Earnings summaries and quarterly performance for NovoCure.
Executive leadership at NovoCure.
Board of directors at NovoCure.
AO
Allyson Ocean
Detailed
Director
AD
Asaf Danziger
Detailed
Director
DH
David Hung
Detailed
Director
JH
Jeryl Hilleman
Detailed
Director
KG
Kinyip Gabriel Leung
Detailed
Director
KS
Kristin Stafford
Detailed
Director
MM
Martin Madden
Detailed
Director
TS
Timothy Scannell
Detailed
Director
WV
William Vernon
Detailed
Lead Independent Director
Research analysts who have asked questions during NovoCure earnings calls.
Emily Bodnar
H.C. Wainwright & Co.
4 questions for NVCR
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Jason Bednar
Piper Sandler Companies
4 questions for NVCR
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JC
Jonathan Chang
Leerink Partners
4 questions for NVCR
Also covers: ADAP, GMAB, IMCR +10 more
JF
Jessica Fye
JPMorgan Chase & Co.
3 questions for NVCR
Also covers: ALKS, ALNY, AMRN +23 more
Vijay Kumar
Evercore ISI
3 questions for NVCR
Also covers: A, ABT, AVTR +21 more
LH
Lei Huang
Wells Fargo
2 questions for NVCR
Also covers: PEN, RXST, SOLV
KD
Kevin DeGeeter
Ladenburg Thalmann & Co. Inc.
1 question for NVCR
Also covers: IDXG, ORIC, RVMD +2 more
KJ
Kevin Joaquin
Evercore ISI
1 question for NVCR
Also covers: HOLX
LB
Larry Biegelsen
Wells Fargo & Company
1 question for NVCR
Also covers: ABT, ALC, AXNX +24 more
LB
Lawrence Biegelsen
Wells Fargo
1 question for NVCR
Also covers: ABT, ALC, BAX +16 more
NS
Na Sun
JPMorgan Chase & Co.
1 question for NVCR
Also covers: HALO
Recent press releases and 8-K filings for NVCR.
NovoCure's U.S. Subsidiary Faces Billing Privilege Revocation by CMS
NVCR
Profit Warning
Guidance Update
Legal Proceedings
- NovoCure Inc., the U.S. subsidiary of NovoCure Limited, received a letter on January 29, 2026, from the Centers for Medicare & Medicaid Services (CMS) revoking its billing privileges retroactive to December 17, 2025.
- The revocation was due to an administrative process issue related to the company's triannual re-validation, not a substantive failure.
- The company estimates it will not be able to recognize approximately $13 million per month in revenue from CMS Payors until billing privileges are reinstated.
- NovoCure has filed a Corrective Action Plan with CMS and expects reinstatement, but the ultimate outcome, timing of resolution, and financial impact cannot be determined at this time.
1 day ago
Novocure Outlines 2026 Catalysts and Path to Profitability
NVCR
Guidance Update
Product Launch
New Projects/Investments
- Novocure anticipates a catalyst-rich 2026, with top-line data releases for the PANOVA-4 phase 2 study in metastatic pancreatic cancer in Q1 and the TRIDENT phase 3 trial in glioblastoma in Q2.
- The company expects regulatory approvals and launches in Q2 2026 for locally advanced pancreatic cancer (targeting 15,000 US patients) and in Q4 2026 for brain metastases from non-small cell lung cancer (targeting 16,000 US patients).
- Novocure is committed to a clear path to profitability, aiming for Adjusted EBITDA break-even, and will provide guidance on top-line revenue and Adjusted EBITDA at its February earnings call.
- The non-small cell lung cancer launch in the U.S. and Germany is behind plan, with 122 patients on therapy, leading to adjusted sales and marketing spend, while the company will review R&D investments to align with top priorities.
