Novocure Stock Price, News & Analysis

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.

Novocure announces successful enrollment completion in the phase 3 LUNAR trial for advanced stage 4 non-small cell lung cancer (NSCLC), with final data expected by year-end 2022. This pivotal study examines the efficacy of Tumor Treating Fields (TTFields) alongside immune checkpoint inhibitors or docetaxel, targeting improved overall survival rates. Annually, NSCLC affects nearly 200,000 patients in the U.S., and the trial is significant for treatment evolution. This marks Novocure's second phase 3 trial to finish enrollment this quarter, with more data anticipated in the following two years.

Novocure (NASDAQ: NVCR) announced promising results from the phase 2 pilot 2-THE-TOP trial, which evaluates Tumor Treating Fields (TTFields) combined with pembrolizumab and temozolomide for newly diagnosed glioblastoma patients. With over 9 months of follow-up, median progression-free survival was at least 11.2 months, significantly higher than the historical median of 6.7 months. The study observed a 24% response rate with partial or complete responses. The data will be presented by Dr. David Tran at the Society for Neuro-Oncology Annual Meeting on November 19, 2021.

Novocure (NASDAQ: NVCR) announced an oral presentation featuring updated data from the 2-THE-TOP study for newly diagnosed glioblastoma (GBM) patients treated with Tumor Treating Fields (TTFields), pembrolizumab, and temozolomide. The study indicated a median progression-free survival of at least 11.2 months in patients with over 9 months of follow-up. This information will be presented at the Society for Neuro-Oncology (SNO) 2021 Annual Meeting in Boston from November 18 to 21, with 31 presentations related to TTFields expected.

Novocure (NASDAQ: NVCR) announced the completion of patient enrollment in the phase 3 INNOVATE-3 trial, investigating Tumor Treating Fields (TTFields) combined with paclitaxel for treating platinum-resistant ovarian cancer.

This trial is significant, being Novocure's largest abdominal trial to date, aimed at improving outcomes for approximately 100,000 patients annually in the U.S., Europe, and Japan. The final data from this trial is expected in 2023, with a primary focus on overall survival rates.

Novocure (NASDAQ: NVCR) reported Q3 2021 net revenues of $133.6 million, a 1% increase from Q3 2020. Gross profit reached $103.4 million with a 77% gross margin. The company experienced a net loss of $13.1 million, contrasting with a net income of $9.3 million in the prior year. Significant investments included $48 million in R&D. The phase 3 INNOVATE-3 trial for recurrent ovarian cancer recently completed patient enrollment. Novocure's cash reserves were $933.8 million as of September 30, 2021, marking a $91.2 million increase from the start of the year.

Novocure (NASDAQ: NVCR) announced 15 presentations on Tumor Treating Fields (TTFields) at the ASTRO 2021 Annual Meeting, occurring from Oct. 24-27 in Chicago. Five presentations include new data on the combination of TTFields and chemoradiation for glioblastoma patients. The research underscores the growing interest in TTFields within radiation oncology. The company aims to establish TTFields as a vital treatment for solid tumors, reflecting its ongoing commitment to cancer care innovation.