Futures Point Higher After Dow Snaps 3-Session Winning Streak; Cisco Systems Shares Sink After Earnings

Novocure Stock Surges on FDA Approval for Pancreatic Cancer Treatment

FROM 5 minutes ago

Novocure (NVCR) shares soared 25% before the bell Thursday, a day after the U.S. Food and Drug Administration approved its Optune Pax treatment for locally advanced pancreatic cancer.

The Switzerland-based firm said that Optune Pax “is the first treatment to be FDA approved in nearly 30 years for locally advanced pancreatic cancer.” Novocure added that it “is a wearable medical device that delivers Tumor Treating Fields (TTFields), alternating electric fields that disrupt cancer cell replication to cause cell death,” which is a new approach to treating pancreatic tumors.

“Systemic therapies have shown poor bioavailability in pancreatic tumors, limiting their effectiveness,” Novocure CEO Frank Leonard said. “Optune Pax is a fundamentally different treatment, utilizing a biophysical approach that targets the unique electrical properties of cancer cell.”

Novocure shares entered the day having lost more than half of their value over the past 12 months.

Stock Futures Point Higher After Dow Pulls Back From Record

FROM 35 minutes ago

Futures contracts connected to the Dow Jones Industrial Average were 0.3% higher.

S&P 500 futures also pointed up 0.3%.

Nasdaq 100 futures also rose 0.3%.