NVCR - Earnings call transcript Q3 2019

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Operator

Ladies and gentlemen, thank you for standing by and welcome to the NovoCure's Third Quarter 2019 Earnings Conference Call. At this time, all participants lines are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference may be recorded. [Operator Instructions]

to conference like speaker to now Ms. today, would hand over the your I

Vice Finance President Ma'am, Senior Cordova, Ashley of begin. you and may Relations. Investor

Ashley Cordova

join Good Danziger; today Pritesh Chief by us for Executive Chairman, Commercial for us quarter thank Officer, our Shah; performance. Wilco our morning, Medical CEO, Groenhuysen; Doyle; Benaim, Novocure's Chief Asaf XXXX joined our review who CFO, Officer, Third joining am I Bill everyone and our and will to Q&A. Ely you our

The today www.novocure.com, be quarter on by in our viewed clicking results, third on the financial slides for Investor can presented our Relations Events section on website, the XXXX page. located link

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

we we for released today, available earlier this months which remarks the prepared questions. press open release Financials our on our Following September XX, for XX-Q, our the of both line nine and are three will ended XXXX, and in morning.

over to I Doyle. call that, turn Bill the With will now

Bill Doyle

of and income. NovoCure. delivering developing business, Ashley, positive you, everyone. our XXXX in We ever for first Thank morning, progress quarter net quarter our QX, significant a was good made remarkable commercial

of million cash XX% revenue flow growth, from EPS $X.XX generated and $XX to in In operations. we reported addition positive

we to development growth, value provides pipeline make creation. from technology continued clinical and can deliver GBM ensure the to and flexibility cash With future drive business flow stability investments appropriate our revenue to levers in multiple the financial our near-term significant

building Fields momentum. platform Tumor is Treating The

trials, pivotal expansion four of Phase aggressive treating We some most to creating X the opportunity, market a continue enroll cancer. significant of forms

clinical I'll this progress our to I'll first later speak review call. But morning's Asaf on to recent commercial developments. ask

Asaf?

Asaf Danziger

Bill. you, Thank

quarter year. Our growth. newly XX% prior for of were of continue diagnosed top another XX% up a GBM total. grow, versus GBM business $XX third record revenues Prescriptions the million, the representing delivered Net strong quarter line to

X,XXX quarter We growth of consecutive quarter since ended our therapy initial of the XXth with presentation patients GBM active active patient our data. the EF-XX on

continued to Our reimbursement improve. also rates for GBM

pleural chemotherapy under system HDE Last of treatment quarter malignant NovoTTF-XXX MPM, we our first torso the FDA-approved for FDA for received mesothelioma, pathway with combination the approval or standard L in indication.

launch initial and XX of U.S. centers MPM successfully focus completed required certified process. the high-volume Asian we the efforts believe approximately XX centers patients By centers. IRB And Our our we at the the IRB a certification, majority where training the quarter oncologists approval with treated. process approval at end of on are supporting, two

quarter an of first for includes treated start September first commercial late in patient time patient, the With total MPM. for patient ever, third our active MPM our active the

updates team investment providing tumor potential for lever, an future calls. dedicated business. growth developing a infrastructure, focused to Certifications launches We have near-term have are ongoing. on solid a and look as to our additional in on have And we forward further expansion geographical we valuable indications. prior commercial this discussed Often, future in multiple

market, enter operations five pleased second our our we EU France. expanding into, big will that I'm announce, to commercial

path GBM KOL Our initial to patient establishing focus will a be and and relationships, reimbursement. advocacy developing in

next other years. indications the over five steps loan first critical opportunity are prepare to and to foundation significant GBM market expansion These to for potential, the building the in

the to Greater launched Hong option their in formally for GBM February in partner Lab and expectations. Zai also Kong great in has Zai our make continues China progress. outperformed launch

