NVCR - Earnings call transcript Q4 2024

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Operator

Good day, and thank you for standing by. Welcome to the Novocure Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Ingrid Goldberg. ahead. go Please

Ingrid Goldberg

Doyle; thank leadership fourth and on joining to Q&A. members Chairman, us phone CFO, and Good Brackmann. will Christoph and you be full Novocure's Other Bill Executive our quarter morning our I'm Ashley year review Cordova; this our executive morning. of with for CEO, team XXXX the for performance. available

under found quarterly reference, accompanying Investor this on be our slides can the website, your For Relations release page reports. on www.novocure.com, earnings

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

in from earnings website. of and to also be of items, appropriate, can measures noncash non-GAAP the important attributable specifically slides Relations by tax SEC refer EBITDA taxes, our We the generated Form are an to press adjusted amortization of it and measure as today. and and rate Investor page best measures with to earnings before depreciation, reflects earnings GAAP believe financial may EBITDA, the a financial non-GAAP material business, share-based adjusted is our release, materials in impact value business. compensation. Reconciliations XX-K structure, evaluate of metric removes Where the we accessed our our to These financial included interest, filed our capital our

turn we Following will line now Bill your remarks to our today, questions. call Doyle. over our I Chairman, will open the Executive for prepared the

William Doyle

everyone. good and Thank you, Ingrid, morning,

FDA our of in aggressive of years, Novocure for our and single cancer has the in from at milestones some to most on non-small extend lung set XXXX, a tumor-treating of mets indication with cancer non-small III become cancer cancer, largely and After we treatment defining fields. glioblastoma. a novel pancreatic company. efforts commercializing of XX for the as cell our by to patients to and focused forms therapy successful to survival brain commercial readouts XXXX year cell Phase XXXX, a For key treatment achieving developing approval mission been the move for Prior Novocure be oncology multi-indication beyond is lung

and core indication cancer need. our am I objectives many now organization: business, of report TTFields focus we and the is all our pipeline. grow of define these objectives. on deliver patients to our GBM execution bringing clinical more therapy promise in non-small to we cell launch clear on Our Entering achieved our proud XXXX, for X lung

generated to a additional X net immediately lung in locally we randomized approval we patient cancer. pancreatic our million readouts the non-small We treat cell revenue, advanced positive cancer III brain treating patients growing XXXX, broad $XXX In cancer PMA FDA began over active X,XXX. to non-small with and received label second-line global count trials: lung in large in from PANOVA-X had clinical in cell U.S. and And Phase METIS from mets

years poised are XXXX. a have founding, for in In stage at treated X,XXX to was our a XX,XXX over pivotal cancers and of of thousands nearly tens we XX set achievement reach to a difficult-to-treat XXXX patients now of the since more year people, has GBM and grown years come. Novocure with to the strong team the in other year

to patients approved indications. our preparing scale our included while effectively continuing to operations has expand reach evolution to these organizational Our

retirement marks in the our succeed announced joining XXXX our after of the foundation for Tumor treating Christoph platform. his will our Novocure Cordova, Treating chapter our team Ashley Brackmann Fields begin patients build of strong founding as with the our upon CFO. Asaf we Last December; as a that would new to new realize potential and the CFO, year, full Danziger, we beginning GBM be CEO, to

pleased the am our full then provide to XXXX. call Ashley our will your on which I to year to take quarter achievements we for Christoph after and our will and performance, more in XXXX questions. financial turn review detail plans fourth

Ashley?

