The increase added to a sharp rally for shareholders, who've seen their stock more than double so far in 2018.
Last month's rally continued a streak of rising optimism on Wall Street about Novocure's growth potential as its approach to cancer therapy gains traction in the healthcare industry. Electric field therapy is seeing strong prescription trends for certain types of brain cancer, but its potential applications don't end there. In fact, Novocure announced in mid-August that it is launching a new study aimed at assessing the effectiveness of its treatment on pancreatic cancer, one of the deadliest types of cancer.
If the trial demonstrates improved survival rates, then Novocure's addressable market will likely extend far beyond its current footprint of mostly glioblastoma patients. But investors have to balance that promising potential against the company's rich valuation, given that shares are trading at a heady 20 times the past year's revenue following last month's rally.