NVCR Stock Slips Despite PMA Application to Treat Pancreatic Cancer

Company Overview - NovoCure Limited (NVCR) submitted a premarket approval (PMA) application to the FDA for Tumor Treating Fields (TTFields) therapy aimed at treating locally advanced pancreatic cancer, with a decision expected in the second half of 2026 [1][9] - The PMA submission is a significant milestone for NovoCure, likely enhancing its position in the global oncology market [2] Financial Performance - NovoCure currently has a market capitalization of $1.33 billion and a price-to-sales (P/S) ratio of 2.1, which is lower than the industry average of 5.8 [4] - In the last reported quarter, NVCR achieved an earnings surprise of 7.7% [4] - The company reported a 5.6% year-over-year increase in total net revenues for the second quarter of 2025, driven by active patient growth [8] Clinical Development - The PMA application is supported by the PANOVA-3 trial, which assessed TTFields therapy in combination with gemcitabine and nab-paclitaxel as a first-line treatment for adults with unresectable, locally advanced pancreatic adenocarcinoma [5] - The PMA for pancreatic cancer is submitted as a supplement to the existing PMA for Optune Lua, which is currently indicated for non-small cell lung cancer [6] Market Potential - The global pancreatic cancer treatment market is projected to grow from $2.92 billion in 2024 to $5.84 billion by 2030, at a compound annual growth rate (CAGR) of 12.3% [7] - Factors such as the rise in lifestyle-related diseases and an aging population are expected to drive market growth, presenting significant opportunities for NovoCure [7] Stock Performance - Following the announcement of the PMA submission, NVCR shares declined by nearly 1.3% [3] - Over the past year, NVCR's stock has decreased by 33.2%, compared to a 14% decline in the industry and a 13.8% gain in the S&P 500 [10]