Novocure Shares Soar 33% in Overnight Trading After FDA Approves Optune Lua Cancer Treatment
Shares of Novocure were trading 33.18% higher in overnight trading after the company said that the Food and Drug Administration had approved Optune Lua, its wearable treatment for certain types of lung cancer.
The Optune Lua system was approved for use with PD-1/PD-L1 inhibitors or docetaxel in adult patients with metastatic NSCLC who progressed on or after a platinum-based regimen, the company said. Results from a Phase 3 trial represent the first substantial improvement in median overall survival in more than eight years for this patient population, Novocure said.
The treatment delivers Tumor Treating Fields, which exert physical forces on the electrically charged components of dividing cancer cells, which results in cell death.
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