What is going on with NVS?
Novartis AG (NVS) stock fell today today after the company released health-related quality of life (HRQoL) data from its Phase III VISION study evaluating Lu-PSMA-617, an investigational targeted radioligand therapy. The trial evaluated Lu-PSMA-617 plus standard of care for metastatic castration-resistant prostate cancer (mCRPC) versus standard of care alone.
Shares of NVS declined 0.58% to $83.89 as of Friday at 9:37am.
In castration resistant prostate cancer (CRPC), prostate tumors show signs of growth, such as rising Prostate Specific Antigen (PSA) levels, despite the use of hormone treatments that lower testosterone.
Lu-PSMA-617 works by binding to prostate cancer cells that express PSMA, a transmembrane protein. Once bound, emissions from the radioisotope damage tumor cells.
What does this mean for Novartis?
The trial results were positive, with data from a HRQoL assessment of the VISION trial showing delayed worsening of difficult to bear symptoms in the Lu-PSMA-617 plus standard of care arm compared to standard of care alone arm.
“Patients with mCRPC suffer from many complications associated with advanced disease that can impact their quality of life,” said Jeff Legos, EVP, Global Head of Oncology & Hematology Development, Novartis.
“This new data emphasizes the potential impact on quality of life that investigational Lu-PSMA-617 may provide as a potential new treatment option, beyond previously reported improvements in overall survival and radiographic progression-free survival."
The results will be presented at the European Society for Medical Oncology (ESMO) Congress, which runs from 17-21 September 2021. Two additional studies with Lu-PSMA-617 radioligand for metastatic prostate cancer are ongoing.
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Novartis AG develops and manufactures healthcare products through two segments: Innovative Medicines and Sandoz. It generates the vast majority of its revenue from Innovative Medicines segment consisting global business franchises in oncology, ophthalmology, neuroscience, immunology, respiratory, cardio-metabolic, and established medicines. The firm sells its products globally, with the United States representing close to one third of total revenue.