Kong, Hong anticipated sign China. clinical in success addresses, launch of commercial And Optune's the it unmet in initial as Zai's ahead profile. medical of used compelling an need Mainland the encouraging We've

in regulatory marketing August for has The medical China on an Optune authorization national device Medical of administration GBM, the product and review is innovative application. accepted Chinese Mainland in track. designated Optune The

clinical Zai granted, And is to waiver year-end. for pursuing in the in option launch a try weather trial indication will the GBM before should be China. intends China

to the our I that, Wilco, will With turn call review financials. over to

Wilco Groenhuysen

quarter significant the third I proud net revenues. We strong income. quarter net in made ever, that business, in of delivering the ended also NovoCure our third the progress position. report, am a first to positive another financial commercial of developing quarter marked quarter record

growing X% Third quarter million, $XX.X were revenues and growing XX% year-over-year, net quarter-over-quarter.

quarter In consecutive than fact, XX%, greater of QX third growth. marked XXXX revenue in a year-over-year

net revenues million. $XXX now XX-month exceed Trailing

patient active sustained active we improvement continued net per revenues in a seen the to addition In growth, patient. have booked

Our patient reimbursement benefited improvements in revenue U.S. continued and for both per the from EMEA. rates

newly from XXXX. X the In policy with benefit defined $X.X built third addition, beneficiaries, September from revenues initial we the effective Medicare recognized quarter in coverage under net million

quarter, through team fourth focused on the the into possible. from as full realize typical our Medicare as ensure soon revenue working to up ramp benefit Moving administrative the is we

a Gross margin to Gross increasing the from continues gross was profit quarter benefit in ongoing efficiency and scale. $XX.X XX% million, reflecting initiatives margin.

clinical associated expenses primarily in an invest and for research and our up XXXX. of medical increase versus driven Phase quarter quarter, $XX.X was by the This regulatory to in continue with expenses costs affairs and an personnel in III and We trial the development in pivotal in increase third million with engineering. XX% trials R&D

growing to were personnel XX% third $XX.X support third expenses quarter quarter the our expenses SG&A of versus by primarily million XXXX, business. driven and Our marketing commercial up costs increased

result recorded R&D the States. a benefit In of United as tax an we third credit income of million in claims $X.X quarter, the

$X.XX in per income earnings was million with net $X.X Our share.

ended from increase flow quarter. operations Cash and million from $XX.X equivalents $XX cash, short-term investments with prior in cash an $XXX.X quarter We million. was of the the third million

development. and Revenue pipeline and operating continue in for to business technology margin the investments our GBM the clinical fund

investments improved are Moving to committed for with we long-term forward operating success. efficiency balancing sustainable

and with profitability growth and revenue pleased we the sustained the investment of the level summary in quarter. third In are

We will remainder into the XXXX. this carry momentum are us of confident and through XXXX

an the will back to our call hand I With update pipeline. Bill for that on

Bill Doyle

Wilco. Thank Fields considerable a with Tumor the is compelling Treating body of Fields therapies. There volume multiple and solid various evidence of broad a growing data. applicability across clinical Tumor cancers combination Treating supporting is by of backed you, in tumor preclinical

pleural journals. treating first-line with metastatic patients treatment tumor via I system of trial as Oncology, in fields a am trial cisplatin NovaTTF-XXX oncology pleased unresectable mesothelioma. L carboplatin STELLAR the STELLAR delivered leading the the with use for in advanced or The clinical of to the malignant from our recently plus Lancet report results we the pemetrexed research one combination studied published world's locally

added third demonstrated of globally overall Fields to building the impressive trial an oncology presentations Treating STELLAR momentum XX standard an increasing with survival Tumor chemotherapies. congresses including platform in months when presence Treating key Tumor The quarter is Fields median at was alone. XX.X

of cancer. FOLFOX combination include first induction chemotherapy, Fields Tumor in with Treating Treating gastric and and chemotherapy cancer vitro the of in efficacy presentation in Tumor liver and count, in Highlights studying vivo Fields on treatment data sorafenib in overall Tumor cancer apoptosis both studies combining enhanced effect. presentation In vitro combination cell based with in data the in with Treating Fields studying

with the inhibitors. immune Tumor rationale system Treating presented checkpoint combination for by Tumor providing Also innate that expanding studying evidence the external results a in Fields immune Treating authors activate strong were preclinical Fields

