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NovoCure Limited Ordinary Shares (symbol: NVCR) is a pioneering, commercial-stage oncology company dedicated to developing and marketing innovative therapies for solid tumor cancers. At the heart of NovoCure's mission is a groundbreaking treatment modality known as Tumor Treating Fields (TTFields). This proprietary therapy employs electric fields to disrupt cancer cell division, targeting a variety of solid tumors.
Founded with the ambition to improve the lives of cancer patients, NovoCure not only focuses on the development and manufacture of TTFields devices but also on their commercialization. Key products include Optune Gio and Optune Lua, which have shown promising results in treating Glioblastoma and other cancers. The company's commitment to innovation is evident in its extensive pipeline, which features projects such as Trident, Lunar-2, Panova-3, and Metis, aimed at addressing Glioblastoma, Non-small cell lung cancer, Pancreatic cancer, and more.
Operating primarily in the healthcare sector of the United States, NovoCure also extends its reach to key markets including Germany, Japan, and other regions, accounting for a significant portion of its revenue. The company prides itself on its talented team, who are motivated by the mission to enhance cancer care. NovoCure offers employment opportunities across the U.S., Europe, and Asia, investing heavily in the professional growth and personal well-being of its employees.
Recent achievements underline the company's dynamic progress, including strategic partnerships, clinical milestones, and the continuous expansion of its product portfolio. NovoCure remains dedicated to its core mission, with cancer patients and their families always at the forefront of its endeavors.
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.
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
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.
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