NVCR - Earnings call transcript Q1 2019

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Operator

Good day, ladies and gentlemen, and welcome to the Novocure First Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we’ll conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions].

As a reminder, this call is being recorded. pleasure Relations, Senior Ms. my Finance President now Investor and is to Vice introduce of It

Ashley Cordova.

Ashley Cordova

I XXXX in by everyone, Medical joining our and Novocure's performance. our us morning, CEO, Benaim. The the to joined viewed Events Good and CFO, review first site, Web thank Asaf Danziger; our Chief quarter clicking Wilco Bill Executive our Officer, Chairman, page. slides our on you our for am be Doyle; today Groenhuysen; Investor located Ely www.novocure.com, for link financial section on quarter first on the presented today results by Relations can XXXX

are differ to this these in from to These we I of include described SEC control, and those intend not statements from and which any will statements. by as law. Before to of required number involve those uncertainties filings. time that time uncertainties, could beyond in our our statements, remind conference forward-looking would risks materially statement, call update discussions during risks do like projected and forward-looking except start, our a some results you publicly actual We including

remarks open for Financials March both that, Bill will of the to Doyle. the earlier morning. we our released questions. this press ended today, now available With over XX, I three in line months in are our call XX-Q, Following for XXXX, turn our prepared and will release which the we

Bill Doyle

posted in of Thank revenues on XX, we of versus XXXX, XXXX. and growth performance. strong quarter you, morning, March quarter XX.X of first net patients Optune delivered as Ashley, million good XX% X,XXX We more With representing the everyone. another than financial

expansion to a significant opportunity. Our clinical advance creating pipeline continues market

phase for in trials in readouts INNOVATE-X four review malignant mesothelioma now Our pivotal enrolling expected in with and, the at beginning trials. XXXX. the are HDE ongoing from trial March, in our these first X is Data patients under enrollment FDA is application pleural

compelling line value catalysts the advancing to top we addition have of XXXX our growth. pipeline, creation In continued potential in fuel several to

a newly diagnosed GBM the regarding malignant decision decision coverage our expect We population reconsideration a from our from mesothelioma. expect pleural CMS for submission in HDE Medicare we and FDA the request regarding for

In addition, wavier trial the a I’ll for China Optune for obtain newly is approval preparing launch. recurrent to year Asaf three working before actively to for diagnosed Lab handing into Zai a a and delve over catalysts specifically in commercial regulatory and these GBM this for is potential call of update.

with expand continue access We GMB. to patients for to work with to Optune payers

had large than March of XX, payer newly coverage XXXX, As coverage denied GMB. million XXX for for Optune. diagnosed consistently U.S. sole is Medicare the remaining more Americans recurrent who of and/or Optune

general the of Act. professional for the determination healthcare for MACs will and CMS for outcomes and MACs company discussion and applicable coverage determine that Per to fee-for-service that the step regions. will following the XX% not DME guidelines. CMS request beneficiaries inform to treated by quarter used the in by Medicare to decision GBM be newly in patient XXXX, the of DME GBM. process that In through to community LCD positive newly Medicare on period the intended MAC diagnosed the of XXst that process. policy a confidence is public there and response reconsideration now updated recently policy, DME to forward in population. CAC LCD a CAC community. process, draft The public centered with working the policy The evidence of XX% subject GBM. is LCD conclusion in net changes the to promote reflects the two In to data MACs diagnosed Advisory with DME evidence our population developing met the single eligible Cures will DME panel comment healthcare acceptance specified multistep health a presentation the or provides published, of communication comment or progress LCD coverage the be Once scientific CAC At a Optune published. believe of Contractor The issue the are the Century decision updated DME was We diagnosed a proposed process of day, and of a strength CAC the Optune of XX-day publication the expressed Medicare between program. a timing reminder, proposed a professional the the local the treatment Novocure period, March to first are positive U.S. their the healthcare newly a MACs of community. the all As LCD is the conformance Medicare in our of active accepted fourth final the Committee professional coverage joint local policy sufficient in proposed

a to commercial recognize methodology followed DME will developed commercial and information will account pricing our be coverage when file fee schedule amount. As for that announcement it for CMS new pricing by reminder, had the establishing that a that taken decision covered into the newly

submitted in the carboplatin. the submission. survival trial. until in application in our humanitarian application with successful has overall to XX FDA and events or our we HDE review malignant months on patients submitted mesothelioma, median of exemption FDA a treated days our No and pleural extension Moving a on the act the to received The The adverse cisplatin reported. plus significant mid-May serious mesothelioma device-related were response We to XX.X based Optune XXXX March. trial device for of October STELLAR HDE from completion comments approval the response on to pemetrexed STELLAR for and or FDA demonstrated

approximately are discussions dozen the our preparing launch. mesothelioma have at two States, teams Our of of constructive and a treated FDA United excellence. XXXX In commercial with majority for are U.S. been centers the the patients