oncology appreciation These Treating there agents or data be the research synergistic We to a dose-limiting align Fields Fields additive potential with for to-date is anticancer our of evidence of with believe Treating showing any Tumor growing landscape. other Tumor broader value to the toxicity. without across cumulative

all respond Fields. lines, In we to have a Tumor Treating that tumor found consistent has not we not tested Tumor a and Treating have line does effect cell tumor cell Fields

development. in addition diagnosed through GBM we efficacy Journal this Red Guided Tumor ease improved have ongoing of programs, preclinical improve showing and newly Treating patients. of our higher In significant engineering to opportunity product by data published survival that earlier doses a use Fields to the and year, of clinical Optune and

array to future our to mapping and are design and further develop increase thus layout on teams engineering forward providing efficacy. intensity Treating intended calls. to software Tumor to look Our enhancements arrays, our Field working transducer updates We transducer and

to variety may benefit of the therapy who tumor treatment. determined Fields Tumor are types Treating from with solid We a patients to cancer provide

progress cancer and than patients pancreatic teams lung in to cancer. alone. in ovarian in Phase If in enrolling increase XX-fold addressable will market randomized make a Our X brain more Phase cancer, create cancer, metastases, continue X approved, indications the and our our in pivotal pipeline in liver trials late-stage U.S. the study pilot

first income. oncology quarter, and NovoCure the In is quarter performance strengthening a company. drove ever commercial financial execution commercial our positive net of global third

of by XX% greater platform is growth. Tumor proprietary consecutive Cancer Our revenue Therapy quarter XXXX building our marked third Treating in year-over-year momentum, Fields than

from on We disciplined focus future creation NovoCure, long-term indications deliver sustainable and for revenue shareholder development. product our unwavering execution to value pipeline intended see and growth and existing both significant through bright a is near-term

morning. for you time for to Thank I'll that, With your call questions. turn the this the operator over

Operator

question Kumar our [Operator first Instructions] comes And Vijay ISI. Evercore you. from Thank from

Your line is open.

Vijay Kumar

the revenue I'll is U.S.? comments, at reimbursement right Based looks And just sustainable. start patient the the here quick you on Is housekeeping through? we're reimbursement to Wilco. in on Congrats Hey, the your question the when this like on from guys. nice morning. it revenue way this A read Maybe front. trends that seeing look per

Wilco Groenhuysen

Yeah. sustainable. is We believe it

we've on, significant improvement As reimbursement we other said earlier patient. in made calls in per

in Now that reimbursement billings the recognized improve quarter. to the first million improvement we And -- billings third kicking would further only remember, with active patient. in related Medicare with for and $X.X in September

Vijay Kumar

true-up correct? was XQ or catch-up payments in there no And

Wilco Groenhuysen

No material catch-up payments.

Vijay Kumar

just trend one we have script That's then, new and I was thinking curious the script XX-plus these GBM given recurrent had helpful. could year a versus is when trends away percent, little GPM GBM you wash GBM. GBM could should and new see you what in volume should clean next it and for volumes, a seems lighter, about overall out new And you I'm annualize parse the record dynamic year? the Maybe the guys on Because next know queue? be script

Wilco Groenhuysen

We that we've that trends the newly you're But tempting discontinuation. us that the I we third trend extent scripts in seen as to what improve. is a To the in we've predict improvement guiding. is resulting is quarter few a further and percentage XX% signs think seen into to the quarters of diagnosed likely last now. believe it see in of total it no over consistent do right it difficult

Vijay Kumar

China? looks last in big let It others is in here a one before getting Labs that China on waiver possibly How maybe about waiver comments slice I jump revenue one If thinking get trial be China. opportunity maybe And market? they do on. should we you Or the like it's trial a incremental could us? China Zai for on how ramp

Wilco Groenhuysen

Yes.

be with to continue extremely pleased we partnership with Lab. So our Zai

As going well approval we in in Hong Kong is the remarks, gone extremely prepared has in the work Mainland, well. toward launch mentioned the also extremely and China

device is Chinese August Optune early And step. a And application they the also as an Zai that of in is and as end mentioned We innovative potential QX. for key of key also NPA-designated that step. commercial is accepted marketing launch the medical course, a was which a the preparing

are said, it's exactly that with for China to But estimate be there would With uptake largest what think there. GBM. too post-approval year. that I we each that GBM predict are people in is market the the for XX,XXX early This us diagnosed

