E Electric Cancer Cure

Today we were winners thanks to several stock surprises, notably about a recent drug company small-cap purchase. Most US stocks were down on fear of inflation and financial risks but then rose after lunch. No idea why.

The market initially brushed off a Department of Labor report on the March consumer price index rising 0.6% vs forecasts of a rise of 0.5% because there was a single commodity cause: higher gasoline prices. This is a rise that hits almost the entire economy, but in theory, this was a one-off. I would love to start today's blog with developments in the oil patch, but the truly astonishing good news means a focus on pharma.

Business newspaper article

image source

Drug stocks

*Novacure, the Israeli developer of novel electricity field cancer treatments run from the UK Channel Islands, which I recommended after finding that it offered a possible cure for the pancreatic cancer which later killed my British book-dealer cousin Caryl, today soared 81% in the pre-market. It lost traction after we bought because it did a secondary debt offering in Tel Aviv. Late yesterday the independent Data Monitoring Committee recommended that the US FDA and NVCR shorten the time frame and the number of patients in its non-small-call lung cancer trial of people who did not respond to platinum treatment to 276 patients rather than 534, as the longer trial would be unfair to those not given the electric field treatment.

NVCR doesn't itself know which patients got which. But those given only docetaxel or checkpoint inhibitors had such worse outcomes in the “Lunar” trial that they should now be given the electricity option. The trial will now be completed over a year earlier. It looks like the system developed by retired Technion professor Yoram Palti, 82, has potential. Expecting a loss, I had a limit order to sell from my main account exercised today but the share remains in my IRA.

*Israeli Compugen rose 5.47% today on no news except the above. CGENBiolineRX fell 0.8%. TEVA fell 1.51%.

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