Novocure (NASDAQ:NVCR) shares are down nearly a third Monday after a Phase 3 study of its Tumor Treating Fields therapy was reported to have failed.
The stock hit a 52-week low after the company announced the study of patients with recurrent ovarian cancer did not meet its primary endpoint of overall survival.
Patients either received TTfields in combination with the drug paclitaxel or paclitaxel alone. Those who received a combination therapy had a median overall survival of 12.2 months, compared with 11.9 months in patients treated with paclitaxel alone.
Novocure (NASDAQ:NVCR) stock swooned nearly 33% to $20.02.
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