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Novocure (NVCR) overview
updated February 2017
© Novocure 2017 2
forward-looking statements This presentation contains certain forward-looking statements with respect to the business of Novocure and certain of its plans and objectives, including with
respect to the development and commercialization of its lead product candidate, Optune, for a number of oncology indications. These forward-looking statements
can be identified in this presentation by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words “expect”,
“intend”, “anticipate”, “plan”, “may”, “should”, “would”, “could” or other words of similar meaning. These statements are based on assumptions and assessments made
by Novocure in light of industry experience and perception of historical trends, current conditions, expected future developments and other appropriate factors. By
their nature, forward-looking statements involve risk and uncertainty, and Novocure's performance and financial results could differ materially from those expressed
or implied in these forward-looking statements due to general financial, economic, regulatory and political conditions as well as more specific risks and
uncertainties facing Novocure such as those set forth in its Annual Report on Form 10-K filed on February 23, 2017, or in subsequent quarterly filings with the U.S.
Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those described in this presentation. Novocure assumes no obligation to update or correct the information contained in this
presentation, whether as a result of new information, future events or otherwise, except to the extent legally required.
The statements contained in this presentation are made as at the date of this presentation, unless some other time is specified in relation to them, and service of
this presentation shall not give rise to any implication that there has been no change in the facts set out in this presentation since such date. Nothing contained in
this presentation shall be deemed to be a forecast, projection or estimate of the future financial performance of Novocure, except where expressly stated.
As of the date of this presentation, Optune is only FDA-approved for glioblastoma, or GBM, and its approval for other indications is not certain. Novocure can
provide no assurances regarding market acceptance of Optune or its successful commercialization, and can provide no assurances regarding the company’s results
of operations or financial condition in the future. This presentation is for informational purposes only and may not be relied upon in connection with the purchase
or sale of any security.
© Novocure 2017
contents
3
company overview
mechanism of action
EF-14 clinical data
commercial execution
clinical development
financial highlights
company overview
© Novocure 2017
PATIENT-FORWARD MISSION
about novocure
Global Organization
Proven Lead Product
Rich Clinical Pipeline
5
• Headquartered in Jersey • Four currently active
commercial markets (United States, Germany, Switzerland and Japan)
• Research facility in Israel • Ownership of IP and sole
distribution rights of Tumor Treating Fields
• 450+ employees globally
• Approved in the U.S., EMEA and Japan for the treatment of glioblastoma (GBM)
• Supported by successful EF-14 phase 3 pivotal trial
• Broadly applicable mechanism of action across multiple solid tumor types
• Recruiting for phase 3 pivotal trials in brain metastases and non-small cell lung cancer
• Completed or ongoing phase 2 pilot trials in: • Pancreatic cancer • Ovarian cancer • Mesothelioma
