Na Sun • JPMorgan Chase & Co.

Question 1

Na Sun's questions to Novocure Ltd (NVCR) leadership • Q4 2024

Feb 27, 2025

Question

Na Sun, on behalf of Jessica Fye, asked for the current number of active lung cancer patients compared to the 20 reported at year-end 2024, inquired about the factors driving or hindering patient adoption, and asked about the primary drivers for revenue growth in 2025.

Answer

Executive Frank Leonard declined to provide intra-quarter patient numbers but noted a positive trend of existing GBM-treating physicians now prescribing for lung cancer. CEO Ashley Cordova reiterated that 2025 is a demand-generation year for the lung cancer launch, which will be the principal driver of material revenue contribution starting in 2026.

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Question 2

Na Sun's questions to Halozyme Therapeutics Inc (HALO) leadership • Q3 2024

Oct 31, 2024

Question

Na Sun, on for Jessica Fye of JPMorgan Chase & Co., asked for examples of when a partner might be unable to work with ENHANZE and whether the MDASE platform could act as an "escape hatch" for competitors. She also asked about the slight reduction in the top end of the collaboration revenue guidance.

Answer

President and CEO Dr. Helen Torley explained a partner might be unable to use ENHANZE if a target is already exclusively licensed. She asserted that licensing MDASE IP does not enable competitors, as Halozyme provides no development support or API. Regarding guidance, she noted the new $130M-$150M range is a tightening based on current visibility for the year.