Optune under to payers dialogue apply process malignant payers, at to teams approval to the process through multidisciplinary medical also and territory Pending mesothelioma for the approval radiation these anticipate institutional go GBM. claims for coverage and They approval, five pathway. will HDE process early that prescribe early with coverage to in experience on regulatory our our appeal the the the to call currently not begin mesothelioma. point mesothelioma. required will support board with centers. call their are with for similar of will will primary review oncologists We Upon phase educate Positive pleural launch an we oncologists will policies GBM of we approval, during the managers mesothelioma hiring work certified be

is potential of for GBM approval in for the catalyst XXXX Optune China. Another growth

a to trial begun progress authorities As with the license treat a wavier Chinese last in the the in enabling is Zai we regulatory third Hong seeking the filing for has in and launch taken China China. the from a of reminder, announced as of and as regulatory Zai Optune collaboration early has quarter in potential year. Zai XXXX. commercial patients to Kong quarter fourth steps agreement Lab

over China. clinical phase On to the gastric the review I Asaf is commercial clinical and finalize in call other our indications hand development in first execution. pilot with a front, key closely trials Zai collaborating cancer quarter is to to will now X initiate the teams our working protocol in trial to for

Asaf Danziger

to not number We of which Physicians recommendation decrease believe of QX. U.S. information revenue at the year had for grew Thank our by for strength key XXX affected prescriptions noticeable skills prescriptions diagnosed total start fluctuate newly individual physician at confidence patient driver, from patients number influences the GBM, often patients, Also Optune. The X,XXX in a on primary by of of X,XXX recurrent or flow. patients. main driver you, a prescription prescription for and We the Germany centers number also and of whether was patients, end end of to GBM our The at continued Bill. can the Active the source of of prescribers with growth in prescriptions are main impact active grow. GBM options will strong in treatment communication a on quarter-over-quarter. the total Japan. have our

to We personal oncologist specific an these marketing teams met shared experience. I with cancer confidently field. resources the across marketing in to impact having We recently the hospital in are his already communication have centers at treatment enhance prepare believe radiation a developed physicians the recommend new resources patients. to who and to at multidisciplinary Optune Bavaria

routinely managers follow importance At the treatment cancer account centers. of physician-patient about at pre-surgery now impression consults. during patients on Our multidisciplinary Optune an educating presentation the German This teams is his neurosurgeon on made the neurosurgeon. his communication center,

the increase has patient the who result oncologists much surgery seen present early Optune a after radiation this noticeable to of finds early patient acceptance. As in it’s to patients and education, easier a sees

by operating SG&A in XXXX, QX we our XXXX. We programs growth XX% only out are to parallel, XX% In leverage commercial grew compared In QX similar commitment continued globally. rolling to delivering drove business. revenue reflecting our expenses

an technology pipeline Our over grew the pivotal compared Notably, enrolling. Bill R&D investments now I call XXXX, will update continue phase phase turn GBM fund increased quarter and from and development back XX% the to of now X open with as for in our clinical flow trials and the first business. four to pilot have we our X we trial investments that, one cash to on pipeline. With

Bill Doyle

of American awareness of Journal the and It peer-reviewed planning is represents known oncology in prestigious The dose framework with that demonstrating Fields treatment Treating the Tumor published official important Treating Tumor response two Radiation and to the Optune symmetry Society Fields evidence improved journal definition treatment drive publication This information level for the of the sets as Treating diagnosed additional early we work last demonstrating the dose doses Optune. of Oncology Physics Journal Just as role Radiation order analysis In plan International trials Tumor newly believe provides GBM of Journal in use Fields will dose Optune’s and of further week, gather as this GBM Oncology, radiation starting increased on the Red higher randomized in we Biology use, for initiate patient Red publication scientific to Treating field of and a Tumor patients. rigorous and about optimal data XXXX. for survival advance that the future supporting the first a to and GBM the additional community. Fields planning.