© Novocure 2017 6
three strategic objectives
Drive commercial adoption of Optune
Focus on improving operating leverage
Advance the clinical pipeline
© Novocure 2017
2016: a year of significant achievement
7
DRIVE COMMERCIAL ADOPTION OF OPTUNE
Consistently delivered active patient and revenue growth
Substantial improvements in coverage and contracting for U.S. lives
Presented long-term analysis of EF-14 data
Received regulatory approval for newly diagnosed GBM in Japan
Completed global launch of the second generation Optune System
ADVANCE THE CLINICAL PIPELINE
First patient enrolled in phase 3 pivotal trial in brain metastases Completed phase 2 pilot trials in pancreatic and ovarian cancer Presented interim results from phase 2 pilot trial in mesothelioma
© Novocure 2017
2017 anticipated milestones
8
DRIVE COMMERCIAL ADOPTION OF OPTUNE
• Continue to deliver active patient and revenue growth
• Switzerland reimbursement
• Japan reimbursement
ADVANCE THE CLINICAL PIPELINE
First patient enrollment in LUNAR phase 3 pivotal trial in NSCLC
• Presentation and publication of phase 2 pilot trial results for pancreatic
and ovarian cancer
• Final patient enrollment in STELLAR phase 2 pilot trial in mesothelioma
• First patient enrollment in phase 3 pivotal trial in pancreatic cancer
mechanism of action
© Novocure 2017 10
A COMPLETELY DIFFERENT APPROACH TO ANTI-CANCER THERAPY
tumor treating fields
SURGERY RADIATION PHARMACOLOGICAL TREATMENTS
TUMOR TREATING FIELDS (TTFIELDS)
• Most frequently employed therapy
• Reduces size of a tumor prior to initiation of additional therapies
• Kills cells when delivered at high doses
• Injures healthy tissues with numerous potential toxic side effects
• Includes chemotherapy, targeted therapies and immuno-oncology
• Limited by potential side effects
• Resistance can develop over time
• Low-intensity, alternating electric fields
• Mild side effect profile • No known cumulative
toxicity • Can be used in
combination with other treatment modalities
USED TO TREAT SOLID TUMORS FOR OVER 100 YEARS
© Novocure 2017 11
15+ years of preclinical research • Deep understanding of the underlying mechanism of TTFields
• Continuing investment in mechanism of action substantiation and applications
© Novocure 2017
Earth
ELECTRIC FIELDS
exert force on charges & polarized molecules
Charged Plates
GRAVITATIONAL FIELDS MAGNETIC FIELDS
Magnet
exert force on masses exert force on iron & other magnets
electric fields exert forces on electrically polarized molecules
12
uniform field
© Novocure 2017
ELECTRIC FIELDS
exert force on charges & polarized molecules
non-uniform field
dielectrophoresis
GRAVITATIONAL FIELDS MAGNETIC FIELDS
Earth
exert force on masses exert force on iron & other magnets
Charged Plates Magnet Earth
electric fields exert forces on electrically polarized molecules
13
© Novocure 2017
frequency of electric fields determines their biological effect
M E D I C A L E X A M P L E S
Low Frequencies less than 1 kHz
Depolarization of excitable cells (eg, neurons, cardiac
myocytes, skeletal muscle cells)
cardiac defibrillator/pacemaker electromyography
Intermediate Frequencies 100 to 500 kHz
Inhibition of cell proliferation Increased cell death
Tumor Treating Fields
High Frequencies greater than 1,000 kHz
Tissue heating
diathermy radiofrequency ablation
14
© Novocure 2017
TTFields impact metaphase NORMAL METAPHASE EFFECT OF TTFIELDS
ON METAPHASE
tubulin subunits have a high dipole moment
uniform electric field
mitotic spindle
tubulin subunits align properly,
forming a normal mitotic spindle
