Shares of Novartis (NYSE: NVS) were on an upswing in pre-market trading on Monday after the pharma giant announced the results of the Phase III Natalee trial evaluating Kisqali (ribociclib) plus endocrine therapy (ET). This trial indicated that Kisqali significantly reduced the risk of breast cancer recurrence in women diagnosed at an early stage of the disease.
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The company stated in its press release, “The Independent Data Monitoring Committee recommended stopping the trial early as the primary endpoint of invasive disease-free survival (iDFS) has been met. Kisqali plus ET significantly reduced the risk of disease recurrence, compared to standard adjuvant ET alone, with consistent benefit in patients with stage II and stage III EBC regardless of nodal involvement.”
Year-to-date, NVS stock has dropped by more than 6%.