Optune by radiation potential customer with will will We design be key Optune. further will the the to first expansion. radiation contemplated evidence The the initiation therapy trial it GBA key a this study of initiating post oncologists, for trial. in adoption The trial is and radiation believe supporting label previously support mirror segment possible to intended benefit versus trial designed add

treatments. efficacy to is The Optune signals in other optimal therapeutic several and second temozolomide a intended when be with design designed trial to identify identify combined will combination and agents trial potential is multifactorial

important centers patients INNOVATE-X. cancer INNOVATE-X/ENGOT-ovXX involved ENGOT the an it and first the improve with for patient provides patients paclitaxel Oncological ovarian in groups United quarter platinum-resistant Foundation and European U.S.-based the leading Trial GBM with phase revenue, INNOVATE-X/ENGOT-ovXX INNOVATE-X represents The and the tip GOG Gynaecological grow and enrollment the GOG collaborations the in of the Network study the Optune development and pivotal XXXX. trial were Both opportunity our weekly the in cancer. first to on are for of with the during we ENGOT to the States. collaborating treatment believe ovarian enrolled for or of trial us combination are XXX X guide in and and Novocure cancer trial company. promote the the facilitate We While to intended trial at will Europe in outcomes of iceberg in

interest are as pleased from Novocure with sign the Optune their We clinical in view to of a such respected with networks third clinical trial and partner increasing association extremely the community. party

Fields field were a scientific symposium there accelerate announced six continue late Treating members the major research. on for Tumor in We XX grant provide Treating critical on to partnership Fields progress recipients and expanding Tumor We of the Tumor community. AACR-Novocure meeting perform At Fields. Treating in resources Tumor basic Fields noteworthy to research inaugural Research of a American in that presentations the Cancer will Treating annual Association as XXXX do March,

genuine back first Tumor the the poster energized. for and shared interest good Attendance and in symposium believes action teams Our and Fields our a reflected AACR of presentation were from that, came extend mechanism received team the the With Treating questions turn some Treating to understand to to aggressive Fields of most desire in cancer. how the can results. survival over Tumor financial forms our of review Wilco call I will better quarter

Wilco Groenhuysen

call Thank to you, of for and joining Bill, delivered on performance. Novocure another thanks everyone strong us financial this the quarter morning.

growth Austria revenue revenues revenues growing year-over-year was XX% were quarter increase The quarter-over-quarter. driven of was patients XXX XX% data on X% First for reimbursement patient improving more XX patients therapy net in growth in growing approval With an by in as and patients since XX.X XXXX, the Germany on in rates year-over-year XX, and X,XXX of of active the March newly than and million by initial per primarily active of the revenues Optune EF-XX growth quarters and increase the in GBM. consecutive active by net our has Year-over-year per grown active patient. increase diagnosed number driven presentation an representing net Japan.

XX% scale quarter We expect Gross in steady active margin. growth prior a diagnosed patient continues growth efficiency globally newly margin initiatives. from ongoing to benefit increasing the XX see the XX.X Gross profit prescriptions the to continue and growth by to in quarters. reflecting over driven million was

sustain to key and this working hard We improve metric. are

continued to in XXXX. up investments the in versus statement, Moving down million quarter XX% development the R&D improve more expenses quarter, the research of income XX and we first than with

to As across programs, four quarters. in patients phase future X we work clinical we increase an continue expense will enroll that to R&D anticipate

globally. compensation. Optune adoption million first million, force in include non-cash share-based increases in expenses Our support including expenses SG&A increased SG&A and were marketing our quarter to expenses XX.X X sales

to XX.X first Our first share. XX million cash, quarter quarter Net equivalents quarter investments. loss and the operating million late-stage trailing XXX point cancer. and both loss approaching with believe working continued million, R&D We this was expanding was globally strategies. near-term in million generation, transitioning a X.X extend time the strong for ended in pipeline per million, our our revenues cash quarter. believe in growth survival and and your execute well $X.XX are core or the of balance includes XXX.X million believe used operations We runway you forms we and in The Thank we indications from revenue we sheet, for we an Novocure an prior Net we investments, growth in million financial of and reached have increase that long-term short-term value. shareholder with flexibility to Novocure of aggressive deliver cash inflection and most provides X.X has positioned as flow stability was important an some XX-month extended cash cash morning. XX.X five in the to significant

over turn to the for operator Now the I back will call questions.