Ashley Cordova

Chief step to into history. Officer in Thank I pivotal you, Bill. of this at Executive the am Novocure's honored role moment

patients never challenging has mission of significant most facing with urgent unmet tumors Our more the felt need. expand to followed some reach our we as

our detail more business. launches. to provide of grow strength financial pipeline GBM To remains in and was providing multiple company, XXXX foundation first on the GBM invest remarks, in Bill's execute our objective to our opening our

In the XXXX, for time. therapy we by surpassing active XX%, first grew active X,XXX on patients patients

to Germany contributed Our the rates growth top Improved as multiple third-largest and active U.S. pricing was and net driven growth including approval by performance our complemented U.S. France, global in higher patients. market, strong markets, line XXXX Japan. increase now in

XXXX lung process building year, a launch approval. a thoracic submitted PMA we data newest FDA Entering in in indication, application to cancer. Phase III sales clinical force of in trial our and on of began Lua, was LUNAR FDA anticipation the goal second Our the the Optune to the second-line based non-call

label, On both with a October and option. checkpoint concomitant including FDA as of received therapy broad XX, approval physician's immune we inhibitor toplitaxel choice

received Lua immediately And we the and between in therapy. active year-end, team approval patients the we finished field. year Optune with XX and sales was XX prescriptions, Our on

from patients radiation are the to therapy in new early And a unique initial these interest with access eager and non-small cancer. is and in and lung we thoracic immunotherapy are cell physicians seeing chemotherapy pleased Patients promising. are both and medical oncologists from option. concomitant feedback We oncologists, results oncologists

is promising, that process time. remind and While are take we in the reimbursement, of demand investors negotiations currently early we securing these

ramping XXXX revenue with in We as material coverage XXXX in expect payer expands. coverage milestones

our with for METIS extremely indications lung Tumor brain our Fields radiosurgery. in following objective promise need. clinical Treating high treatment on XXXX cancer non-cell metastases stereotactic In of pipeline the from Our investigating unmet line top successful we final therapy trial announced was to the from March, Phase of deliver results III

METIS we announced intracranial XX.X supportive its and pancreatic median locally of results point. Phase our end PANOVA-X with compared In Treating December, treatment to XX.X exhibited cancer. care. progression investigating with to III Patients time gemcitabine treated together advanced successful the for months with treated treating therapy field top unresectable paclitaxel Tumor line therapy for primary Fields from met months tumor nab patients trial,

receive overall trial survival of point therapy months demonstrated the benefit median primary its in met randomized and Tumor compared significant also a a Fields PANOVA-X arm. end as Treating demonstrate XX.X statistically in only control months III notoriously to population. XX.X survival is to this difficult-to-treat first Phase PANOVA-X to patients patient the

to launch, lung key patient Xx with increase pancreatic population have populations expand data with eligible together to conference look extremely metastases and lung cell and major Brain to supportive, recent serves need. and opportunities our cancer, from our PANOVA-X as the patient year. forward opportunity. presenting the pancreatic cancer potential physicians at Early have very set our a market medical reach cancer high our to represent GBM we advanced locally unmet each been from reactions full later this METIS non-small

like lung therapy additional efficacy pancreatic treating and to the LUNAR-X, studying duration pipeline these in PANOVA-X, field catalysts, cancers. near-term touch trials Tumor addition GBM KEYNOTE-DXX continue and in GBM, Treating our in to chemoradiation we years. potential expansion chemoradiation, next we our Phase after invest TRIDENT, ongoing of the starting benefit is over these few label III trials of Fields. With Beyond and the potentially on quickly, see tumor TRIDENT rather than trial increasing To

we fully half the in of data expect enrolled, and first is TRIDENT XXXX.

trials regimen promise II and PANOVA-X concomitant checkpoint treating studying These Our our of KEYNOTE-DXX use our are the pipeline our III Phase Phase trial. set. II missed data field tumor trials that LUNAR-X, other include LUNAR and a Phase showed immune III LUNAR-X, inhibitors, in our the Phase therapy a

in trials XXXX. we the the of The the are where to benefit. wave innovation therapy we have the clinical first These established and enrolled, and already in next Tumor represent pipeline of significantly Fields half and expand trials fully first of clinical use cancers is with X PANOVA-X Novocure's Treating the expect enrolling. data potential open

development the product the progress arrays in in The Beyond advancing HFE of lighter made HFE our legacy milestones program our arrays. clinical our with we arrays thinner, achieved than and pipeline, and our U.S. key Japan. more flexible are approval the

therapy. field in major barriers the ultimately of out in next-generation rolling has important been to are market HFE HFE tumor an for usage, expanding all the and encouraging. improving array rollout the We and markets, patients' believe very arrays is We treating our reducing adoption step feedback

evolved. on reflect in progress has XXXX, achieved Novocure we story As the the substantially

years on to prior now the reach year. us, With execution. of binary start, multiple expect we a strong behind to and we events this are important XXXX milestones off clinical is focused

