What happened
In the biotech world, investors often heave a sigh of relief when an important clinical goal is met. That was the case Wednesday with oncology specialist Novocure (NVCR 4.08%), which enjoyed an almost 2% rise in its share price on the day, beating the S&P 500 index's 0.3% gain.
So what
Novocure announced that it has completed enrollment in its upcoming Panova-3 study of its Tumor Treating Fields product (TTFields). The clinical trial will gauge the efficacy of TTFields when administered in combination with chemotherapy treatments nabpaclitaxel and gemcitabine to fight locally advanced pancreatic cancer.
The next step for Novocure's trial is for an independent data monitoring committee to perform a pre-specified interim analysis. The study's subjects will be followed for at least 18 months, the biotech added. The study has been designed to track 556 adult patients.
In its press release trumpeting the news, Novocure said that around 43,000 people in the U.S. alone are diagnosed with unresectable pancreatic cancer annually, and the five-year survival rate has been stagnant at 10%.
It quoted its CEO Asaf Danziger as saying that the company's latest piece of news from the laboratory "marks a critical milestone for our company and potentially for patients suffering from this deadly disease."
"We are proud to be adding to the evolving clinical research and are excited at the prospect of improving patient survival," Danziger added.
Now what
The completion of the study's enrollment breathed some new energy into Novocure stock, particularly after last-month's executive-suite shakeup at the company. But as ever with biotechs, much will depend on the results and outcome of the study.
