NovoCure is an oncology company that has developed a therapy called Tumor Treating Fields, or TTFields, to treat solid tumor cancers. NovoCure's commercialized product, Optune, has been approved to treat adult patients with glioblastoma brain cancer.
On July 28, 2016, NovoCure divulged that its new Optune prescriptions dropped from 755 in the first quarter to just 657 in the second. Asaf Danziger, Chief Executive Officer of NovoCure, stated "[w]hile barriers to full adoption remain, I am optimistic we will overcome the challenges inherent in bringing a completely new therapy into widespread clinical use." Following this news, NovoCure stock dropped over 29% from a July 27, 2016 price of $11.44 to a July 28, 2016 price of $8.09.
If you are aware of any facts relating to this investigation, or purchased NovoCure shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/nvcr. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
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