tubulin subunits align with TTFields
misaligned tubulin disrupts mitotic spindle
15
© Novocure 2017
TTFields impact telophase NORMAL TELOPHASE
cleavage furrow
dielectrophoresis movement of polar cellular
components due to electric field non-uniform electric field
EFFECT OF TTFIELDS ON TELOPHASE
16
© Novocure 2017
TTFields are frequency-tuned to cell size to maximize effects on mitosis
17
Normal Intestine
~50 kHz
Pancreatic Cancer
150 kHz
NSCLC
150 kHz
Ovarian Cancer
200 kHz
GBM
200 kHz
EFFECTS ON CELLS ARE FREQUENCY SPECIFIC AND INVERSELY RELATED TO CELL SIZE
© Novocure 2017 18
• Battery or wall-powered electric field generator
• Single-use transducer arrays replaced 2–3
times/week
• Should be used at least 18 hours/day
• Mild side-effect profile, no known systemic
toxicity
TTFields are delivered via a non-invasive, portable medical device
© Novocure 2017 19
broad applicability to solid tumors
EF-14 clinical data
© Novocure 2017 21
COMBINATION THERAPY FOR NEWLY DIAGNOSED GBM
EF-14 phase 3 pivotal trial initiated in 2009 A prospective, multicenter trial of TTFields together with temozolomide compared to standard-of-care
temozolomide alone in patients with newly diagnosed GBM
• 83 centers; 695 newly diagnosed GBM patients randomized 2:1 (TTFields plus TMZ vs TMZ alone)
• Treated until second progression or 24 months
• Pre-specified interim analysis 18 months after enrollment of the 315th patient
• Endpoints:
• Primary endpoint — progression-free survival (PFS) (intent to treat)
• Secondary endpoint — overall survival (OS) (as treated)
surgery/ biopsy RT (45–70 Gy) +
TMZ
enrollment window
(4–7 weeks after RT + TMZ)
ran
do
miz
atio
n 2
:1
TTFields + TMZ (6 cycles)
MRI q2m until progression
TTFields + second line chemo
TMZ (6 cycles) MRI q2m until progression
second line chemo
Novocure, Ltd. Effect of NovoTTF-100A Together With Temozolomide in Newly Diagnosed Glioblastoma Multiforme (GBM) In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2016 Dec]. Available from: https://clinicaltrials.gov/ct2/show/NCT00916409. NLM Identifier: NCT00916409
© Novocure 2017
EF-14 LONG-TERM ANALYSIS: INTENT-TO-TREAT POPULATION
EF-14 progression free survival OPTUNE + TMZ
(n=466)1,2 TMZ ALONE
(n=229) 1,2 Median PFS from randomization, mo 6.7 4.0
95% CI, mo 6.1-8.1 3.8-4.3
Stratified log-rank p<0.0001
HR2 (95% CI) 0.63 (0.52-0.76)
Median PFS from diagnosis, mo
11.2 7.8
*Both interim and long-term analyses are protocol prespecified.1,2
TMZ, temozolomide; ITT, intent-to-treat; PFS, progression-free survival; CI confidence interval; HR, hazard ratio. 1. Stupp R, et al; on behalf of EF-14 trial investigators. Slides presented at: SNO 21st Annual
Meeting; November 17-20, 2016; Scottsdale, AZ. 2. Stupp R, et al; on behalf of EF-14 trial investigators. SNO Abstract LTBK-01. Neuro-
Oncology. 2016. In press.
22
© Novocure 2017 23
EF-14 LONG-TERM ANALYSIS: INTENT-TO-TREAT POPULATION
EF-14 overall survival OPTUNE + TMZ
(n=466) 1,2 TMZ ALONE
(n=229) 1,2 Median OS from randomization, mo 20.8 16.0
95% CI, mo 19.0-22.6 13.9-18.2
Stratified log-rank p<0.0006
HR (95% CI) 0.65 (0.54-0.79)
Median OS from diagnosis, mo
24.5 19.8
*Both interim and long-term analyses are protocol prespecified.1,2
TMZ, temozolomide; ITT, intent-to-treat; OS, overall survival; CI, confidence interval; HR, hazard ratio. 1. Stupp R, et al; on behalf of EF-14 trial investigators. Slides presented at: SNO 21st
Annual Meeting; November 17-20, 2016; Scottsdale, AZ. 2. Stupp R, et al; on behalf of EF-14 trial investigators. SNO Abstract LTBK-01. Neuro-
Oncology. 2016. In press. 3. Novocure Data on File OPT-118.
