Why NovoCure Stock Was Winning Big This Week
Cancer-targeting biotech NovoCure (NASDAQ: NVCR) had some highly positive news from the laboratory to deliver earlier this week, and investors couldn't grab hold of the stock fast enough. This momentum was helped by price target increases from analysts. According to data compiled by S&P Global Market Intelligence, those bullish market players propelled the stock nearly 33% higher week to date as of early Friday morning.
NovoCure's news broke on Monday, setting the tone for the remaining trading days of the week. The company, in collaboration with its partner Zai Lab, published a readout from a phase 3 clinical trial of its tumor treating fields (TTF) therapy.
This treatment, administered in conjunction with a pair of cancer drugs, was being evaluated for the treatment of unresectable, locally advanced pancreatic adenocarcinoma. NovoCure said the therapy met its primary endpoint, demonstrating a statistically significant improvement in survival for the study's participants versus a control group.
Source Fool.com