Vijay Kumar

guys. Thanks,

Operator

you. Thank

next from Biegelsen from Larry comes Wells Our Fargo. question

open. is line Your

Lei Huang

on I morning. for want Hi, calling question. on my Lei mesothelioma. just thanks Larry. for one in It's good to ask And taking

on You with talk period of to you've about that what far. the time centers you're the is the you and targeting training so Can patient ramp centers XX bigger trained to? kind XX mentioned referring first therapy

Bill Doyle

Sure.

I the our is of Lab comments. question. to Pritesh this to to well Shah turn Pritesh I'm it commercial and to Officer as Pritesh want as the the our for person leading you thank launch the morning. to business going is and audience who's introduce over Commercial this So Chief make Zai rest

Pritesh Shah

Thank you, Bill Great. and questions. for thank the Lei you

recall you days, is centers. the first we're launch on the to We're our -- which the of It's MPM where pleased launch. the in the certify So with the from launch, track. is stages first step GBM if very

heard I'll that focus you certifying because that audience important as about. on future mesothelioma for as it's the we're well really our pipeline

also to are here our moving the radiation at prescriber focusing key XX treating the radiation and and fields, for is becomes other centers, the tumor on L and that is NovoTTF-XXX treated our mesothelioma these oncologists indications. We in goal oncologist primarily ensure where forward mesothelioma

step of the The process. the launch is second IRB

is So on and you IRB HDE as an here also the bit step approval. the know takes requires That onus center. of the a time

first two the very to get three. So pleased centers quarter IRB we were see approval in

or IRB process. centers The now second rest the the in the step now of are

in are those to year that certifying to sure XX get will this is So and we of the mesothelioma centers access we go. work NovoTTF-XXXL as ready patients to continue that year, the continue making next and ensure to our centers first with goal going can step certified so are into to on end through we able

Lei Huang

Great. Thanks radiation think Is was on a that. other and last talked pipeline TNB And One ask I -- GBM new of that it then can couple the plus you at. for one Optune a I -- a another on about on plus Optune you status agents. just there you're question call if that? front, the looking studies update plus

Bill Doyle

us call joining Q&A for again the pipeline. to to turn first to Ely the handle on the but questions going the over today time, us Ely Benaim. is I'm the last joined So on

I'll to it So over turn Ely.

Ely Benaim

material There's studies. evidence user -- the advance optimal gather planning to know, supporting still We Thank the GBM. use. two these We're as in no we you, information Optune the about Bill. And you updates. really additional intended Optune really scientific

Lei Huang

one Any on Thanks. in one. update can last squeeze Germany? if reimbursement you. national Thank Okay. And I in the

Ely Benaim

now like just still right our -- remind in in would we that good I to everyone It's Germany very -- shape. is reimbursement

still in we So are Germany. -- working reimbursement national on but

next discussion about with bring regulatory reimbursement. fruit in with this will during really the that discussion we Germany believe -- regulatory some are and And We -- the authorities year. over

Operator

from our And next JPMorgan. Thank comes Cory from Kasimov you. question

Your open. is line

Cory Kasimov

my Thanks go And sequential continues guys. patients to Wanted the prescriptions. climb back for had in to you Rx. quarter-over-quarter, taking questions. active morning but the drop good to Hey, slight obviously the

be type or -- trends? type curious some So other script I'm sequential should the like one-off look in impact this some to we we when another other seasonality is about there that marketplace dynamic a component or of thinking at of

Ely Benaim

or course very can more brand-new therapy U.S. new patients reached the a any are sort Corey -- a the in of are We peak focused therapy. that is who active script markets we've more concept. trends. our It completely course. We many of from GBM on of don't believe There plateau. in It's with benefit

and to more for new grow over a And pharmaceutical. it so we expect instance peak drug slowly time to or

Cory Kasimov

talk here. the And then want And then design statistical cell of a non-small accrual curious sure can question about across Okay. your the make cancer follow-up couple I'm lung or rates just things to on study. understand analysis the geographies? you A I I here.