© Novocure 2017 24
EF-14 LONG-TERM ANALYSIS
EF-14 subgroup analysis SUBGROUP NO. OF PATIENTS (%) HAZARD RATIO
MEDIAN SURVIVAL (MONTHS) OPTUNE + TMZ1 TMZ ALONE1
Overall 695 (100) 20.8 16 MGMT (central) Unmethylated 303 (44) 17.3 13.9 Methylated 213 (31) 29.7 21.2 Resection Biopsy 89 (13) 14.7 11.6 Partial 234 (34) 21.4 15.1 Gross total 372 (53) 22.6 18.5 Age <50 y 194 (28) 24.4 19.9 50+ y 501 (72) 19.8 15.3 KPS 90-100 457 (67) 22.7 17.8 <80 228 (33) 14.7 11 Sex Female 222 (32) 24.4 18.5 Male 473 (68) 19 15.5
OPTUNE + TMZ BETTER TMZ ALONE BETTER
0 0.25 0.5 0.75 1.25 1.5 1.75 2.00 1 TMZ, temozolomide; MGMT, O6-methylguanine-DNA methyltransferase; KPS, Karnofsky Performance Score. 1. Stupp R, et al; on behalf of EF-14 trial investigators. Slides presented at: SNO 21st Annual
Meeting; November 17-20, 2016; Scottsdale, AZ.
© Novocure 2017
EF-14 LONG-TERM ANALYSIS
70% IMPROVEMENT IN SURVIVAL WITH TTFIELDS + TMZ (17%) VERSUS TMZ ALONE (10%) AT 4 YEARS (P=0.028)1,2
EF-14 long-term survival rates
TMZ, temozolomide; ITT, intent-to-treat. 1. Stupp R, et al; on behalf of EF-14 trial investigators. [SNO Abstract LTBK-01]. Neuro-Oncology. 2016. In press. 2. Stupp R, et al; on behalf of EF-14 trial investigators. Slides presented at: SNO 21st Annual Meeting; November 17-20, 2016; Scottsdale, AZ.
25
commercial execution
© Novocure 2017 27
ADULT PATIENTS WITH RECURRENT AND NEWLY DIAGNOSED GBM
global commercial presence
United States • 835 active patients • 490 certified centers • 49 sales force
colleagues
Germany, Switzerland & other EMEA markets • 256 active patients • 155 certified centers • 10 sales force
colleagues Japan • No active patients • 131 certified centers • 2 sales force
colleagues
global active markets as of December 31, 2016
© Novocure 2017 28
direct to patient distribution model Physician sends prescription order to Novocure
Physician or Novocure uses NovoTAL System to create array placement map
Novocure delivers Optune and trains patient/family
Novocure provides 24/7 tech support and supplies transducer arrays
Novocure bills third-party payer and patient1 for each month of therapy
Physician sees patient for regular compliance monitoring and follow-up appointments
1 Subject to patient assistance programs
© Novocure 2017 29
q4 2016 operating statistics Q4 2016 Q4 2015 % GROWTH FY 2016 FY 2015 % GROWTH
Prescriptions 706 557 27% 2,808 1,777 58%
United States 544 499 9% 2,344 1,607 46%
Germany, Switzerland and other EMEA Markets 162 56 189% 463 167 177%
Japan - 2 - 1 3 N/A
Active patients at period end 1,091 605 80%
United States 835 529 58%
Germany, Switzerland and other EMEA Markets 256 74 246%
Japan - 2 N/A
• Growth driven primarily by commercial activities in the U.S. after the October 2015 FDA approval of Optune for the treatment of newly
diagnosed GBM, increased commercial activities in Germany, and enhanced awareness of Optune following the December 2015
publication of EF-14 phase 3 pivotal trial results in JAMA™
• Year-over-year increase in active patients was driven both by prescription growth and by an increase in the percentage of newly
diagnosed GBM patients who started Optune in prior periods
© Novocure 2017
0
200
400
600
800
1000
1200
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016
225
372 425
469
605
797 891
985
1,091
30
active patient growth global active patients at period end
8 CONSECUTIVE QUARTERS OF ACTIVE PATIENT GROWTH SINCE PRESENTATION OF EF-14 DATA
U.S. active patients EMEA and Japan active patients
© Novocure 2017 31
expanding market access
31
• As of January 1, 2017, payers administering plans for more than 180
million U.S. lives had issued positive coverage policies
• As of January 1, 2017, contracts negotiated to establish Optune as an
in-network benefit for more than 130 million U.S. lives
• Appealing Medicare fee-for-service denials, impacting 20-25% of U.S.
active patients
• Improvement in case-by-case reimbursement in Germany; pursuing
defined reimbursement
• Pursuing broad reimbursement in Switzerland and Japan
>180 MILLION COVERED LIVES IN THE U.S.