Operator

Instructions]. [Operator you. Thank

with from comes of question first Vijay line Our the Kumar Evercore.

open. Your line is now

Vijay Kumar

I’ll like the for any curious. coming half? from the this start feel Thanks back guys. why Hi, contact with you sound guys through CAC comments, panel? taking out panel, my quite looks since DME CMS in Bill. question. the I’m on It your Maybe And maybe with positive. confident just flesh CAC had Have possibly reimbursement either you you

Bill Doyle

Sure.

doesn’t This for described So thanks question. remarks. of opening was a that very as has the for million obviously much Over been group have the in beneficiaries. coverage but the XXX Medicare focus are fee-for-service Americans ours the Optune

to help used evaluating a different just we focus they call for request was was these us novel when has their filed of thing. what have DME. and on commercial quite beds and changed their to changing requests. focused now canes approach. been it That for are Medicare This to milestone which practices Historically, and of they from process for of for triggered in their what sort principal And guidance is as LCD that they of we include our develop coverage this pricing ours. the a filing CMS focus So a coverage key sorts

of the process. CAC. this A So of we’re convening that key first company is the process new part going through a

But was Fields. about day Optune end positive to was And group. for Medicare knowledge nonetheless the not evidence Tumor they population. the net did The that not Treating eligible CAC. that outcome an support at voted there health and the of did presented EF-XX was we lot group group the that provides this prior to that include interesting have first assembled of was determine DME a It a investigators. the So sufficient

was underway that the to and make the expect is the this is desired comment public the of itself. of with followed now And I’ll respect period. note goal CMS support LCD meeting. believe at during do We the public public achieved So the period. will the period. be comment next that tremendous We drafting by comment We just that step it. one

relevant have patient us All organizations advocacy can us. of the touch been already they with in determine how best to support

process confident in remain so And will this happen we think XXXX. the unfold still why that’s we and that will that

Vijay Kumar

And challenging the street new GBM But I guess on there to dynamic Bill. a I understand on. a versus just maybe which perspective focuses the more model on, growth above patient we some the slightly helpful, maybe script the headline for the on is the give going just growth, becoming active active That’s script out. at it’s of volumes the the side for that when medium look patient then from out script recurrent volume And flesh volumes, dynamics on GBM revenue in term healthy? confidence to and well growing has which why new here been particularly remain growth street street should some the

Bill Doyle

Sure.

So for for call. clarify to I’d first in of and our Slide X look encourage GBM on at of want all, newly want diagnosed the trends I thanks to – everybody issue I do that prescriptions. the a this earnings take to presentation be everyone question this shows

of it course, call of prescription GBM prescriptions number newly So, for for GBM. you and consist diagnosed headline our as recurrent

our the patients that’s the what have revenue. And will for period most during diagnosed drive driving benefit GBM is of works also a we when the our point point as This newly on the to which growth are drives Optune the company growth remain evolution the team It’s time. For way an scripts. is us and course for in therapy of during can longest patients. of the

So also one we to that will is per thing up we’ve I respect in growth year and which versus growth fluctuate That everyone key I seen would script With to is in continue fluctuation focus last also revenue count to on focus diagnosed patient. newly to one emphasize recurrent the GBM patients. QX The QX foremost The on we first only and down. is encourage where driver. like prescriptions, last versus year. active and would here QX

therapy patient on second get we when they if when count will typically that or the therapy, don’t and those newly script a diagnosed Optune they time. they So patients start progress. We continue

is patient of to get second is So a newly a this recurrent we another patients that every get really one therapy. time count way get it them for for on see we think growth We don’t one newly and way. we strong why that diagnosed script, diagnosed we But GBM. in

to to recurrent continue We the though growth will expect scripts even quarter-to-quarter. fluctuate see that

Vijay Kumar

any helpful. one last That’s items should Thank the one-off run Gross QX? maybe margins level margin QX rate on there new strong, were How should we this me. be you. maybe some at on gross the about? that one from this And Is really thinking margin? be line for we gross thinking color here about