In insights launch. provide continue our lung to Lua cancer, into progress the will we of Optune

in brain in We are we approvals in Japan. and and the in this of year. and U.S. pre-submission with guidelines application reimbursement engaged anticipation mets, trial the discussions and publish later the a regulatory clinical will FDA to pursue In Europe expect METIS submitting PMA results

anticipation are the and expect And data medical the FDA peer-reviewed with this of a submitting by journal. in publication pre-submission cancer, upcoming pancreatic in PANOVA we followed conference, In PMA year. an at to later application we discussion a present again, engaged

of journey FDA cancer, indication and therapy the XXXX. vision have beginning we both Novocure's for The platform we indications multi-indication the as a to company. XXXX brain evolve clear. for a potential pancreatic designation is With era from GBM new in in one breakthrough in in mets both marks launches

we are patients possible incredibly working for as an build as extend on many survival as foundation. strong to We

I executive Brackmann. to like the turn our would that, to newest call colleague, over With Christoph

Christoph Brackmann

multi-indication at we joining Thank from an joining you this be time indication single very a Ashley, Novocure this us time. feel a I This unique morning. thank exciting for privileged for as incredibly all company, you, and Novocure to to pivot and is

in Japan, reflected the execution growth. fourth growth quarter compared rates of in patient million increase success continued and of strong of in year launch was $XXX increase baseline. XX% growth significantly primarily the XX% XXXX full improved XXXX, successful was revenue a our million in of the This are by of generated XXXX revenues and driven and in France, same U.S., to year-over-year. We now the an in year, which our period approval Germany $XXX an and active for

rates growth closely $XX.X in approval for prior quarter Optune of the XXXX growth the million million and resulted in is during Improved to expected the in patients. period reflect revenue active claims $X.X U.S. revenue year. Gio full from

we reaches mid-single-digit to year. at to expect business maturity, GBM this continue grow low rate the As a

year this anticipate in focus the Ashley side, our On meaningful on contribution generating revenue lung as educating expands. negotiating payer physicians, coverage and as We is coverage. earlier, explained demand starting XXXX

further taken to we have on in path population GBM patient ahead, indications, reach the is opportunity, very Xx execution we to larger patients. Looking together, clear we a multiple and than address which, our focused these believe are

margin was revenue in is the the due the improved to our XX% year The margin XX% gross full attributed approval U.S. rates gross in quarter net in primarily in Our to in fourth compared XXXX and per XX% patient, improvement to for XXXX. increase the

we headwinds margin. non-small cell cancer arrays to of the the year, the This expect be launch in launch global HFE gross to lung

foresee current global estimates, networks allow to will situation and in to flexibility supply fluid margins material the term, chain Regarding continue we the a we discussions, our short on but monitor this not optimization. trade capacity global for do ongoing Based manufacturing closely. impact

driven increases respectively, $XXX in X%, and of XX% for for expenses quarter and expenses million quarter marketing periods. of XX% $XX full compensation related the in G&A reflecting the were compared and primarily XX%, by reflecting the year, million $XXX respectively, year, fourth lung to year million prior $XX and Sales approval. fourth were the full to million and stock-based the increases expenses

XXXX, lower Excluding restructuring stock-based by our compensation, G&A than efforts. were XXXX million $XX full driven expenses year for the

incremental staffed, we of for Looking development additional and our both ahead, bringing fully for expect be the $XX some are expenses forces roughly R&D expense fourth quarter We in periods. stable total the in and launch sales costs and would preparation decreases thoracic the were primarily million, from Germany XXXX. Research million, to for marketing anticipate U.S. in $XXX as countries. annual now prior X% to our in

of from per the million $X.XX quarter for $XXX loss $X million loss or the year fourth Net was per for million, the was or million $XX share. increase well fourth operating adjusted in million Adjusted year. increase of full XXXX; share. $XX quarter million, $X.XX an $X was EBITDA $XXX as was driven was growth increase of QX net Net for adjusted expenses. and revenue by as disciplined year This in an compared EBITDA management to last EBITDA

goal to growth material continue anticipate a and invest basis sustainable more are remains opportunities, generating profitability we on indications. generate in at driving we While towards. once positive new adjusted actively an Novocure something We important from revenue EBITDA we

