Novocure's share price shot up 55% on Thursday after it announced results of a trial of its electric fields technology on non-small cell lung cancer patients.
Novocure is one of the most successful biomed companies to have come out of Israel Its products are already sold for the treatment of glioblastoma, a cancer of the brain, and malignant pleural mesothelioma, a cancer of the lungs. The market for the indication in its most recent trial is substantially larger than for these two.
Following the announcement, Novocure’s share price shot up 55% on Thursday, although it fell back somewhat on Friday, by 8.22%, giving a market cap of $11.44 billion.
Source - Globes/Twitter - Image - Nasdaq OMX