NovoCure Ltd

Novocure Limited (NASDAQ: NVCR) is a global oncology company headquartered in Switzerland with operating centers worldwide. The company develops and commercializes Tumor Treating Fields (TTFields) therapy, a proprietary platform technology that uses electric fields to exert physical forces to kill cancer cells. TTFields are delivered through portable medical devices that generate electric fields in the 100 to 500 kHz frequency range, enabling the fields to penetrate cancer cell membranes while leaving healthy cells mostly unaffected. The therapy works by interfering with cell division processes, disrupting the formation of the mitotic spindle and preventing cancer cells from dividing.

Novocure markets three commercial TTFields therapy devices: Optune Gio for glioblastoma (GBM), Optune Lua for non-small cell lung cancer (NSCLC) and malignant pleural mesothelioma (MPM), and Optune Pax for pancreatic cancer. Optune Gio is approved by the FDA and has regulatory approval in multiple countries including the European Union, United Kingdom, Japan, and Canada. Optune Lua received FDA approval for NSCLC in 2024 and for MPM via the Humanitarian Device Exemption pathway. Optune Pax received FDA approval in 2026 for locally advanced pancreatic cancer. The company generates the majority of its revenues from Optune Gio use in the United States, Germany, France, and Japan.

The company operates a direct-to-patient distribution model in most markets, employing 217 sales force colleagues globally as of December 31, 2025. Novocure has established coverage policies with both public and private payers for Optune Gio in multiple countries and is actively pursuing reimbursement for its newer products. The company maintains a robust intellectual property portfolio consisting of hundreds of issued patents worldwide with expected expiration dates between 2025 and 2041, along with several hundred additional patent applications pending globally. Novocure also holds a strategic collaboration with Zai Lab for commercialization rights in Greater China. The company outsources all manufacturing to qualified third-party partners while maintaining safety stocks of critical components to protect against supply chain disruptions.