XX, and Cash cash million $XXX as were XXXX. of equivalents December

have for the fund believe due which facility the in pay note operations necessary our a we convertible to note the funds and quarter. hand foreseeable and the outstanding, comes reminder, full a via As cash We million future. $XXX capital combination with credit fourth of on available provide us the convertible in

call back to turn for the like now comments. to Ashley I closing would

Ashley Cordova

Thank you, Christoph.

most to the aggressive are we clear: close, extend of survival of vision To in some forms is cancer. our striving

prior could With the from a we beginning single events patients. Novocure's company. the And of we behind of This we in Fields focused are year clinical GBM new Tumor multi-indication marks X of journey years, only into now a evolve a us, execution. therapy Treating years binary afford as era on what indication if the look the surface platform scratching we are beyond next

I'll questions. now operator call back for the turn to the

Operator

[Operator the Instructions] Our Partners. Leerink line first Jonathan of with question comes from Chang

Jonathan Chang

of we the at you provide year. we presentation full provide any data the could when end disclosure granularity and the can the more we learn on PANOVA what when presentation? get might last on line Can color where versus any full top And you see

Ashley Cordova

have be get more Jonathan, conferences out, is share spring, we short soon as can't start all obvious we in soon can and to the We're the granularity. I'll then of can Nicolas in But answer will. provide what we'll is, acceptance. with jump unfortunately, once the converted Ashley. this the we more targeting but is we as PANOVA-X shared able we

Nicolas Leupin

to This these have to data, thrilled don't mean, much Thank is to are Yes. Jonathan, this. for soon. you, you, Thank important are them really Ashley. we add Nicolas. I question. that I present and

Operator

line Sandler. question Our comes Piper next of from the Bednar Jason with

Jason Bednar

I wanted what investor launch the the of pretty the lung start lot start. just a A on questions lung around was trajectory side. after of good to

you can targets I think you fourth would agree scripts a on expect these a don't us in and consider to the you lot patients, of guide have quarter, do or I as the And but 'XX? look trajectory next? success in the at the think when about and we this we year of look like also, cadence what kind here U.S. does the of metrics

few And there customer all, I'm talk layer on would you here, like can about repeat actual at early then lung, a helpful. expansion being the anything your compliance, base the doctors but customers, if just of doctor patient of sorry, I'll be experience in

Frank Leonard

the launch out volume terms questions. about off is in this maps our for Jason, to Thank Frank. growth. for the I'll objectives you how of that start talking and

to with the to right the the First, that's as right physician take learnings physician before, that ensure our what first initial And on that from focused patient, we're patient experience and prescription an that the right time positive it's and really confidence want the GBM, strong then we've getting physician's a within which objective. next true expansion launch we said for the practice. really builds say for at

prong we working that we as with and say that's coverage the insurance It payers enough policies coverage argue over which our then have also build need of Medicare drive commercial to positive payers the that what really into good really are up that eventually towards we is turn policy. I to experience strategy, a with positive move companies cases that with And coverage. would the we ensures launch towards second

that guide. that don't, all build we said, payers. patients practices as But volume are of know, and good with have you the on we strong those don't interactions and year start to sufficient So a to looking up we we relationships with this good build

in knowing sign cancer. let's an II cancer that's that Phase the anecdotes, Phase release not context just Treating think Therapies of really in the at the therapies I at how they And targeted the Fields Ilac you okay, gone going, the conference and about perhaps couple understand Fields the I was think the a data Tumor that Tumor with community being early programs. this of saying, terms of to section, give to along new I lung all of Treating to of landscape emerging III sort Fields was of sort and had of see week, from of emerging in that now lung are last ask has first Treating included Tumor of pleased treatment skeptical launch therapy I in the Targeted other is

really, color go like into. So to happy And we've if me additional on there's really pleased been you'd add front. areas to different that

