EUR/USD likely to find a peak near 1.25: UBS
Leonard Frank X, Executive Vice President and President of Novocure Oncology, recently sold 2,527 shares of NovoCure Ltd (NASDAQ:NVCR). The shares were sold at a weighted average price of $18.5363, amounting to a total transaction value of $46,841. The transaction comes as NVCR shares trade near $18.19, down over 12% in the past week. According to InvestingPro analysis, the stock’s RSI indicates oversold conditions. This sale was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units, as mandated by the company’s equity incentive plans. Following this transaction, Leonard Frank X holds 143,673 shares directly. While NovoCure maintains a strong balance sheet with more cash than debt, InvestingPro data shows analysts don’t expect profitability this year. For deeper insights into insider trading patterns and comprehensive financial analysis, access the detailed Pro Research Report available on InvestingPro.
In other recent news, Novocure reported fourth-quarter earnings that did not meet analyst expectations, with a loss of $0.61 per share compared to the estimated loss of $0.36 per share. However, the company surpassed revenue estimates, reporting $161.26 million for the quarter against a consensus estimate of $153.04 million, marking a 21% year-over-year increase. For the full year 2024, Novocure’s total net revenues reached $605.2 million, reflecting a 19% increase from the previous year, attributed to the launch of Optune Gio in France and improved U.S. approval rates. The company also noted the FDA approval of Optune Lua for metastatic non-small cell lung cancer, with its commercial rollout underway in the U.S. Additionally, Novocure’s Phase 3 PANOVA-3 trial showed a significant improvement in overall survival for patients with unresectable, locally advanced pancreatic cancer. As of the end of 2024, Novocure reported having 4,126 active patients on its TTFields therapy globally. The company concluded the year with $959.9 million in cash, cash equivalents, and short-term investments. Looking forward, Novocure expects its glioblastoma business to grow at a low mid-single-digit rate in 2025, with gross margins potentially impacted by product enhancements.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.