patients I'm primary or at power And So the of comfortable then on have use are right? that you that the enough will secondary analysis endpoints? look with so, endpoints if checkpoint those right Is is pooled background you subgroups secondary all if -- inhibitors. regardless across and in PD-X without

Ely Benaim

is this Hi, again. Ely

call. the And second call So, thank you your yes. for for answer your is

arms -- to require we in getting don't or endpoints. now study combination But PD-X think that this the with study. PD-X think I both sense power interesting in two the primary/secondary inhibitors. we diagnosis is have have we that quite pathology be are this in the even for And we current more

as On the North mentioned America across we don't and really ongoing we figures. Europe, patient XX before, we enrollment but recruitment side, have have provide sites

but So, our we'll patient we'll press last -- enrollment. release

Cory Kasimov

I use? of between expect Okay. that will PD-X terms be background require the in that you understand do balanced groups you relatively PD-X don't study but

Ely Benaim

yes. That's expectation, the

Cory Kasimov

it. Appreciate guys. Thanks Okay.

Operator

you. Thank

from Greg question next Our Gilbert SunTrust. from

is open. line Your

Greg Gilbert

a I commercial question. Thank quickly want you. start just to with

shift you talked before couple some of commercially to You Can R&D to years into you about questions? France. couple where share of the on in next a thoughts the expansion plan expand else I

Bill Doyle

new hi enter. markets We'll -- [ph] we as Bill. announce Yes, this think I Cory is

Europe. and five one a countries to in them the think obvious are at one is will rest I our France. next plan take time of the the markets And big the be

Greg Gilbert

Okay, great.

momentum about On the But the about interest anecdotal least hurdle torso. of torso around you on a of approval an sort in research mesothelioma the any you torso? outside talk can your applications? research you're additional interest seeing on the or at talk approval quantification color imagine official some the I side walls of how there can there's having research has affected logistical of

Bill Doyle

and been jump clearly anecdotes start I I'll Pritesh some in. But the comments in and mesothelioma or important to very think if Sure. can maybe NovoCure. has they Ely approval have

the of who're used doing substantial about which interested can research oncologists brain whole It's outside be in indication that now therapy the therapy. for -- other the was first It this of the can opens therapy about a evidence audience this who are tumors. learning in new interested

of above terms was relatively milestone torso it time think beyond the good I So, and real potential small be will in NovoCure, in application. validating which a the indication for business still

Greg Gilbert

Pritesh Okay. in lung but issues a there? a And the bit for Thanks. can much bit of about you be a launch touched and say should specifically centers sort setting? think mesothelioma overlap lung to will other logistical I relate and you preparations in already, are on years position this little a of the little to then speak How how couple in

Pritesh Shah

question. that for you Thank Sure.

So, early lung about non-small it's to too talk cancer. cell

to very excited we're So, market with prepare mesothelioma. the

of on I really cell of us allow lung a to is of have one launch the audience key this a Being to one our get non-small preparation just we focus cancer. – think when will turnkey radiation more successful to the on front oncologist. elements

with seamless lung the launch mesothelioma get launch building more the torso then on front. for to experience over non-small allow execution that with as radiation and preparation market allows what So is application. us the cancer cell oncologist we time And a

Greg Gilbert

Thanks. Okay.

Operator

Thank you.

Rajavelu next comes from Esther from Our question Oppenheimer.

Your line is open.

Esther Rajavelu

questions. taking Thank you my Good morning. Hi. for

likely U.S.? to Can Greg's And Following some how pursue mesothelioma. opportunity the view on something thoughts you you're on you maybe on the share outside updated question whether up here? OUS

Pritesh Shah

that Sure. for Thank you question.

still to the we're launch the is process about Mark our the we that in the on of ensuring us talked as U.S. XX we're to in regulatory access opportunity gain the now Europe, focus a in treatment learning which then centers bringing We're would in allow CE successful right So and Europe.