>130 MILLION CONTRACTED LIVES IN THE U.S.
© Novocure 2017 32
revenue growth global net revenue by quarter
151% REVENUE GROWTH 2016 VERSUS 2015
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016
$3,801 $5,208
$6,543
$8,953
$12,383 $13,053
$17,919
$21,674
$30,242
U.S. active patients EMEA and Japan active patients
clinical development
Actor Portrayal
© Novocure 2017 34
ongoing clinical trials
PRE-CLINICAL
PHASE 2 PILOT
PHASE 3 PIVOTAL EXPECTED NEXT MILESTONE
INDICATIONS
Brain Metastases METIS trial last patient in 2019
NSCLC LUNAR trial last patient in 2019
Pancreatic Cancer phase three pivotal trial first patient in 2017
Ovarian Cancer finalization of phase three pivotal trial design
Mesothelioma STELLAR trial last patient in 2017
© Novocure 2017 35
BRAIN METASTASES FROM NON-SMALL CELL LUNG CANCER
METIS phase 3 pivotal trial initiated in 2016 A prospective, randomized controlled, multicenter trial testing efficacy, safety and neurocognitive outcomes of TTFields at 150 kHz following stereotactic radiosurgery in advanced non-small cell lung cancer patients with 1-10 brain metastases
• 270 patients internationally, randomized 1:1 (TTFields vs supportive care) • Last patient enrollment expected in 2019, twelve month follow-up after final patient enrollment • Endpoints:
• Primary endpoint — time to first cerebral progression • Secondary endpoints include neurocognitive failure, overall survival, radiological response rate
Novocure, Ltd. Effect of TTFields (150 kHz) in Non-small Cell Lung Cancer (NSCLC) Patients With 1-10 Brain Metastases Following Radiosurgery (METIS) In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2017Jan]. Available from: https://clinicaltrials.gov/ct2/show/NCT02831959. NLM Identifier: NCT02831959
© Novocure 2017 36
SECOND LINE TREATMENT FOR ADVANCED NON-SMALL CELL LUNG CANCER
phase 2 pilot EF-15 trial A prospective, open label, single-arm, non-randomized, multicenter study of TTFields at 150 kHz to estimate efficacy and determine safety together with pemetrexed in pretreated patients with locally advanced non-small cell lung cancer versus historical controls
• 42 patients in Switzerland with locally advanced and/or metastatic non-small cell lung cancer • Last patient enrolled May 2011 with six month follow-up, data published in Lung Cancer in 2013 • Primary endpoint – severity and frequency of adverse events
Novocure, Ltd. NovoTTF-100L in Combination With Pemetrexed (Alimta®) for Advanced Non-small Cell Lung Cancer In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2017Jan]. Available from: https://clinicaltrials.gov/ct2/show/NCT00749346. NLM Identifier: NCT00749346 1. Pless M, et al. Lung Cancer. 2013;81(3):445-50. doi: 10.1016/j.lungcan.2013.06.025 2. Hanna N, Shepherd FA, Fossella FV, Pereira JR, De Marinis F, von Pawel J, et al. J Clin Oncol 2004;22(9):1589–97. doi: 10.1200/JCO.2004.08.163
EFFICACY ENDPOINTS
TTFIELDS WITH PEMETREXED2
PEMETREXED-ALONE HISTORICAL RESULTS3
Median in-field PFS 6.5 months n/a
Median PFS 5 months 2.9 months
Median OS 13.8 months 8.3 months
One-year survival rate 57% 29.7%
© Novocure 2017 37
ADVANCED PANCREATIC CANCER
phase 2 pilot PANOVA trial A prospective, open label, single-arm, non-randomized, multicenter study testing feasibility, safety and preliminary efficacy of TTFields at 150 kHz together with gemcitabine or gemcitabine plus nab-paclitaxel in patients with advanced pancreatic cancer versus historical controls
