 months in patients treated with paclitaxel alone (n=278) (HR: 1.008). 

Consistent with previously reported studies, TTFields therapy was well-tolerated with no added systemic toxicities.

The ENGOT-ov50 / GOG-3029 / INNOVATE-3 trial enrolled patients with a maximum of five total prior lines of systemic therapy. An analysis of exploratory subgroups suggests a potential survival benefit in patients who received only one prior line of therapy. 

This signal could merit further exploration given the unmet need for the ~20% of ovarian cancer patients who have a limited response to frontline platinum-based treatment. 

Full evaluation of the data from the ENGOT-ov50 / GOG-3029 / INNOVATE-3 trial, including subgroup analyses, is ongoing.

In June, Zai Lab Limited ZLAB and Novocure presented results from the phase 3 LUNAR trial evaluating TTFields therapy together with standard therapies for non-small cell lung cancer at the 2023 American Society of Clinical Oncology Annual Meeting. 

Price Action: NVCR shares are down 32.1% at $20.25 on the last check Monday.