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FDA Rejects NovoCure’s Optune Mya for Lung Cancer Brain Metastases. Here's What It Means for Investors.
The Motley Fool·
The FDA issued a not approvable letter for NovoCure's Optune Mya device for treating lung cancer brain metastases, citing uncertainty around clinical benefit despite no safety concerns. The rejection compounds investor concerns following lackluster Q3 earnings and competition from Revolution Medicines' newly approved Rasonque pill for pancreatic cancer. NovoCure's stock fell 7.34% on the news, and the analyst recommends against investing in the beaten-down equity.
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