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Leonard Frank X, Executive Vice President and President of Novocure Oncology, has sold shares of NovoCure Ltd (NASDAQ:NVCR) in a series of transactions. According to a recent SEC filing, Frank sold a total of 15,036 ordinary shares over two days, with transactions occurring on February 27 and 28, 2025. The timing of these sales comes as InvestingPro data shows the stock has declined over 36% year-to-date, with the company’s market capitalization currently standing at $2 billion. The sales were executed at prices ranging from $18.2843 to $20.549 per share, amounting to a total value of $296,256.
Following these transactions, Frank retains ownership of 146,200 shares in the company. The sales were conducted in multiple trades, with the weighted average sale prices reflecting the range of prices achieved in the market.
In other recent news, Novocure reported its fourth-quarter earnings, which fell short of analyst expectations, with a loss of $0.61 per share compared to the estimated loss of $0.36. Despite this, the company exceeded revenue estimates, reporting $161.26 million for the quarter, surpassing the consensus estimate of $153.04 million and marking a 21% increase year-over-year. For the full year 2024, Novocure’s total net revenues reached $605.2 million, reflecting a 19% increase from the previous year. This growth was largely attributed to the successful launch of Optune Gio for glioblastoma in France and improved approval rates in the U.S. Additionally, the company received FDA approval for Optune Lua for treating metastatic non-small cell lung cancer, with its commercial rollout already underway in the U.S. Novocure’s Phase 3 PANOVA-3 trial also met its primary endpoint, showing a significant improvement in overall survival for patients with unresectable, locally advanced pancreatic cancer. As of the end of 2024, Novocure reported 4,126 active patients on its Tumor Treating Fields therapy globally and held $959.9 million in cash, cash equivalents, and short-term investments. Looking forward, the company expects its glioblastoma business to grow at a low mid-single-digit rate in 2025 as it reaches maturity.
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