SHANGHAI & CAMBRIDGE, Mass. - Zai Lab (NASDAQ:ZLAB) Limited (NASDAQ: ZLAB; HKEX: 9688) and its partner Novocure (NASDAQ: NVCR) announced positive results from the phase 3 METIS clinical trial, indicating that Tumor Treating Fields (TTFields) therapy, in combination with supportive care, significantly extends the time to intracranial progression in patients with brain metastases from non-small cell lung cancer (NSCLC).
The study met its primary endpoint, with patients receiving TTFields and supportive care experiencing a median time to intracranial progression of 21.9 months, compared to 11.3 months for those receiving supportive care alone.
The trial enrolled 298 adult patients who had 1-10 brain metastases from NSCLC following stereotactic radiosurgery (SRS). The median duration of TTFields therapy was 16 weeks, with a median usage of 67%. The therapy was reported to be well-tolerated, maintaining quality of life and neurocognitive function.
While preliminary analyses of key secondary endpoints, such as time to neurocognitive failure, overall survival, and radiological response rate, did not show statistical significance, some secondary endpoints suggested positive trends with TTFields therapy, particularly time to distant progression and quality of life. Further analysis of these secondary endpoints is ongoing.
Novocure plans to submit these data to regulatory authorities and intends to publish the findings in a peer-reviewed scientific journal, as well as present them at an upcoming scientific congress. Zai Lab contributed to the METIS trial, including treating the first patient in Greater China in May 2021.
TTFields therapy uses electric fields to target and kill cancer cells, with minimal impact on healthy cells. This treatment modality has shown potential when combined with other cancer treatments across various solid tumor types in preclinical models.
The success of the METIS trial could represent a significant advancement for patients with brain metastases from NSCLC, offering a new therapeutic option that aims to control intracranial disease while minimizing neurocognitive side effects. This is particularly relevant in China, where a substantial number of the approximately 740,000 patients diagnosed with NSCLC annually develop brain metastases during their illness.
This report is based on a press release statement from Zai Lab Limited and Novocure.
InvestingPro Insights
Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688) has recently shared promising results from its METIS clinical trial, which could potentially enhance the company's market position. Here are some insights drawn from InvestingPro that could provide a broader context for investors interested in Zai Lab's financial health and stock performance:
Despite the clinical advancements, Zai Lab's financial metrics reflect some challenges. The company's market capitalization currently stands at $1,574.8 million, and it has a negative P/E ratio of -6.06, indicating that it is not profitable as of the last twelve months up to Q4 2023. Moreover, the gross profit margin is significantly negative at -35.6%, underscoring the company's struggles with profitability. On the revenue front, Zai Lab has seen a growth of 24.03% over the last twelve months as of Q4 2023, a positive signal for potential investors.
InvestingPro Tips suggest that Zai Lab holds more cash than debt, which could provide some financial stability. However, analysts have revised their earnings downwards for the upcoming period, hinting at potential concerns about the company's future earnings. Additionally, the stock price has experienced a notable decline over various time frames, including a 37.77% drop over the last three months.
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