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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) has received approval from the Swiss Federal Office of Public Health for national reimbursement of its device, Optune, in conjunction with temozolomide for newly diagnosed glioblastoma patients, effective April 1, 2021. This decision marks a significant advancement in access to Optune, highlighting the growing recognition among health insurers of its benefits. Optune employs Tumor Treating Fields technology to disrupt cancer cell division with minimal damage to healthy cells, aiming to improve outcomes for patients battling aggressive cancers.
Novocure (NASDAQ: NVCR) has initiated its global phase 3 TRIDENT trial for newly diagnosed glioblastoma (GBM), enrolling its first patient. The trial will assess the survival benefit of combining Optune with radiation therapy and temozolomide in 950 patients. Optune, a noninvasive treatment that uses Tumor Treating Fields to disrupt cancer cell division, is currently approved for treating GBM. The trial aims to enhance treatment efficacy while maintaining safety standards, as the experimental group will receive concurrent therapy for six weeks before continuing Optune for up to 24 months.
Novocure (NASDAQ: NVCR) announced participation in the 3rd Annual Evercore ISI Virtual HealthCONx Conference on December 1-2, 2020. Executive Chairman William Doyle and Chief Science Officer Dr. Uri Weinberg will engage in a fireside chat on December 2 at 11:20 AM EST, along with one-on-one meetings with investors. A live audio webcast will be accessible on the Investor Relations page of Novocure’s website and available for replay for 14 days. Novocure focuses on oncology therapies, specifically Tumor Treating Fields, targeting aggressive cancers like glioblastoma.
Novocure (NASDAQ: NVCR) announced 43 presentations on Tumor Treating Fields (TTFields) at the Society for Neuro-Oncology 2020 Virtual Annual Meeting from November 19-21. This includes two oral presentations highlighting data from the EF-19 study on recurrent glioblastoma and a study on TTFields in combination with chemotherapy for non-small cell lung cancer. Notably, 36 of the presentations were prepared by external authors, emphasizing collaborations in advancing TTFields research.
Novocure (NASDAQ: NVCR) has received the CE Mark for its NovoTTF-100L system, enabling commercialization as a first-line therapy for malignant pleural mesothelioma (MPM) in Europe and Switzerland. This treatment combines the device with pemetrexed and platinum-based chemotherapy. Annually, over 13,000 cases are diagnosed in Europe. The system was previously approved by the U.S. FDA in May 2019. Novocure aims to expand patient access by pursuing reimbursement pathways in selected European markets.
Novocure (NASDAQ: NVCR) has scheduled a virtual Research and Development Day for analysts and investors on November 12, 2020, from 7:30 a.m. to 9:30 a.m. EST. The event will showcase two decades of research on Tumor Treating Fields and introduce ongoing R&D initiatives. Executive Chairman William Doyle highlights a growing interest in Tumor Treating Fields within the scientific community. The agenda includes presentations by Novocure leaders and external experts focused on clinical development, innovative applications, and therapeutic combinations aimed at addressing critical cancer treatment needs.
Novocure (NASDAQ: NVCR) announced a new $150 million senior secured revolving credit facility with JPMorgan Chase Bank, enhancing its financial structure for growth and innovation. The credit facility allows for an additional $100 million in loans under certain conditions, supporting both near-term and long-term business priorities. Novocure expects key clinical trial results in the coming years, and the updated capital structure aims to sustain growth and maximize shareholder value. The facility has interest rates ranging from LIBOR plus 2.75% to 3.25%, with no current outstanding balance.
Novocure (NASDAQ: NVCR) has successfully completed a private offering of $575 million in 0% Convertible Senior Notes due 2025, including an additional $75 million exercised by initial purchasers. The net proceeds are estimated at $558.4 million, aimed at supporting clinical and product development, as well as general corporate purposes. The notes are convertible into cash or shares and have a conversion price of approximately $168.24, a 50% premium over the November 2, 2020 stock price of $112.16. Novocure plans to redeem these notes under specific conditions starting November 6, 2023.
Novocure (NASDAQ:NVCR) announced pricing for $500 million of 0% Convertible Senior Notes due 2025, aiming to close the offering on November 5, 2020. The notes have an initial conversion rate of 5.9439 shares per $1,000 principal, with a conversion price of about $168.24, representing a 50% premium over its stock price on November 2, 2020. Net proceeds of approximately $485.5 million will enhance clinical programs and support general corporate purposes. Noteholders can convert under specific conditions until 2025, while Novocure retains redemption rights under certain scenarios.
Novocure (NASDAQ: NVCR) announced plans to offer $500 million in Convertible Senior Notes due 2025 in a private placement for qualified institutional buyers. An additional $75 million may be offered if the initial purchasers exercise their option within 13 days. Proceeds will support clinical and product development, general corporate purposes, and related activities. The notes will be unsecured and convertible into cash, Novocure's shares, or both. The offering is subject to market conditions, with no guarantee of completion.
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