Jason Bednar

Frank. you do little the one side. bit opened follow-up since helpful, That's on Maybe appreciate I it. just kind of the door payer a

Ashley Just year. mentioned start prepared in coverage should occur have we to remarks I that think wins this that her

then Can when Just payers those talk you maybe to establish payers data? in at when how What about expect sides, talk looking from expect you codes GBM the about within whether adding Medicare going? lung? non-small you context, discussions actually these? utilize to existing that the pacing can cell just these And are or see you are codes new we'll also the of commercial

Frank Leonard

Yes.

cohort. -- in So I'd it's say at about our initial patient a what or far. is above expectations But say it's on because would can level that high I so that detail, payer talking interactions just early first, comment to comment the it's -- we're say too I -- but to XX so

They non-small and at, look that on same at, it's focus. unmet -- for payers a What stage in in good looking X. the thing the think, are. for good like physicians that the first foremost, So we're complete which the second a path is payers. a there's lung a cancer are I treatment need we cell It's feel really in with line

that's So start payers. always with a place good to

terms think years payers, build year it consistently lag will and of Medicare that, we're of with -- in said take to about that about In what the the the coverage we've still behind policies up payers what X just trajectory we then general would with commercial a is that's that X and us terms thinking. to

Ashley Cordova

a get in The up directly built only we and multi-indication is the of having is we leverage lung knowledge is GBM thing I the this other our platform that cancer would beauty experience add into the indication. to

a do, know to with So this have that is so in GBM. how process we same it the we're and doing successfully team executed

Jason Bednar

Sorry. coding? the Anything on

Frank Leonard

right. That's

Sorry, I didn't Jason. Thank answer really that part.

we expect -- code are expect codes, to continue the the do we On so. utilize the same to to same utilizing and

Operator

Our next line Fargo. Biegelsen question Wells with comes of Larry from the

Lei Huang

It's for calling in Lei Larry.

And you is benefit some looking in XXXX? collections really when about on from XXXX. revenue I more that a might bigger any was follow-up. in in those Street to other improvement thoughts far, had could rates think we call picture this you about that U.S. the first, see that we you is And you mentioned on in I contribute give Can XXXX? that, 'XX, far much anything have on to either as at or look improve be related in the at should it or if on Just and factors? missing how consensus, U.S. growth so times revenue there several revenue approval further how improved points revenue. any And any guess, color as

Christoph Brackmann

Yes. question. Christoph. This Thank is you for the

improved was So Growth the in U.S. in some on happy by XXXX rates $XX to driven this. million, total color approval from provide

a prior of windfall prior that that $XX Now one-off of the million had from year. so we sort was in periods,

prepared Gio And similar think of the question. impacts be a we do with there active rates, comment Going forward, remarks, room that's level And is growth. that expect exact said the the in at growth I believe And is we do going expect Optune approval not level patients forward. improvement. what in answers but we where to not line much for probably your we we it on not hence,

Ashley Cordova

think I in think, fairly is the do this well reflected we model. And

Lei Huang

later probably that, my the should for conservative XX. we Got it. you related later these think That's mentioned expected. the a mentioned year. process? And follow-up, and we for And Can both mentioned that -- there? you about than Should you that? PANOVA filings METIS to publication. being we you Are or Is you as this just XX expect as just anything little share far

Ashley Cordova

Yes. No, I think I'll there. start

process [indiscernible] to the short FDA. the expect pre-submission are the yes, We're process publication discussions in go of finalizing we in. active the having answer in So these submissions. and with you should is, they'll this drops, finalizing And year

in the have review filing, back right us device process We go these and interactive indications, to the provides both breakthrough with some designation that opportunity prior of formal on to forth now. and which questions we're

wouldn't than the we'll I and other process pre-sub as to through probably read is an now. in area we're that the process. kind go review possible, fast, that anything So we're it slow go of in move of and that timing fact this right part to soon interactive the into but right now, as filing

