Is Novocure a Buy?
On April 13, Novocure (NASDAQ: NVCR) stock jumped after the company received a green light to accelerate a pivotal phase 3 study. The investigation involves its medical device, Optune, to treat advanced-stage non-small-cell lung cancer (NSCLC). Optune is a portable device that applies small alternating electric currents to cancer cells in the patients' bodies, disrupting their replication process and causing cell death. The electric currents' frequency is specifically tuned to target cancer cells while avoiding healthy ones.
In 2015, the U.S. Food and Drug Administration (FDA) approved Optune to treat glioblastoma, the most deadly form of brain cancer. Since then, Novocure's revenue has soared. Can it keep up its rate of growth in the future?
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