• 40 patients in Europe with locally advanced or metastatic pancreatic cancer • First cohort (n=20) of TTFields at 150 kHz with gemcitabine • Second cohort (n=20) of TTFields at 150 kHz with gemcitabine and nab-paclitaxel
• Last patient enrolled May 2016 with six month follow-up • Endpoints:
• Primary endpoint – severity and frequency of adverse events, as well as feasibility based on compliance with TTFields therapy
• Secondary endpoints include progression free survival, overall survival, overall response rate
Novocure, Ltd. Safety Feasibility and Effect of TTFields (150 kHz) Concomitant With Gemcitabine or Concomitant With Gemcitabine Plus Nab-paclitaxel for Front-line Therapy of Advanced Pancreatic Adenocarcinoma (PANOVA) In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2017 Jan]. Available from: https://clinicaltrials.gov/ct2/show/NCT01971281. NLM Identifier: NCT01971281
© Novocure 2017 38
ADVANCED PANCREATIC CANCER
phase 2 pilot PANOVA trial
EFFICACY ENDPOINTS
FIRST COHORT1
TTFIELDS WITH GEMCITABINE
GEMCITABINE-ALONE
HISTORICAL RESULTS2
SECOND COHORT
TTFIELDS WITH NAB-PACLITAXEL
PLUS GEMCITABINE
NAB-PACLITAXEL
PLUS GEMCITABINE HISTORICAL
RESULTS2
Median PFS 8.3 months 3.7 months 12.7 months 5.5 months
Median OS 14.9 months 6.7 months Not yet reached 8.5 months
One-year survival rate 55% 22% 72% 35%
Partial response rate 30% 7% 40% 23%
Stable disease 30% 28% 47% 27%
1. First cohort analysis presented at ASCO GI in January 2016, with first cohort subgroup analysis presented at ASCO in June 2016. 2. Von Hoff D., et al. N Engl J Med 2013; 369:1691-1703 October 31, 2013. doi: 10.1056/NEJMoa1304369
© Novocure 2017 39
RECURRENT OVARIAN CANCER
phase 2 pilot INNOVATE trial A prospective, open label, single-arm, non-randomized, multicenter study testing feasibility, safety, toxicity and preliminary efficacy of TTFields at 200 kHz together with weekly paclitaxel in patients with recurrent ovarian cancer versus historical controls
• 30 patients in Europe with recurrent ovarian cancer • Last patient enrolled May 2016 with six month follow-up • Primary endpoint – severity and frequency of adverse events
Novocure, Ltd. Safety, Feasibility and Effect of TTFields (200 kHz) Concomitant With Weekly Paclitaxel in Recurrent Ovarian Carcinoma (INNOVATE) In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2017 Jan]. Available from: https://clinicaltrials.gov/ct2/show/NCT02244502. NLM Identifier: NCT02244502 1. Pujade-Laurain E., et al. J of Clin Onc. 2015; 33(32): 3836-3838. doi: 10.1200/jco.2015.63.1408 * Median PFS reflects the weekly paclitaxel subgroup; Median PFS for all chemotherapies was 3.4 months
EFFICACY ENDPOINTS
TTFIELDS WITH PACLITAXEL
PACLITAXEL-ALONE HISTORICAL RESULTS1
Median PFS 8.9 months 3.9 months*
Median OS Not yet reached 13.2 months
One-year survival rate 61%
© Novocure 2017 40
FIRST LINE TREATMENT OF MALIGNANT PLEURAL MESOTHELIOMA
phase 2 pilot STELLAR trial A prospective, open label, single-arm, non-randomized, multicenter study testing safety and preliminary efficacy of TTFields at 150 kHz together with pemetrexed and cisplatin or carboplatin in patients with previously untreated malignant pleural mesothelioma versus historical controls