Esther Rajavelu

But you'll Europe I in separate need a run U.S. from trial? to trial assume the

Pritesh Shah

our time. not at this is expectation That understanding

Esther Rajavelu

us you And Hong market? and read-throughs broader are Got China priced incremental Can then Chinese Kong the help understand to you the Kong how any in revenues. from being you. is Hong booking product in

Wilco Groenhuysen

at time Good the you We associated from disclose this of Wilco. revenue. consists do China point two components morning, One is in with effectively Esther. three as or revenue royalty Zai It is, partnership. coming This relatively modest know.

is we would the part boxes. second with them and you that supply of both agreement The as will decides recall one equipment arrays

So is consists that that revenue amortization of in our also and third of component initial supply the line sign of the the fees.

made the very are those a approval what key this difficult It's components. assume let's would royalty successful and Upon that pick to to time we that at the refer predict commercial up. and launch point in expect extent to of Zai Bill to stream back in So on comments there in that will immunotherapies overall of we call captured but do early less in China. line think most a much the with more can by be call be pricing to there's that I'll But earlier Zai. opportunity how likely or base XXXXX it's significant too patient

Esther Rajavelu

my with implications When what that trial? Optune of the initiating And And lines if becomes in therapy last potentially radiation. concurrent Okay. you do about then using are anticipate talked had reality? use you a question earlier that

Bill Doyle

So, Ely. and take then turn the it to maybe question I'll over last first

always in about being evidence significant internal talk about Fields. we bit on engine about today a in vivo. and We a R&D this academic significant don't Tumor – calls both the R&D but there's done the Treating we little external there and vitro now So, preclinical in have talked

of of the One that is Treating R&D combination radiation. with Tumor aspect Fields

it evidence is use radiotherapy. We the efficacy GBM radiation. use of see preclinical radiation. the today approval our that enhances after in with supports So for The

be we're the benefit to extended in that them So would prove are again we extend trial. long-term. the additional a patients give would start The this one is intend two something therapy. conducting the could of the for potentially that would That's And Phase X that in to approximately implications study -- it our survival which months business reason the benefit earlier. the trial

should benefits So those are out human in population. some this of prove the potential

Esther Rajavelu

Appreciate Thank it. you.

Operator

you. Thank

comes Our next question Yang from from Mizuho. Difei

is open. line Your

Difei Yang

Hi. thanks Good morning, and questions. taking my for

States, us a the say, opportunity potential just could -- outside of regards So talk couple perhaps to primarily timelines then reimbursement about quick for and CMS of let's you to in helps maybe And on mesothelioma? the understand Europe business pathway mesothelioma? ones. the With United

Wilco Groenhuysen

Just I question This if right? Wilco. is one

that out takes the Medicare first second We're was the in recognize quarter. reimbursement the we're in part with that's quarter the and The Medicare revenue processes a revenues. expect a September lot realization It actually recognize that recognition. Medicare benefit of to for to question will significant fully to that of start to pleased achievement Let's able X. in establishing patient million your of be a and the as of treatment us recognized in and the full third of accomplishment able figure work very great We're revenue and billings. medicare and September. to implement of We the making those quarters to design improvements allow process $X.X come few the next

part your it what related second to of -- exactly The was... question

Difei Yang

Europe.

Wilco Groenhuysen

Europe.

Bill Doyle

Yes.

continue I we and topics I upon think, touched well. think on. I to few it of we -- as mentioned a And those Asaf earlier think

reimbursement again are securing Germany. we in progress So significant in national making

that think the second don't in year it's have XXXX more October part likely Asaf think or in would expect we alluded still to We of Germany. we reimbursement in in March even not that national in the to than material.

past And well to about as the we talked revenue. overall in

filing very case-by-case from in successful substantial on claims are As realizing and that. a basis we revenue

too net of might to will have give that will in physician processing in think those we a I support community our the and but So if reality, any concluded It on on impact patient early be will the We're and reimbursement working hope discussions help very that any getting of quality us the when also the probably Israel. data us modest indication a in It's on become that positively. secured it have revenue. give claims. Switzerland efficiency and

Difei Yang

U.S. have to subject -- can opportunity the ex opportunity U.S.? the U.S. then bigger mesothelioma than the a ex you in does is And

Pritesh Shah

Pritesh, question. that This I'll answer is again.

thank for So your you question.

are As outside will to in the And in and our made United we the that ensure the in mentioned to related we States, yet. -- we successful treatment in the the the of not of And patients opportunity bringing Mark. determination focus process is opportunity in terms we depend of which we're that have on the of country just in CE go it U.S.

