Novocure (NVCR), Inari (NARI) shares rise sharply on clinical data
Pancreatic cancer patients need new treatments because of the condition’s poor prognosis and the Tumor Treating Fields (TTFields) technology from Novocure (NASDAQ:NVCR) appears positioned to move forward quickly following phase III data disclosed on Monday, December 2, 2024.
Novocure said on Monday the company’s phase III PANOVA-3 trial met its primary endpoint, demonstrating a statistically significant improvement in median overall survival (mOS) versus the control arm. PANOVA-3 evaluated the use of TTFields therapy concomitantly with the anti-cancer agents gemcitabine and nab-paclitaxel as a first-line treatment for unresectable, locally advanced pancreatic adenocarcinoma.
In the intent-to-treat population, patients treated with TTFields therapy concomitant with gemcitabine and nab-paclitaxel demonstrated an mOS of 16.20 months compared to 14.16 months in patients treated with gemcitabine and nab-paclitaxel alone. The results yielded a statistically significant 2.0-month improvement (p=0.039).
We issued a report on the phase III PANOVA-3 trial in November 2024 when the company’s stock traded at $17.73 per share.
On December 2, the company’s shares closed at $30.60 per share, reflecting an increase of ~72.6% in 10 days.
The medical device company Inari Medical (NASDAQ:NARI) also recently disclosed positive data in its prospective PEERLESS randomized controlled trial comparing its FlowTriever device to catheter-directed thrombolytics (CDT). The company said the PEERLESS trial met its primary composite endpoint (win ratio 5.01, p<0.001), which was driven by patients experiencing significantly fewer clinical deteriorations or therapy escalations, fewer ICU admissions, and shorter ICU lengths of stay with FlowTriever versus CDT.
We issued a report on the PEERLESS trial in March 2024 when the company’s stock traded at $40.65 per share.
On December 2, the company’s shares closed at $51.82 per share, reflecting an increase of ~27.4%.
Disclosures: Discontinuing coverage and exiting parts of its positions in NVCR and NARI.