I unmet think specific advance why a important we ever many TAM, These milestones in TAM before, first what are multiple is have these in the to indications right? we about look Xx provide opportunity the a populations times where talk in And everybody, the and breakthrough opportunity. need is aggregate, the reflected both X have expansion you've ground where there data the of significant device for heard as we the designation. these us a that do GBM. it's the say at GBM And you in of though, both

is it to get for as real we have in are these the in us have markets to company. market you them opportunity So a transformative all as eager because are

Operator

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

Vijay Kumar

on of of to sort coverage lives and in you up covered should QX. the we XX XX 'XX, expect of side, that some And the a sequential active any what Should first have model patients? My step when end year one we long was percentage 'XX, by end prescriptions starting at et XX cetera? point of goalpost throughout look on that

Ashley Cordova

give numbers, Vijay. soon It's Yes. to specific probably too us for you

expect track a You'll certainly, is up. launch, right? expect -- growth it a course This is year. that you to grow would the should So to throughout see out. this you of is What the trend these say numbers we'll a

we what it's we're of it say you expect line And have as track right there expectation, yet. pleased, with we experience maybe, pace, an give you will patient same would to enough record and is in is the 'XX. terms know add anchor In substantial Frank, number, you right but We we'll drive those with on. as the And but we're in exit with on then time. to the soon 'XX payer, let revenue not to can focused anything

Frank Leonard

Vijay, the which us is Tumor of terms really seeing getting plus launch, the Fields really the we a for in. interactions question. we're patient coming patients to a on at just right we're and we're in color that what with pleased now we're is checkpoint thanks are the that's robust profiles I'd the know with because Treating add is is our inhibitors, market. what looking that Yes, immune physicians And having sign good

Vijay Kumar

Understood.

that in exiting of covered under And assumption? comments lives the of make substantial coverage a to some Would 'XX, 'XX. you at least safe sensible sort assume sorry, when revenues X/X be just are

Ashley Cordova

past, the that be will we're you give going come Fortunately, able in to Vijay, number. commercial an said is have not What first. to anchor we

XX% through the the 'XX, cancer about opportunity. that is to of system and commercial in expect We work

those you So are incur statements can't to.

Vijay Kumar

couple one Maybe China. a P&L revenues of a talk that sequentially. in declined Understood. on Then QX happening element? about timing China? questions, what's Was

Ashley Cordova

future are number timing And sales say the includes driven everybody on would royalty. royalty China amortization in with the of to the their I of both for that royalties purchases I'd of ending the say that and it's more and has product that remind roll-off let the -- me or other the amortization They and that, by largely do of amortization. agreement. purchases

Vijay Kumar

Sorry.

the base Or like China, should forward, fiscal for is that you -- So down? revenue should we just grow? actually, that when that XXXX be flattish look is or

Ashley Cordova

good would at so is say QX their I growth. buy kick a baseline to expectations then I that's answer then as the royalty, What will include look you doesn't the and that should about baseline, to

Vijay Kumar

on for maybe And cash Understood. then flow. one margins

the you for OpEx mentioned Is you gross should up? down you free flows step-up fiscal in line And revenues? Can if said to given down new gross think be implication step I revenues, 'XX that that? quantify should margins are in OpEx be is launches. stepping and think margin with OpEx, I above related, the of the what cash up. are

Christoph Brackmann

Vijay, take Christoph, can that. Yes. I

So in margin specifically the also was The gross the benefited claims. on from quarter was but gross rates we that margin benefit the XX%, maybe the year also for first. had quarter XX%, from year the -- was approval from increased and period prior

So for the full year, that was $XX million.

and you gross good sort margins a that's at would in I think If that of be mid-XXs, the margin, gross on you anchor. looking adjust

more in lighter headwinds One also rollout is from array, which expect is and Now the and the of said margin head on new flexible. what we sides. gross we XXXX, X thinner