Wilco Groenhuysen

Wilco. good Good news margin This there’s morning, gross The is Vijay. affected is benefit no the positively. one-time that

ongoing bearing margin. As if consequence of a it’s are the a we want. fruit, on impact our initiatives efficiency gross which course scale has during But of beneficial you script, also said increasing

So sustainable. the hard a a is margin and of is XX% fluke. gross result work not It’s

Vijay Kumar

guys. you, Thank

Operator

you. Thank

of Our JPMorgan. with next Cory line Kasimov the from question comes

open. Your line now is

Arun Jain

have couple is for questions a Cory. taking Arun questions. my of Thanks Hi. you. on This I for for

duration GBM follow what’s a one settings? is versus of treatment of the for about have frontline from talk sales have respective I recurrent the you. commercial-related of up what a And first Can each come the question. fraction and setting in The you

Bill Doyle

Okay.

and to Is So the that setting. I think correct? related the between first-line second-line the differences the question

Arun Jain

have fraction the setting. the what come from frontline of recurrent Yes, sales versus

Bill Doyle

terms and GBM of So of active are GBM. are approximately in approximately XX% XX% those recurrent today patients patients, newly diagnosed

Arun Jain

treatment And in can respective you also settings? of talk these about duration of the each

Bill Doyle

Sure.

mix months. recurrent to about average diagnosed newly of between in Actually in in bit and the the we’re of duration X months. duration a therapy setting little duration the seeing and X.X approximately nine remains the four has So up trended months the an

Arun Jain

the to setting. commercial regarding related is know that you have the in mentioned approval I prepared question remarks second readiness. my mesothelioma And in your

could sales So you from leverage talk preparing existing GBM launch setting? in the could force please about for particular in we that the how

Asaf Danziger

It’s So thank very much question. you the Asaf. for

indication the of First mesothelioma would the I or all, indication It’s that say indication the outside us. the for brain. to a like is first head important very

another to focus We sacrifice going will sales on and plan are any GBM. in five mesothelioma. be our going hire not basically to the force And managers going the people same to current from but is that organization sale be territorial to they’re

Arun Jain

Okay. Thank you.

Operator

question Fargo. Thank next from the of you. And Biegelsen our Larry Wells comes line with

open. now is line Your

Larry Biegelsen

taking the Hi, guys. question. morning. Good for Thanks

versus the and about On do process here, commercial? learn we think how when that Medicare we the pricing should about today

Bill Doyle

Larry, decision mentioned, that to announcement I new this the commercial to followed as coverage it’s recognize methodology pricing. file developed So, our CMS for

reconsideration. data we to have they have after information We and current to LCD pricing Medicare, that. submitted our our will be HCPCS the so code commercial now schedule to would assigned expect The fee come that

So very we information, expect Novocure course, would pricing to LCD. of the are but information both come focused – the after at on that we’re we

Larry Biegelsen

we’ll LCD? Bill, just out be the LCD about the is final clear; then and it before learn after or final pricing to comes

Bill Doyle

We it’s believe after.

Larry Biegelsen

please us I enrollment? And XXXX. give on timing then METIS update could release you And is trial, know on helpful. an the That’s Okay. data the

recent we early little just on past, recent taking a Just little color it’s questions, bit precision to I any the more initially precision data. might but XXXX from for see a that? in know that guys. a more the and little maybe on slipped when updated XXXX Thanks

Bill Doyle

about so is XXX ongoing at Larry, Yes. sites. recruitment now

good recruitment, on all we’re think hope we the this now in we opened know and as we So you is of and as and proceeding a it shape. will sites sort We that but proceed feel don’t enrolling. have scorecard report we

Larry Biegelsen

drop. and in Just there and Germany there. questions, let for taking more guys. one update I’ll Reimbursement in me slip any Thanks the

Wilco Groenhuysen

morning. update. Good here. real Yes, Larry, No Wilco

the in reimbursement Germany based a the overall on As data have case-by-case impact don’t National quarters, we TTFields. believe the reimbursement we in said reimbursement of on Germany. developed material prior will strongly has in

So will the probably to successful if that progressing not case-by-case the application think according a We basis, lead is set. it But outcome. timelines as were to well. positive we’re

Larry Biegelsen

Thanks, Wilco.