Jan 14, 2026, 5:45 PM
Novocure Reports Preliminary 2025 Results and Outlines 2026 Catalysts
NVCR
Guidance Update
Product Launch
Revenue Acceleration/Inflection
- Novocure reported preliminary 2025 revenue of $655 million, marking an 8% year-over-year increase, primarily driven by a 9% global increase in active glioblastoma (GBM) patient volume.
- The company anticipates Q2 2026 regulatory approval and launch in the US for pancreatic cancer treatment, targeting an addressable market of 15,000 patients, followed by an expected Q4 2026 regulatory approval and launch for brain metastases from non-small cell lung cancer, with an addressable market of 16,000 patients.
- Novocure is committed to achieving Adjusted EBITDA break-even and plans to provide full-year 2025 revenue and Adjusted EBITDA guidance during its February earnings call.
- Key clinical data readouts expected in 2026 include top-line data from the PANOVA-4 phase 2 study in metastatic pancreatic cancer in Q1 and from the phase 3 TRIDENT trial in glioblastoma in Q2.
- The launch of the non-small cell lung cancer treatment has been behind plan, leading to adjustments in sales and marketing spend for this business.
Jan 14, 2026, 5:45 PM
Novocure Presents Preliminary 2025 Results and Outlines 2026 Catalysts
NVCR
Guidance Update
Product Launch
Revenue Acceleration/Inflection
- Novocure reported preliminary $655 million in revenue for 2025, representing an 8% year-over-year growth, and is committed to achieving Adjusted EBITDA break-even, with guidance on top-line revenue and Adjusted EBITDA to be provided in February.
- The company anticipates several key catalysts in 2026, including the Q1 release of PANOVA-4 data and Q2 release of TRIDENT data, along with the Q2 launch of Optune Packs for locally advanced pancreatic cancer and the Q4 launch of Optune Maya for brain metastases from non-small cell lung cancer in the U.S..
- Novocure's core glioblastoma (GBM) business demonstrated strong performance in 2025, with a 9% increase in active patient volume globally, including 4% growth in the U.S. and significant growth in international markets like Japan (29%) and France (19%).
- The new CEO, Frank Leonard, outlined a strategic focus on driving adoption in existing businesses responsibly, investing in and scaling new product launches, and reviewing the R&D portfolio to align with top priorities and a clear path to profitability.
Jan 14, 2026, 5:45 PM
NovoCure Announces Preliminary Full Year and Fourth Quarter 2025 Results and CEO Appointment
NVCR
Earnings
CEO Change
New Projects/Investments
- NovoCure reported preliminary net revenues of $655.4 million for the full year 2025 and $174.4 million for the fourth quarter 2025, both representing an 8% increase compared to the prior year and prior-year quarter, respectively.
- The company's cash, cash equivalents, and short-term investments totaled $448.3 million as of December 31, 2025.
- As of December 31, 2025, there were 4,620 total active patients on TTFields therapy globally.
- Frank Leonard was appointed Chief Executive Officer in December 2025.
- NovoCure submitted the final module of its premarket approval application to the U.S. FDA in December 2025 for TTFields therapy use for the treatment of brain metastases from non-small cell lung cancer, with a decision anticipated in Q4 2026.
Jan 12, 2026, 12:00 PM
Novocure Announces Preliminary Full Year and Fourth Quarter 2025 Performance
NVCR
Earnings
Management Change
New Projects/Investments
- Novocure reported preliminary net revenues of $655.4 million for the full year 2025 and $174.4 million for the fourth quarter 2025, both representing an 8% increase compared to the prior year and same period in 2024, respectively.
- As of December 31, 2025, there were 4,620 total active patients on TTFields therapy globally, including 4,464 active Optune Gio patients and 156 active Optune Lua patients.
- The company held $448.3 million in cash, cash equivalents, and short-term investments as of December 31, 2025, after repaying $561 million of convertible notes.
- Frank Leonard was appointed Chief Executive Officer in December 2025.
- Novocure submitted the final module of its premarket approval (PMA) application to the U.S. FDA in December 2025 for TTFields therapy use for the treatment of brain metastases from non-small cell lung cancer (NSCLC), with a decision anticipated in Q4 2026.
