Novocure (NASDAQ:NVCR), a company focused on developing new treatments for solid tumors, on Oct. 16 announced that the U.S. based FDA has approved their Optune Lua device for NSCLC metastatic cancer treatment.

Optune Lua is a wearable device for which tumor-treating fields (TTFields) inhibit the proliferation and metastasis of lung cancer cells. This innovative technology is based on the use with low intensity and with continuity of electric fields that operate with different frequencies and it has been presented in some clinical trials.

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This approval is based on the LUNAR Phase 3 study and the patients with Optune Lua with checkpoint inhibitors or docetaxel realized a notable improvement in overall condition than of patients with standard therapy alone. The FDA's approval of the product may open up the potential of this groundbreaking treatment for NSCLC patients.

However, a number of analysts have been skeptical about the commercial prospects of Optune Lua and consider the device may be too expensive and may not easily receive reimbursement.

Pharmaceuticals is a capital-intensive industry that requires huge initial investment because most new drugs have to go through extensive and expensive clinical trials before they can be sold to the public. But the opportunities are enormous and the potential for fabulous margins in this field are available for those whose products can solve the problems of patients in the world.

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This article first appeared on GuruFocus.