Novocure restores Medicare billing privileges

Novocure Limited reported that Medicare billing privileges for its U.S. subsidiary were temporarily revoked and then fully restored.

Rhea-AI Filing Summary

Novocure Limited reported that Medicare billing privileges for its U.S. subsidiary were temporarily revoked and then fully restored. CMS had revoked billing for the company’s products retroactive to December 17, 2025 due to an administrative issue with a triannual re-validation process, not a substantive qualification failure.

On February 24, 2026, CMS rescinded the revocation and reinstated Medicare billing privileges retroactive to December 17, 2025. Novocure states it continued serving existing and new patients throughout this period and believes there will ultimately be no impact on its ability to recognize revenue for those services.

Insights

Healthcare policy and reimbursement analyst

CMS reversed a temporary Medicare billing revocation that Novocure says should not affect revenue.

The event centers on Medicare billing privileges for Novocure’s U.S. subsidiary. CMS initially revoked billing rights retroactive to December 17, 2025 over an administrative process issue tied to triannual re-validation, rather than a failure to meet substantive qualification criteria.

CMS then issued a letter on February 24, 2026 rescinding the revocation and reinstating billing privileges, also retroactive to December 17, 2025. Novocure indicates it continued treating existing and new patients throughout and believes there will ultimately be no impact on revenue recognition from these services.

This points to an operational compliance hiccup rather than a reimbursement-policy change. Future disclosures in company filings may provide more detail on any follow-up process improvements or interactions with CMS around re-validation.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What issue did Novocure (NVCR) report with Medicare billing?

Novocure reported that CMS revoked its U.S. subsidiary’s Medicare billing privileges retroactive to December 17, 2025, due to an administrative issue with the company’s triannual re-validation process, rather than any substantive failure to qualify for re-validation or coverage of its products.

How and when were Novocure’s Medicare billing privileges reinstated?

CMS sent Novocure a letter on February 24, 2026 rescinding the revocation and confirming Medicare billing privileges were reinstated retroactively to December 17, 2025, effectively restoring continuous billing status for the period during which the company was initially deemed ineligible to bill Medicare.

Was the CMS action against Novocure related to product qualification?

No. Novocure states the revocation was for an administrative process issue tied to triannual re-validation, not a substantive failure to qualify. This indicates the matter involved procedural compliance rather than CMS questioning the underlying eligibility of Novocure’s products for Medicare coverage.

Did Novocure (NVCR) continue treating patients during the billing revocation period?

Yes. Novocure reports it continued providing services to existing patients and accepting new patients while Medicare billing privileges were considered revoked. The company therefore maintained continuity of care even before CMS later reinstated those billing privileges retroactively to December 17, 2025.

How does Novocure expect the CMS billing issue to affect revenue?

Novocure believes there will ultimately be no impact on its ability to recognize revenue for services provided during the revocation period. This expectation is based on CMS’s decision to reinstate Medicare billing privileges retroactively to December 17, 2025, covering the previously affected timeframe.

What forward-looking statement caution does Novocure include in this 8-K?

Novocure cautions that forward-looking statements, including expectations around coverage and collections from third-party payers, are subject to financial, economic, regulatory, and other risks detailed in its Form 10-K filed February 27, 2025 and subsequent SEC filings, and may differ materially from actual future results.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/24/2026 - 05:00 PM Learn about SEC filing dates

0001645113false00016451132026-02-012026-02-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

February 24, 2026

Date of Report (date of earliest event reported)

NovoCure Limited

(Exact name of registrant as specified in its charter)

Jersey			001-37565						98-1057807
(State or other jurisdiction of incorporation or organization)			(Commission File Number)						(I.R.S. Employer Identification No.)
No. 4 The Forum, Grenville Street			St. Helier			Jersey			JE2 4UF
(Address of Principal Executive Offices)									(Zip Code)

+44 (0) 15 3475 6700

Registrant's telephone number, including area code

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Ordinary Shares, no par value			NVCR			The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

o

Item 7.01     Regulation FD Disclosure.

On February 2, 2026, the registrant's U.S. subsidiary, Novocure Inc. (the "Company") received a letter dated January 29, 2026 from the Centers for Medicare & Medicaid Services ("CMS") that the Company's billing privileges for its products were revoked retroactive to December 17, 2025. The Company was cited for an administrative process issue relating to the Company's triannual re-validation and not due to a substantive failure on the Company's part to qualify for re-validation.

On February 24, 2026, the Company received a letter from CMS rescinding the revocation of billing privileges and stating the Company's Medicare billing privileges are reinstated retroactively to December 17, 2025.

During the period of ineligibility, the Company continued to provide services to existing patients and accept new patients. The Company believes there will ultimately be no impact to its ability to recognize revenue for these services.

The information contained in this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Forward-Looking Statements

In addition to historical facts or statements of current condition, this report may contain forward-looking statements. Forward-looking statements provide Novocure’s current expectations or forecasts of future events. These may include statements regarding anticipated scientific progress on its research programs, clinical trial progress, development of potential products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, coverage, collections from third-party payers and other statements regarding matters that are not historical facts. You may identify some of these forward-looking statements by the use of words in the statements such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” or other words and terms of similar meaning. Novocure’s performance and financial results could differ materially from those reflected in these forward-looking statements due to general financial, economic, environmental, regulatory and political conditions and other more specific risks and uncertainties facing Novocure such as those set forth in its Annual Report on Form 10-K filed on February 27, 2025, and subsequent filings with the U.S. Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, Novocure does not intend to update publicly any forward-looking statement, except as required by law. Any forward-looking statements herein speak only as of the date hereof. The Private Securities Litigation Reform Act of 1995 permits this discussion.

Item 9.01 Financial Statements and Exhibits

(d)    Exhibits

Exhibit No.			Description
104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NovoCure Limited

(Registrant)

Date: February 24, 2026

By: /s/ Christoph Brackmann

Name: Christoph Brackmann

Title: Chief Financial Officer

Filing Exhibits & Attachments

3 documents

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• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 21.3 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.3 KB