• 80 patients in Europe with unresectable, previously untreated malignant mesothelioma • Actively recruiting patients since February 2015, interim data presented at IASLC in December 2016 • Primary endpoint – overall survival (OS)
Novocure, Ltd. Safety and Efficacy of TTFields (150 kHz) Concomitant With Pemetrexed and Cisplatin or Carboplatin in Malignant Pleural Mesothelioma (STELLAR) In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2017Jan]. Available from: https://clinicaltrials.gov/ct2/show/NCT02397928. NLM Identifier: NCT02397928 1. Cerasoli, G.L. International Association for the Study of Lung Cancer. OA22.01 – STELLAR – Interim Results of a Phase 2 Trial of TTFields with Chemotherapy for First Line Treatment of Malignant Mesothelioma. Oral Session: Novel
Trials and Biomarkers in Malignant Pleural Mesothelioma. Wednesday, Dec. 7, 2016, 2:20 p.m. CET 2. Vogelzang NJ, Rusthoven JJ, Symanowski J, et al. J Clin Oncol. 2003;21:2636–2644. doi: 10.1200/JCO.2003.11.136
EFFICACY ENDPOINTS
TTFIELDS WITH PEMETREXED AND
CISPLATIN OR CARBOPLATIN1
PEMETREXED AND CISPLATIN-ALONE
HISTORICAL RESULTS2
Median PFS 7.3 months 5.7 months
Median OS Not yet reached 12.1 months
One-year survival rate 79.7% 50.3%
© Novocure 2017 41
FIRST LINE TREATMENT OF MALIGNANT PLEURAL MESOTHELIOMA
phase 2 pilot STELLAR trial interim results PROGRESSION-FREE SURVIVAL (N=42) OVERALL SURVIVAL (N=42)
Cerasoli, G.L. International Association for the Study of Lung Cancer. OA22.01 – STELLAR – Interim Results of a Phase 2 Trial of TTFields with Chemotherapy for First Line Treatment of Malignant Mesothelioma. Oral Session: Novel Trials and Biomarkers in Malignant Pleural Mesothelioma. Wednesday, Dec. 7, 2016, 2:20 p.m. CET
financial highlights
© Novocure 2017
transition to accrual-based revenue recognition
43
• Increase in accrual-based revenue primarily due to increase in positive coverage polices and negotiated
contracts with health plans in the U.S.
• Gross billings reflect total charges for active patients on therapy without any deductions or adjustments for payer
discounts, patient financial assistance or charitable care
• Nineteen percent of fourth quarter gross billings qualified for accrual-based revenue recognition treatment
• Revenue recorded on an accrual basis during the full year 2016 was $8.5 million, including $4.0 million in net
revenues for which cash had not yet been collected as of December 31, 2016
• Revenue recorded on a cash basis during the full year 2016 was $74.4 million, a 125% increase year-over-year
2016 2015
U.S. DOLLARS IN MILLIONS q4 q3 q2 q1 q4 q3 q2 q1
Gross billings $ 63.8 $ 57.5 $ 54.0 $ 45.5 $ 34.5 $ 28.9 $ 26.6 $ 20.8
Revenue recorded on accrual basis $ 8.5 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0
Cash basis revenue for therapy provided in the period 6.3 8.9 7.6 5.6 4.9 3.3 2.7 1.8
Cash basis revenue for therapy provided in previous period $ 15.5 $ 12.7 $ 10.3 $ 7.4 $ 7.5 $ 5.7 $ 3.8 $ 3.4
Net revenues $ 30.2 $ 21.7 $ 17.9 $ 13.1 $ 12.4 $ 9.0 $ 6.5 $ 5.2
© Novocure 2017 44
q4 2016 selected financial highlights U.S. DOLLARS IN THOUSANDS
q4 2016 q4 2015 % GROWTH
Net revenues $ 30,242 $ 12,383 144% Cost of revenues 10,973 6,304 74% Impairment of field equipment - - -
Gross profit 19,268 6,079 217%
Research, development and clinical trials 8,471 10,845 -22% Sales and marketing 15,678 14,724 6% General and administrative 12,997 11,116 17% Total operating costs and expenses 37,146 36,685 1%