So our it cost. patients, but this a a at higher at comes point significant to benefit

the the on in negotiate gross the margin. on a risk prepare at lung the for launch margin out that's this gross second headwind be or we impact headwind the coverage, is will And the roll of U.S., for side, margin. on we payer as So on there -- as and on gross go

then the So a would revert. we margin to gross it long lower effect, short, the we XXs. It's to temporary and get story to expect closer expect

G&A expect are on very mode, on launch expenses we as particularly on And -- would side. it's moderate side, incremental side, expense to the we the in flattish. On marketing some the sales Yes. and

Ashley Cordova

and we that to reiterate feel confident we cash through of that the financial we periods. I need But that just would growth have the these strength get kind balance

Operator

of Our line the comes Fye next question with from Jessica JPMorgan.

Na Sun

factors Could talk that a patients active of option reported you do the on how Jess. also [indiscernible] end the active hindering what's what patients in lung for is XXXX? about you compare you of cancer to number here? current patient And comment at on or And This for are driving adoption maybe it the on think XX U.S.? does

Frank Leonard

Yes.

So comment we think intra-quarter. first progress don't I on off,

an I -- week can or I So are terms the XX what interact But of from concept the and on driving with I rate, able that in year-end. the adoption treat I to story comment Novocure can't the who is of in anecdote last just physicians additions terms multi-indication field. X what patients now think on we tumor of different at a physicians highlighted commenting for was

in trials and order with patients treated So trials patients patients they're as being now they medical these [indiscernible] glioblastoma in for Both well physicians or as for then indications. GBM other And oncology prescription have treated us clinical both long-term -- cancer had success with lung for on participated stories. PANOVA for X

so think and really of multi-indication seeing a company, we're benefits the being for I that's us. exciting And early

Na Sun

squeeze the drivers Great. And in more. do can one be for would on maybe comment that about XXXX? growth revenue I really if think in Maybe How a you helpful.

Ashley Cordova

on will And demand come in layer ahead then launches. unlock generation there which say those that would GBM principally revenue will from a we in is is 'XX, year, we've investments as a indication. contribution the I look our that R&D, Yes. come reminded funds foundation which cancer in material PANOVA very we'll here. of the the be solid in Again, going from 'XX that will real demand-generation is kind really unlock lung XXXX, growth [indiscernible] but everybody Medicine with to 'XX

Operator

next with comes Emily from Bodnar the question Our Wainwright. H.C. of line

Emily Bodnar

the on lung the launch. X first I guess

docetaxel experienced who Or prescriptions, they like other? the patient one PD-X-naive inhibitors? is patients? patients, have mostly and you initial patients are or And mainly the oversee then or in people -- taking it seeing are PD-X With

Frank Leonard

Yes.

the question. This thank you is think Frank. So -- for I

We we checkpoint immune seeing and comment to is are receive treated are concurrent patients -- what tumor docetaxel on both say seeing I'll that field. inhibitors with

So we're seeing both populations.

also patients. retreatment are overall, mix in seeing good describe a continuation front We the have with as I or of seeing, treatment patients for of ICI had would line. And who what demographic ICI we're

all right go at than metrics now those in I So that to direction. wouldn't much further we key that that look other balanced the right than say

Operator

back call this Doyle to closing over to at remarks. I'm like currently the time. showing I'd Bill no And further questions for hand

William Doyle

as work So thanking I'd I'd colleagues dedication continued patients. like do, first you to like for interest by in to for Novocure conclude our their to Novocure. all our of thank their I And this and always your hard call,

I since in earnings true company. marks call true believe a in moment XXXX, history actually our my pivot, is a and IPO it This XXth of this

for was a it company continue together, some to I as should I the think something putting of extend patients mission be this grow cancer As survival cancer. as our GBM foundation of aggressive reflecting that in from the and on to all as we next move editing is with and their were we pursue proud global to we excited chapter, it our forms of multi-indication help and script, us most of

you. thank So

Operator

participation. for Thank conference This call. concludes today's your you

disconnect. may You now

NovoCure Limited (NVCR) 27 Feb 252024 Q4 Earnings call transcript