Jan 12, 2026, 12:00 PM
NovoCure Announces CEO Change and Provides Business Updates
NVCR
CEO Change
Product Launch
New Projects/Investments
- NovoCure announced a CEO change, with Frank Leonard taking over from Ashley Cordova. This transition aims to optimize management and execution as the company moves towards being a multi-indication, profitable entity, with no changes to regulatory timelines or commercial strategy.
- The company anticipates U.S. approval and launch for its PANOVA-3 trial in pancreatic cancer, with the submission moving as planned. Launches in the European Union and Japan are expected to follow.
- The TRIDENT trial for glioblastoma (GBM) is projected to expand the total addressable market by approximately 25% and extend treatment duration by initiating Optune earlier in the treatment regimen.
- International expansion for GBM includes a launch in Spain, with further efforts in Northern Italy and British Columbia, Canada. Additionally, NovoCure expects reimbursement and launch for lung cancer in Japan in 2026.
Dec 2, 2025, 4:30 PM
NovoCure Announces CEO Change and Provides Business Updates
NVCR
CEO Change
Product Launch
Revenue Acceleration/Inflection
- NovoCure announced a CEO change, with Frank Leonard taking over, emphasizing management optimization and execution rather than a shift in strategic objectives or timelines.
- The PMA submission for pancreatic cancer (PANOVA-3) is progressing as planned, with approval anticipated and an immediate U.S. launch expected.
- The TRIDENT trial for glioblastoma (GBM) is expected to increase revenue by allowing earlier treatment, expanding the treatable patient population by approximately 25%, and leveraging radiation oncologists for prescribing.
- NovoCure is expanding internationally, with a GBM launch in Spain and anticipated reimbursement and launch for lung cancer in Japan in 2026, where market dynamics are favorable.
Dec 2, 2025, 4:30 PM
NovoCure Announces CEO Transition and Strategic Priorities
NVCR
CEO Change
Management Change
Product Launch
- NovoCure announced a CEO change, with Frank Leonard taking over from the previous CEO. The board determined Leonard was the best person to lead the company's execution into 2026, focusing on management optimization rather than altering strategic objectives.
- The company is strategically transitioning from a single product, single indication company to a multi-indication company, with a goal to become EBITDA break-even and profitable.
- The PMA submission for pancreatic cancer (PANOVA-3) is moving as planned, with anticipated U.S. approval and launch soon, and no Adcom expected.
- NovoCure is expanding its international presence, launching GBM in Spain and exploring opportunities in Italy and Canada. Additionally, the company expects reimbursement for lung cancer in Japan in 2026.
Dec 2, 2025, 4:30 PM
Novocure Provides Update on Multi-Indication Strategy and Pipeline at Jefferies 2025 Global Healthcare Conference
NVCR
Product Launch
New Projects/Investments
Revenue Acceleration/Inflection
- Novocure's glioblastoma (GBM) business has an annual run rate exceeding $600 million and provides mid-single-digit top-line growth, forming a stable financial base.
- The company is transitioning to a multi-indication oncology company, expecting to have four products on the market by the end of 2026, including current offerings for GBM and non-small cell lung cancer (NSCLC).
- Upcoming product launches in 2026 are anticipated for locally advanced pancreatic cancer (showing a two-month overall survival benefit and six-month pain-free survival extension) and brain metastases from NSCLC.
- The launch of Optune Lua for NSCLC is proving challenging, with 100 patients on therapy at the end of Q3 and the product not being included in recent NCCN guidelines updates.
- Novocure has invested $1 billion in R&D over the past five years, with key pipeline catalysts including data readouts for Panova IV (metastatic pancreatic cancer) in Q1 next year and the Trident trial (newly diagnosed GBM).
Nov 19, 2025, 2:00 PM
Quarterly earnings call transcripts for NovoCure.
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