Operator

Thank you. SunTrust. comes of our next from line Greg Fraser question And the with

now is open. line Your

Greg Fraser

folks. the Greg is taking Gregg Good for This Fraser morning, on Thanks questions. for Gilbert.

on the talked prescription Just recurrent prescription decline patients patients. on growth was market about the quarter? specifically you the in and and Can just for want U.S. in up the diagnosed growth in follow you U.S. comment first to what new the

Bill Doyle

down prescriptions it’s No, don’t we do by Sure. that we break the region in that see regions. way across but consistent

Greg Fraser

Okay.

For to Medicare, coverage on patients get decisions you apply they Medicare the Medicare are those the do continue being that for treated, patients the in already therapy? as XX% positive that coverage of assuming roughly are will

Bill Doyle

Yes. patients currently and they the that patients. the Yes. receiving to are becomes will active from who patients it as We it point active, therapy become believe apply new

Greg Fraser

update my there you on Got whether Switzerland. us for and with it. this an last Can And discussions and decision in question just those is EMEA, where important you coming year? are reimbursement stand for on give any countries points Israel specifically

Asaf Danziger

It’s you question. for Asaf. Thank this

that reimbursement of we the will so Israel. So national in year and a and we in – this December, we in reimbursement we call reimbursement, Israel, it’s that review once national get happened what hope basket hope

the middle we interaction are in review will process, we ongoing which package, patient-by-patient in However, this of we Switzerland, use we we the in do with hope and in the future authorities of the in start the model are Israel so fruit that see reimbursement. the Switzerland. German the to In

Greg Fraser

Thank you.

Operator

comes Securities. Mizuho Thank Difei line from our you. question And of Yang next the with

Your line is open. now

Difei Yang

taking my Hi. Good questions. thanks morning and for

couple. just So a

the later. The first commented. one have is China. I I on little a you on got apologize, phone may

specifically China, GBM? the to that trial is So with regards to waiver, for related

Bill Doyle

Yes.

Difei Yang

how you. gastric is down different? or it the drastically pull the Thank – does And still cancer less similar that or is mesothelioma arrays to configuration, at the cancer for Okay. more gastric

Bill Doyle

No.

size just they’re So have the to array. applications, the we accommodate configurations same the different on based all they arrays mesothelioma have now different technology. one right torso we body abdominal brain, the they’re are They’re technology arrays size In same of torso for similar. the In two and whether the or shapes. essentially size

Difei Yang

innovation impacts I think battery question the – you. and the clinical the the impacts and outcome. with And think or regards heard et on then we next about the energy regards How cetera? about timing generation updates, Thank next side, the array on Okay. density its is with should have updates to we

Bill Doyle

Sure.

today, our we system we and very again, as now further the Red response. tools gives So, the do now demonstrating described improve; pleased array that published as This data the first from us has arrays, the Journal the EF-XX were to planning just you NovoTAL described analysis dose to also system.

So efforts we have of focused on those. all

I too will over these when think predict they And releases various patients. exactly available all become early expect us to it’s for at come for improved in not I will of innovations once, but a time. series

Difei Yang

on congrats and a great quarter. you Thank

Bill Doyle

Thank you.

Operator

no further this time. questions showing And you. I’m at Thank

the Executive Mr. Bill remarks. for I’ll So closing with back turn to Doyle, call Chairman, that, over

Bill Doyle

can availability bring our the patients Tumor very objective, to Fields We quarter pipeline to and in were terms to within at to Novocure. which we number of the strong most pleased provided commercial benefit GBM of difficult a the expand who all our to world progress Optune So, to both the of in therapy therapy treat provide cancers. another Treating is

the so but a we business. generating efforts I generated didn’t question the think additional these cash for trials improving this, additional heard increase company that cash cash We can phase a QX get continued note four underway trials GBM as the in indications, us in strong think to pipeline X our also as X we’re our flow in with support additional foundation well and with I’ll balance you underway, a pleased planned, provided transitioning trials year. to about has we a all and second and phase trial from in of now that with as technology now we’re

for to your you Novocure, get QX. back interest thank and we’ll you. So in Thank

Operator

Ladies and gentlemen, you wonderful This and Everyone, may conclude today’s thank you have participating disconnect. the conference. in a all day. does for program

NovoCure Limited (NVCR) 2 May 192019 Q1 Earnings call transcript