OAKLAND, Calif.--(BUSINESS WIRE)--Gibbs Law Group announces that a class action lawsuit has been filed on behalf of NovoCure Limited (NASDAQ: NVCR) investors. On June 6, 2023, NovoCure announced results from its Phase 3 LUNAR clinical trial that some doctors say may have included unreliable data, because not all study participants had been receiving standard of care therapy, according to Evaluate. Gibbs Law Group encourages NovoCure investors to contact us to discuss their legal rights and options.
To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.
On June 6, 2023, global oncology company NovoCure Limited presented results from its Phase 3 LUNAR clinical trial evaluating the safety and efficacy of its Tumor Treating Fields therapy. Doctors and attendees of a June 6 American Society of Clinical Oncology conference subsequently pointed out that the data set used in the study may not be fully reliable in showing clinical efficacy, because the therapy was mostly tested in patients whose conditions worsened following chemotherapy, which is no longer the standard of care, according to Investor’s Business Daily. One doctor who was present at NovoCure’s June 6 presentation stated that “the study design does not reflect the current standard of care,” with another doctor agreeing that “its relevance to the majority of patients in 2023 is yet to be demonstrated,” as reported by Evaluate.
NovoCure released 2023 Q2 financial results on July 27, 2023, reporting a $57.4 million loss in its’ second quarter. Yahoo Finance analysts noted that “[a]head of this earnings release, the estimate revisions trend for NovoCure: unfavorable,” and that the “shares are expected to underperform the market in the near future.”
On this news, NovoCure’s stock price plummeted 43% on June 6, 2023, causing significant harm to investors.
What Should NovoCure Limited Investors Do?
If you invested in NovoCure Limited visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether NovoCure Limited has violated federal securities laws by providing false or misleading statements to investors.
About Gibbs Law Group
Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.”
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