Novocure Stock Price, News & Analysis

Novocure (NASDAQ: NVCR) announced the election of Dr. Allyson J. Ocean to its Board of Directors. Dr. Ocean is a prominent medical oncologist with expertise in gastrointestinal oncology, currently serving at Weill Cornell Medicine. Her role is expected to enhance Novocure’s mission to extend survival in aggressive cancers through innovative therapies. She is also co-founder of a non-profit focused on pancreatic cancer treatment access. Novocure is known for its Tumor Treating Fields, a revolutionary therapy approved for conditions such as glioblastoma and malignant pleural mesothelioma, with ongoing studies in various cancers.

Novocure (NASDAQ: NVCR) reported its financial results for Q4 and the full year 2022, achieving net revenues of $538 million for the year and $128 million for the quarter. The pivotal LUNAR study in non-small cell lung cancer successfully met its primary and secondary overall survival endpoints. Novocure completed enrollment for the pivotal PANOVA-3 study in pancreatic cancer and is nearing completion of the METIS study in brain metastases. Despite a 4% revenue decline in Q4, the company reported a 78% gross margin and held $969 million in cash as of December 31, 2022.

Novocure (NASDAQ: NVCR) has completed patient enrollment in the pivotal PANOVA-3 study, assessing the efficacy of Tumor Treating Fields (TTFields) combined with nab-paclitaxel and gemcitabine in treating locally advanced pancreatic cancer. With approximately 43,000 annual diagnoses in the U.S. and a stagnant five-year survival rate of just 10%, this study represents a significant milestone. The trial will follow patients for at least 18 months, focusing on overall survival as the primary endpoint and several secondary endpoints. The results, expected in 2024, could offer hope for improving survival rates in this challenging cancer type.

Novocure (NASDAQ: NVCR) announced key organizational changes effective January 17, 2023, aiming for growth. Pritesh Shah will become Chief Growth Officer, overseeing product strategy and market access. Ely Benaim will leave as Chief Medical Officer, with interim leadership transitioning to Piet Hinoul. Uri Weinberg becomes Chief Innovation Officer, while Moshe Giladi steps into Chief Science Officer. CEO Asaf Danziger noted the recent positive developments in pivotal studies, signaling a transformative period for the company. Novocure focuses on expanding its Tumor Treating Fields therapy for various cancers.

Novocure (NASDAQ: NVCR) reported preliminary net revenues of $538 million for 2022, with Q4 revenues at $128 million. The successful LUNAR study showed a significant improvement in overall survival for non-small cell lung cancer patients. Active patients on therapy reached 3,430 by year-end 2022. Cash reserves stood at $969 million. The company is set to present at the J.P. Morgan Healthcare Conference on January 10, 2023.

Novocure's LUNAR study achieved its primary endpoint, showing significant improvement in overall survival for stage 4 NSCLC patients treated with Tumor Treating Fields (TTFields) alongside standard therapies.

The study revealed that TTFields combined with immune checkpoint inhibitors (ICI) and docetaxel led to better survival rates compared to standard treatments alone. Novocure plans to submit a Premarket Approval application to the FDA and a CE Mark application in the second half of 2023. This marks a pivotal moment in treating late-stage lung cancer, addressing a critical unmet need.

Novocure (NASDAQ: NVCR) will participate in the 41^st Annual J. P. Morgan Healthcare Conference on January 10-11, 2023. Executive Chairman William Doyle will speak at 7:30 a.m. PST on January 10, 2023, addressing analysts' questions. Additionally, Doyle and CFO Ashley Cordova will hold one-on-one meetings with investors. A live audio webcast of the presentation will be available on Novocure's Investor Relations page, along with a replay for at least 14 days post-event. Novocure focuses on extending survival in aggressive cancers through its innovative Tumor Treating Fields therapy.

Health Canada has approved Optune for glioblastoma, marking the first such treatment in Canada in over 12 years. Novocure aims to secure reimbursement for Optune to enhance accessibility for patients. Optune utilizes Tumor Treating Fields to disrupt cancer cell division, with 25,000 patients treated globally. Clinical trials show improved overall survival of 20.9 months with Optune and temozolomide, versus 16 months with temozolomide alone. The approval is seen as a significant advancement for GBM treatment in Canada.

Novocure (NASDAQ: NVCR) announced its participation in the 34th Annual Piper Sandler Healthcare Conference on December 1, 2022. Executive Chairman William Doyle and CFO Ashley Cordova will engage in a fireside chat at 9:30 a.m. EST, alongside one-on-one investor meetings. A live webcast will be available on Novocure's Investor Relations page, with replay access for 14 days. Novocure, based in Switzerland, focuses on innovative cancer therapies, primarily using Tumor Treating Fields, with ongoing clinical studies in various cancer types.