ROOT, Switzerland - Novocure (NASDAQ: NVCR) reported today that its phase 3 METIS trial showed a significant delay in the progression of brain metastases in patients with non-small cell lung cancer (NSCLC) when treated with Tumor Treating Fields (TTFields) therapy. These findings are being presented at the American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago.
The trial included 298 adult patients who, after undergoing stereotactic radiosurgery (SRS), received either TTFields therapy alongside best supportive care (BSC) or BSC alone. The primary endpoint was met, with TTFields therapy patients experiencing a median time to intracranial progression of 21.9 months, compared to 11.3 months for those receiving BSC alone.
Quality of life measures also favored the TTFields group, with a median time to quality of life deterioration-free survival not yet reached, versus 7.7 months for the control group. Cognitive functioning was not negatively impacted by TTFields therapy, which was reported to be well-tolerated with no additive systemic toxicity.
While preliminary analyses of key secondary endpoints, such as median overall survival, did not show statistical significance, the full analysis of these endpoints is ongoing. Dr. Minesh Mehta, lead investigator and Chief of Radiation Oncology at Miami Cancer Institute, highlighted the potential of TTFields therapy to alter the treatment landscape for brain metastases from NSCLC due to its ability to extend the time to intracranial progression without impairing quality of life or cognitive function.
Novocure's Chief Medical Officer, Nicolas Leupin, emphasized the limited treatment options for patients with brain metastases from NSCLC and expressed eagerness to pursue regulatory steps to make TTFields therapy available to those in need.
The METIS trial, with its focus on the time to first intracranial progression and secondary endpoints including overall survival and neurocognitive function, aims to provide a new avenue of treatment for NSCLC patients with brain metastases. Novocure plans to publish the findings in a peer-reviewed scientific journal and submit the data to regulatory authorities.
This news is based on a press release statement.
InvestingPro Insights
Novocure's (NASDAQ: NVCR) recent announcement on the positive outcomes of its phase 3 METIS trial is a significant milestone for the company, potentially impacting its financial metrics and market valuation. With a market capitalization of approximately $2.37 billion and a substantial gross profit margin of 74.97% over the last twelve months as of Q1 2024, Novocure demonstrates strong financial health in terms of profitability from its core operations.
Despite the company not being profitable over the last twelve months, with an adjusted operating income of -$205.4 million, Novocure holds more cash than debt on its balance sheet, according to InvestingPro Tips. This positions the company to potentially weather financial uncertainties and invest further in research and development. Additionally, four analysts have revised their earnings upwards for the upcoming period, suggesting a positive outlook on the company's future earnings potential.
Investors should note that Novocure's stock has experienced significant price volatility, yet has shown a remarkable return over the last three months with a 35.45% increase. The strong return over the last month of 48.92% is particularly noteworthy, indicating a bullish sentiment among investors following the METIS trial results and other company developments. With these insights, investors can better assess the potential risks and rewards associated with Novocure's stock.
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