NovoCure (NVCR) investor relations material

Strategic focus and leadership direction

• New CEO emphasizes commercial viability and disciplined clinical development, shifting focus to indications with strong patient and physician demand.

• Mission remains to extend cancer patient survival using Tumor Treating Fields, a device-based therapy with broad applicability and minimal toxicity.

• Company is prioritizing indications where physical therapy can overcome biological limitations, such as low drug bioavailability tumors.

• Emphasis on targeting motivated, healthier patients who can comply with device protocols for better outcomes.

• Resources have been reallocated from underperforming areas (lung) to support promising launches (pancreatic cancer).

Clinical development and pipeline updates

• TRIDENT phase 3 trial in newly diagnosed glioblastoma may expand eligible patient population by 25% and extend therapy duration if successful.

• PANOVA-4 phase 2 trial in metastatic pancreatic cancer will soon provide headline data, with further pipeline updates expected later in the year.

• Ongoing trials explore Tumor Treating Fields in combination with immune checkpoint inhibitors and KRAS inhibitors, aiming to enhance efficacy in resistant tumors.

• Clinical focus remains on tumors with low drug bioavailability and those where immune response can be upregulated.

Commercial performance and growth outlook

• Glioblastoma market penetration is at 40%, with over 4,400 active patients and $645 million in 2025 revenue; growth expected in low- to mid-single digits.

• Pancreatic cancer launch targets a TAM of 15,000 patients annually, about 50% larger than GBM, with strong early demand from patients and physicians.

• Multi-indication field force and digital tools are leveraged to streamline adoption and support across indications.

• Revenue guidance for 2024 is $675–$705 million, primarily from GBM, with $15–$25 million expected from new indications.

• Japan is a key growth driver for lung cancer, while US lung dynamics are stable; future investments will be disciplined and data-driven.