Difei Yang

Okay.

So my that question the Zai trial cancer opportunity Lab to on running you in gastric significant And China? to the do or leads run rest do on. world see final a that significant trials that is see planning outside is U.S. positive, opportunity of or you -- the assuming of

Bill Doyle

Yes.

So trial. the designed II stages a in implementation being and is of trial that's is Phase the -- we're that

So our expect don't an issue, hints of II efficacy. We'll we it's safety Phase to consistent of then and trials. see course with focus on other where on

Asia. of From doing are to that a in It's well. III are Asia. trial. would would in There as why Phase there, we trial smaller and expect the opportunities perform U.S. we're course in opportunity cancer The is those we largest the gastric exploit

Difei Yang

Thank you.

Operator

we have from a do And ISI. Vijay Evercore from Kumar follow-up

Vijay Kumar

thanks. Hey

the new you a change growing housekeeping you Just they've in Q? all can double or teens that trends follow-up questions, I if range. those think new been Did digits were because on GBM clarify at in the of couple will scripts the growing GBM,

Wilco Groenhuysen

We saw Wilco. Vijay, increase sorry a -- this No. is X%

we as X% XX% over scripts. which newly QX of increase scripts said a on had about QX. earlier So We total is, XXXX diagnosed

Vijay Kumar

That's helpful.

combination I at now the chemo, four these KEYTRUDA. patients. I-O trial the in got they cell have that cancer, arms have but -- with is know itself combination non-small with -- first-line they And drugs trial second-line looking On you're they're been the lung the the status,

combination they've trial? is would you I-Os the on given a status I'm could just change have first-line a to based would because trial? been the get that for be Or opportunity Or indication the curious separate that first-line this whether the that in guys? you

Ely Benaim

Yes.

before know will Ely. So right with this don't have as we Treating Tumor all we'll -- first-line certainly we The that potential think trial indication. but the beneficial. is combination any it mentioned get Fields a But that with this we cancer, be of

So combination we for -- space with with combination with with -- cancer docetaxel. the that lung this checkpoint non-small cell in is also immuno second-line there area still or think in inhibitors treatment the a

to does So there's inhibitors not non-small lung going checkpoint unfortunately cure be cancer. always -- cell

so patients all the entered these potentially also that would have in and covered have combination. will we receive So docetaxel that

Vijay Kumar

flow enough helpful ongoing And operations maybe balance on Free because needs for last cash cash That's really building the sheet. one looks your the sustain, just is is ballooning on your on trial that deployment? positive, expenses one. right? and capital quarter, like I'm any on curious it to up deployment every thoughts is thoughts cap

Wilco Groenhuysen

Yes.

I first flexibility Tumor with the Treating that Fields think to great business value revenue GBM emphasize from everything now and us we'd like So the platform. that to foremost, long-term to do provide profits build and we need do our to

improve includes full the further as opportunity, both significant a develop it improve for for efficacy patient continue we paying to clinical, -- program. full development. also a to the to paying And Because technology includes that see to comfort. the technology And device, and

long-term flexibility focus we need undertake to it's So cushion we that that's everything now. this undertake to build clear and have to value. right our that do But

Vijay Kumar

Thanks, guys.

Operator

our I the further And lines. you. Thank like phone questions Bill Doyle am conference any no remarks. to showing And closing I'd turn for back to, from over

Bill Doyle

Yeah.

was like first I'd profitability. all you once NovoCure. This milestone of your quarter another for interest quarter again So us, for to in thank just our

with company. crossed those years XX-plus just milestone tremendous is us his has now a affirmation in like of For of who XX-year years project the and of for years, This really Asaf, been this involved work. have hard

thank So, you.

Operator

today's conclude the program. you This Ladies conference. and does for in thank gentlemen, participating

may wonderful Everyone, all You disconnect. have day. a

NovoCure Limited (NVCR) 31 Oct 192019 Q3 Earnings call transcript