Why Did Novocure Shares Plunge Today? - Bayer (OTC:BAYRY), NovoCure (NASDAQ:NVCR), Bayer (OTC:BAYZF)

Novocure Ltd NVCR has announced final results from its phase 2 pilot HEPANOVA trial evaluating Tumor Treating Fields (TTFields) together with Bayer AG's BAYRY Nexavar (sorafenib) for hepatocellular cancer.
The trial enrolled 27 patients, and 21 were considered evaluable.
The objective response rate reached 9.5% in evaluable patients, and the disease control rate was 76%.
For the 11 patients who completed at least 12 weeks of TTFields therapy, the objective response rate was 18%, and the disease control rate was 91%.
Fourteen of the 27 patients in the trial had significant liver dysfunction.
Investors are probably reacting to six patients (22%) of the study population surviving less than 12 weeks. The median sorafenib treatment duration was only nine weeks, a much shorter treatment duration than the referenced historical controls. The median treatment duration of TTFields was ten weeks.
In the intent-to-treat population, median progression-free survival was 5.8 months, and median time-to-progression was 8.9 months.
No increase in the toxicity of sorafenib and no device-related serious adverse events were reported.
The final HEPANOVA results will be presented at the virtual ESMO World Congress on Gastrointestinal Cancer.
Tumor Treating Fields use electric fields to disrupt cell division. These Fields do not stimulate or heat tissue and target dividing cancer cells of a specific size, thus causes minimal damage to healthy cells.
Price Action: NVCR shares are down 14.3% at $190.05 during the market session on the last check Thursday.

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