This lawsuit is for anyone who acquired securities in NovoCure Limited (NASDAQ: NVCR) from January 5, 2023 through June 5, 2023.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company would receive FDA approval for the Company’s skin patch to treat lung cancer when the Company knew that the FDA would not approve the treatment based on the Company testing the patch in a that way no doctor would actually use the patch based on the current standards of medical care.
On June 6, 2023, NovoCure announced “positive results” from the clinical trial evaluating its Tumor Treating Fields therapy in treating non-small cell lung cancer. However, analysts noted that the Company tested the therapy primarily in patients who worsened following chemotherapy, despite that doctors no longer first treat lung cancer with chemotherapy, instead first treating most patients with immune checkpoint inhibitors, thus sparking concern over whether the Company’s data reflects realistic results. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in NovoCure Limited (NASDAQ: NVCR) from January 5, 2023 through June 5, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
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hsmith@howardsmithlaw.com