By Ben Glickman

Shares of Novocure rose Thursday after U.S. regulators accepted a pre-market application for the company's lung-cancer therapy.

The stock was up 17% to $14.52 in recent trading. Shares are down 63% in the last six months.

The Root, Switzerland-based cancer-treatment developer said Thursday that the U.S. Food and Drug Administration had accepted its Premarket Approval application for the use of Tumor Treating Fields therapy to treat non-small cell lung cancer.

Novocure is expecting a decision from the FDA in the second half of 2024.

The company's trial data, which was submitted to the FDA for review, tested the safety and effectiveness of TTFields therapy in combination with standard systemic therapies in treating NSCLC following progression after receiving platinum-based therapy.

Write to Ben Glickman at

(END) Dow Jones Newswires

01-18-24 1055ET