Novocure Stock Price, News & Analysis

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.

Novocure (NASDAQ: NVCR) announced a new study in the Journal of Clinical Investigation, revealing that Tumor Treating Fields (TTFields) activate anti-tumor immune responses with limited systemic toxicity. The research indicates TTFields can complement existing immunotherapy treatments for solid tumors by inducing a pro-inflammatory immune response. Preliminary results from the 2-THE-TOP clinical study show promising progression-free survival in patients treated with TTFields and anti-PD-1 therapy. This supports TTFields' potential role in enhancing cancer treatment modalities.

Novocure (NVCR) reported full year 2021 net revenues of $535 million, up 8% year-over-year, with fourth quarter revenues at $133.2 million. The company invested a record $201 million in research and development. Despite no material revenue from Medicare backlog this quarter, the gross margin stood at 78%.

A net loss of $26.5 million was recorded for the quarter, with an adjusted EBITDA of $1.7 million. The company anticipates active patient growth of 2% to 5% in 2022.

Novocure (NVCR) reported preliminary full-year 2021 net revenues of $535 million, an increase of 8% from the previous year, with fourth-quarter revenues of $133 million. The company noted no significant revenue from its Medicare backlog in Q4 2021, contrasting with $11 million from prior claims in Q4 2020. An interim analysis for the INNOVATE-3 ovarian cancer trial is expected in early Q2 2022. Novocure forecasts active patient growth of 2%-5% in 2022 and has $937.7 million in cash equivalents as of December 31, 2021.

Novocure (NASDAQ: NVCR) will participate in the 40th Annual J.P. Morgan Virtual Healthcare Conference from January 10-13, 2022. Executive Chairman William Doyle is scheduled to present on January 11 at 7:30 a.m. EST, addressing analyst questions. Additionally, Doyle and CFO Ashley Cordova will engage in one-on-one meetings with investors during the event. A live audio webcast and related materials will be available on Novocure's Investor Relations page for 14 days post-event. Novocure focuses on extending survival for aggressive cancers through its Tumor Treating Fields technology.

Novocure (NASDAQ: NVCR) has signed a $9.5 million purchase agreement to acquire an office building in Portsmouth, New Hampshire, to support its growing workforce of over 1,100 employees. This new facility will include a training and development center for physicians to learn about Novocure’s Tumor Treating Fields technology. The total investment, including construction, is estimated at $14.5 million, with closing expected by December 31, 2021. This expansion highlights Novocure's commitment to its U.S. roots and its role in the global oncology market.

Novocure (NASDAQ: NVCR) announced the 4th Annual AACR-Novocure Grants for Tumor Treating Fields Research Program, totaling over $2 million in grants and awards over three years. This program, in collaboration with the American Association for Cancer Research (AACR), will fund five research grants of $250,000 each and two career development awards of $225,000 each. The focus is on innovative TTFields research to enhance treatment strategies. The application deadline is January 20, with winners announced at the AACR Annual Meeting in April.

Novocure (NASDAQ: NVCR) announced its participation in two investor conferences: the 33rd Annual Piper Sandler Healthcare Conference on November 30, 2021, and the 4th Annual Evercore ISI HealthCONx Conference on December 2, 2021. Executive Chairman William Doyle and CFO Ashley Cordova will participate in a fireside chat and one-on-one investor meetings at the Piper Sandler event, while Cordova and Chief Commercial Officer Pritesh Shah will hold meetings during the Evercore ISI conference. A live audio webcast will be available on Novocure's Investor Relations page.