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In a recent transaction reported to the Securities and Exchange Commission, Uri Weinberg, the Chief Innovation Officer at NovoCure Ltd (NASDAQ:NVCR), sold 268 ordinary shares of the company. The shares were sold on March 3, 2025, at a weighted average price of $18.9217, totaling approximately $5,071. The stock, currently trading at $18.19, has experienced significant pressure, declining over 12% in the past week. According to InvestingPro analysis, the company’s RSI indicates oversold conditions.
The transaction was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units, as mandated by NovoCure’s equity incentive plans. Following this sale, Weinberg holds 166,243 shares directly. The sale was executed in multiple trades, with prices ranging from $18.8304 to $18.94 per share. With a market capitalization of $2 billion and trading near its Fair Value according to InvestingPro analysis, NovoCure maintains a strong gross profit margin of 77.5%. Discover 8 additional key insights and a comprehensive Pro Research Report available exclusively on InvestingPro.
In other recent news, Novocure reported its fourth-quarter earnings, revealing a loss of $0.61 per share, which fell short of analyst expectations by $0.25. Despite this earnings miss, the company exceeded revenue estimates, reporting $161.26 million for the quarter, surpassing the consensus of $153.04 million and marking a 21% year-over-year increase. For the full year 2024, Novocure’s net revenues rose 19% to $605.2 million, attributed largely to the successful launch of Optune Gio for glioblastoma in France and improved approval rates in the U.S. The company also announced the FDA approval of Optune Lua for metastatic non-small cell lung cancer, with a commercial rollout underway in the U.S. Furthermore, the Phase 3 PANOVA-3 trial met its primary endpoint, showing improved overall survival for patients with unresectable pancreatic cancer. As of the end of 2024, Novocure had 4,126 active patients on its TTFields therapy globally and reported $959.9 million in cash, cash equivalents, and short-term investments. CEO Ashley Cordova emphasized that 2025 is expected to be pivotal for Novocure, with advancements in multiple indications. Looking forward, the company anticipates moderate growth in its glioblastoma business and expects gross margins to be influenced by upcoming product enhancements and launches.
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