Shares of NovoCure Limited (NASDAQ: NVCR) skyrocketed 49.63% during the trading session of Tuesday. The strong performance of the firm has highlighted the positive sentiments of the investors after the firm has shared the update on Phase III Pivotal LUNAR study in stage 4 non-small cell lung cancer (NSCLC) after platinum failure.
Shares of NovoCure surged 49.63% as the firm gained +65.45 during the trading session of Tuesday. NVCR has recorded a trading volume of 16.57 million as compared to the average volume of 704.85K. In the past 52-weeks of trading, the share of the firm went up 256.19% and 1.32% from its 52-weeks low and high range.
The detailed review of the autonomous data monitoring committee (DMC) has notified NovoCure and gave a green signal to the firm that now is the time that it should speed up its LUNAR trial. The committee recommended the firm commence the trial with fewer patients. The committee said that NVCR doesn't necessarily have to attain 534 patients with 18 months of research.
On the other hand, the advisory committee recommended that the firm test 276 sufferers with 12 months of research time. Additionally, the committee has also suggested the firm change the design of the study.
NVCR has also disclosed that it has informed the U.S. FDA of the DMC suggestions. The firm is planning to submit an IDE supplement including the suggested protocol modifications. This is the greatest accomplishment for the company. The firm is confident that the usage of TTFields along with other cancer cures, including immunotherapies, could result in improved results for some sufferers.
LUNAR is a phase 3 pivotal study. It is the experimentation that checks the efficacy of TTFields in conjunction with the immune checkpoint inhibitors or docetaxel versus immune checkpoint inhibitors or docetaxel individually for sufferers with stage 4 NSCLC who advanced during or after platinum-based therapy.