NovoCure shares fell 20% in a single day after the Phase 3 TRIDENT trial showed that starting Tumor Treating Fields therapy earlier in newly diagnosed glioblastoma did not significantly extend overall survival compared with the maintenance start approach. The stock now trades at $14.28, well below a widely followed fair value estimate of $26.07, implying a potential undervaluation of 45.2%. That fair value estimate is built on explicit revenue and margin assumptions tied to potential regulatory approvals and market expansion beginning in 2026, driven by validation of TTFields therapy in indications such as pancreatic cancer and brain metastases from non-small cell lung cancer. Despite the recent drop, the 90-day share price return remains up 20.91%, while the one-year total shareholder return is down 14.44% and longer-term returns over three and five years show steeper declines.
Novocure LtdPhase 3 TRIDENT trial failed to show significant survival benefit for TTFields therapy in newly diagnosed glioblastoma.