Novocure Stock Price, News & Analysis

Novocure (NASDAQ: NVCR) announced a clinical trial collaboration with MSD to study Tumor Treating Fields (TTFields) combined with KEYTRUDA for newly diagnosed glioblastoma (GBM) patients. This collaboration builds on previous positive results from the 2-THE-TOP phase 2 pilot study, which showed median overall survival of 25.2 months. The new trial will be double-blind and placebo-controlled, aiming to enhance treatment options for aggressive cancers. Novocure plans to engage with the FDA regarding the study details soon.

Novocure reported Q1 2022 net revenues of $137.5 million, marking a 2% increase from Q1 2021, with an 80% gross margin. The company aims for a transformational year with significant clinical milestones anticipated, including data releases from multiple studies and the completion of its third pivotal study within 12 months. Despite a net loss of $4.6 million and a loss per share of $0.04, investments in marketing and clinical trials suggest future growth potential.

Novocure has commenced construction on its new flagship facility in Portsmouth, NH, enhancing its operational capacity and creating hundreds of jobs. Governor Chris Sununu and company executives acknowledged the significance of this expansion for the local economy and healthcare innovation, particularly for cancer treatment. The facility will serve as a training center for Novocure's Tumor Treating Fields technology. The company's growth in Portsmouth reflects its commitment to addressing the healthcare needs of cancer patients globally.

Novocure (NASDAQ: NVCR) announced 19 presentations on Tumor Treating Fields (TTFields) at the AACR Annual Meeting 2022 in New Orleans, from April 8-13, 2022. The research spans 10 tumor types, showcasing the potential for TTFields in various solid tumors. Highlights include studies on TTFields' efficacy with PARP inhibitors and its effect on the blood-brain barrier. CEO Dr. Uri Weinberg emphasized the significance of this ongoing research, indicating a broad applicability of TTFields in cancer treatments. The global development program spans multiple clinical trials across various cancer types.

Novocure (NASDAQ: NVCR) will report its Q1 2022 financial results on April 28, 2022, before U.S. markets open. The management will host a conference call at 8 a.m. EDT on the same day to discuss these results. Analysts and investors can join the call via specific dial-ins provided in the release. Novocure focuses on extending survival for aggressive cancers through its Tumor Treating Fields therapy, with products approved for glioblastoma and malignant pleural mesothelioma, while also investigating other cancers. Details will be available on their Investor Relations website.

Novocure (NASDAQ: NVCR) announced promising results from the 2-THE-TOP phase 2 pilot trial for treating newly diagnosed glioblastoma (GBM) using Tumor Treating Fields (TTFields), pembrolizumab, and temozolomide. Patients in the trial experienced a median progression-free survival of 12.1 months, significantly better than the 7.9 months seen in a matched-control group from the EF-14 trial. Moreover, overall survival was 25.2 months versus 15.9 months for controls. These findings will be presented at WFNOS 2022, with Dr. David Tran leading the discussion.

Novocure announced that the INNOVATE-3 study evaluating Tumor Treating Fields (TTFields) combined with paclitaxel for platinum-resistant ovarian cancer has successfully passed a pre-specified interim analysis. An independent data monitoring committee recommended proceeding to final analysis without sample size adjustments. Approximately 16,000 patients are diagnosed annually in the U.S. with this form of cancer, highlighting a significant unmet need. The trial's primary endpoint focuses on overall survival, with results expected in 2023.

Novocure (NASDAQ: NVCR) announced that its Founder and CTO, Yoram Palti, has received the prestigious 2022 Israel Prize for entrepreneurship and technological innovation. The award honors individuals who've made significant contributions to Israeli society. Professor Palti invented Tumor Treating Fields, a technology utilizing electric fields to disrupt cancer cell division, with more than 22,000 patients treated globally. This recognition underscores Palti's pioneering work in cancer therapy, which is currently approved for treating glioblastoma and mesothelioma.

Novocure (NASDAQ: NVCR) announced the resignation of General Counsel Todd Longsworth, effective March 31. Longsworth, who joined the company a decade ago, played a crucial role in its transition to a public entity and was instrumental in financing efforts in 2020. He will remain as a Senior Legal Advisor for a year to ensure a smooth transition. Barak Ben Arye, currently the Vice President of EMEA Counsel, has been appointed as the new General Counsel starting April 1. Novocure continues to focus on developing Tumor Treating Fields to aid cancer treatment.