Why Novocure Stock Is Sliding Today

Shares of Novocure (NASDAQ: NVCR) were sliding 15.1% lower as of 11:05 a.m. EDT on Thursday. The decline came after the company announced final results from its phase 2 study evaluating a combination of its Tumor Treating Fields (TTFields) therapy with sorafenib in treating advanced liver cancer.

Based on the sell-off of the biotech stock today, you might think that Novocure reported horrible results from its phase 2 study. That really wasn't the case, though.

The company said the disease control rate (the percentage of patients whose tumors shrank or remained stable over a period of time) was 76%. Novocure announced that the objective response rate (the percentage of patients whose tumors shrank or disappeared) was 9.5% in the intent-to-treat population. Both results were much higher than the historical controls.

Source Fool.com