Operating income (loss) (17,877 ) (30,606 ) 42% Financial expenses, net 2,854 875 226%
Income (loss) before income taxes (20,731 ) (31,481 ) 34% Income tax expense 1,437 1,447 -1%
Net income (loss) $ (22,168 ) $ (32,928 ) 33%
Cash and cash equivalents $ 99,780 $ 119,423 Short-term investments 119,854 150,001
© Novocure 2017 45
fy 2016 selected financial highlights U.S. DOLLARS IN THOUSANDS
fy 2016 fy 2015 % GROWTH
Net revenues $ 82,888 $ 33,087 151% Cost of revenues 39,870 20,610 94% Impairment of field equipment 6,412 -
Gross profit 36,606 12,477 193%
Research, development and clinical trials 41,467 43,748 -5% Sales and marketing 59,449 38,861 53% General and administrative 51,007 33,864 51% Total operating costs and expenses 151,923 116,473 30%
Operating income (loss) (115,317 ) (103,996 ) -11% Financial expenses, net 6,147 3,151 95%
Income (loss) before income taxes (121,464 ) (107,147 ) -13% Income tax expense 10,381 4,434 134%
Net income (loss) $ (131,845 ) $ (111,581 ) -18%
Cash and cash equivalents $ 99,780 $ 119,423 Short-term investments 119,854 150,001
appendix
© Novocure 2017 47
experienced senior leadership
Bill Doyle Executive Chairman
Asaf Danziger Chief Executive Officer
Wilco Groenhuysen Chief Financial Officer
Eilon Kirson, MD, PhD Chief Scientific Officer and
Head of Research & Development
Mike Ambrogi Chief Operating Officer
Peter Melnyk Chief Commercial Officer
Todd Longsworth General Counsel
Yoram Palti, MD, PhD Founder
© Novocure 2017 48
MONOTHERAPY TREATMENT FOR RECURRENT GBM
EF-11 overall survival OPTUNE (n=120)
CHEMOTHERAPY (n=117)
Median OS, months 6.6 6.0
HR and p value HR=0.86, p=0.27
4-year survival 8% 0%
n = 85 n = 13
© Novocure 2017 49
COMBINATION THERAPY FOR NEWLY DIAGNOSED GBM
In the EF-14 phase 3 pivotal trial in newly diagnosed GBM, quality of life, as measured through patient-
reported cognitive function and functional status, was maintained at twelve months for patients receiving
both TTFields and temozolomide compared to temozolomide alone.
• Quality of life was not adversely affected by the continuous use of TTFields
• Activities of daily living did not decline when TTFields were added to temozolomide therapy
• Cognitive function did not decline when TTFields were added to temozolomide therapy
quality of life maintained
Quality of Life, Cognitive Function and Functional Status in the EF-14 Trial: a Prospective, Multi-Center Trial of Tumor Treating Fields Together With Temozolomide (TMZ) Compared to TMZ Alone in Patients With Newly Diagnosed GBM, SNO presentation, (Friday, Nov. 20, 2:40-2:50 p.m., concurrent session 2A – clinical trials phase II/III, abstract: 0761)
© Novocure 2017 50
active patients drive revenue • Increase or decrease in active
patients in any given period
reflects the number of new
patients less the number of
patients discontinuing therapy
• The conversion of prescriptions
to new patients is driven by the
prescription fill rate and the time
to fill the prescription
• The rate of patients
discontinuing therapy is
determined by the treatment
duration for patients starting
therapy in prior periods Active patientsat prior period
end
Prescriptionsin period
Prescriptionsfrom prior
period filled inperiod
Prescriptionsfrom periodnot yet filled
Patientsdiscontinuing
therapy inperiod
Active patientsat period end
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