Novocure Announces Portfolio Prioritization and Strategic Restructuring Plan Focused on Near-term Growth Drivers and an Accelerated Path to Profitability
2023年11月28日 - 9:30PM
ビジネスワイヤ(英語)
Prioritizing metastatic non-small cell lung cancer launch and
focusing research and development activities in areas of greatest
anticipated value creation
Expected reduction in residual operating expenses of
approximately $60 million, including a reduction in headcount of
approximately 200 colleagues, 13% of total workforce
Novocure (NASDAQ: NVCR) today announced a series of actions to
strengthen and optimize business operations to support near-term
growth drivers and long-term value creation. The plan includes an
expected reduction in residual operating expenses of approximately
$60 million, enabling the Company to fund future growth priorities
without an associated increase in expected forward operating cash
burn. Novocure continues to focus resources on its global
commercial infrastructure and launch preparation ahead of its
anticipated indication in metastatic non-small cell lung cancer and
on high-potential research and development programs.
“Decisions like these are deeply personal and challenging,
because of the impact on our employees and their families,” said
Novocure’s Chief Executive Officer, Asaf Danziger. “To those
departing Novocure, I want to express my sincere gratitude for your
hard work. Your contributions have influenced the lives of many
cancer patients and your legacy will forever be intertwined with
Novocure.”
“The initiatives announced today prioritize growth and maintain
financial health and flexibility as we position our company for
future profitability,” said Novocure’s Chief Financial Officer,
Ashley Cordova. “These decisions were difficult, yet essential.
With a more focused organization, we are confident that these
initiatives will bolster Novocure’s position, enabling us to unlock
our long-term potential and fulfill our mission.”
Key elements of the plan include:
Portfolio prioritization Novocure has taken a holistic review of
operating expenses and has focused resources on the areas of
greatest anticipated value creation, intended to balance near-term
and long-term growth opportunities.
- Novocure continues to invest in launch readiness, including
field-based commercial and field-based medical team hiring, for the
anticipated approval of Tumor Treating Fields therapy for the
treatment of metastatic non-small cell lung cancer following
progression on or after platinum-based therapies.
- Novocure will deliver two phase 3 randomized clinical trial
readouts in brain metastases from non-small cell lung cancer
(METIS) and locally advanced pancreatic cancer (PANOVA-3)
anticipated in 2024.
- Novocure has prioritized development investments on a sharply
focused list of randomized clinical trials – TRIDENT, KEYNOTE D58
and LUNAR-2 – which have the potential to drive the greatest value
in solid tumors where Tumor Treating Fields therapy has established
efficacy.
Strategic restructuring In conjunction with its portfolio
prioritization, Novocure is streamlining its operational
expenses.
- Novocure’s plan to reduce residual operating expenses by
approximately $60 million includes a planned reduction in headcount
of approximately 200 colleagues, 13% of its current workforce.
Field-based commercial and field-based medical employees are
minimally affected. Novocure expects to incur one-time costs
related to the workforce reduction of approximately $7 million in
the fourth quarter of 2023.
- The anticipated cost savings are expected to offset growth
investments and accelerate Novocure’s path to profitability.
About Novocure Novocure is a global oncology company
working to extend survival in some of the most aggressive forms of
cancer through the development and commercialization of its
innovative therapy, Tumor Treating Fields. Novocure’s
commercialized products are approved in certain countries for the
treatment of adult patients with glioblastoma, malignant pleural
mesothelioma and pleural mesothelioma. Novocure has ongoing or
completed clinical trials investigating Tumor Treating Fields in
brain metastases, gastric cancer, glioblastoma, liver cancer,
non-small cell lung cancer, pancreatic cancer and ovarian
cancer.
Headquartered in Root, Switzerland and with a growing global
footprint, Novocure has regional operating centers in Portsmouth,
New Hampshire and Tokyo, as well as a research center in Haifa,
Israel. For additional information about the company, please visit
Novocure.com and follow @Novocure on LinkedIn and Twitter.
Forward-Looking Statements In addition to historical
facts or statements of current condition, this press release may
contain forward-looking statements. Forward-looking statements
provide Novocure’s current expectations or forecasts of future
events. These may include statements regarding anticipated
scientific progress on its research programs, clinical trial
progress, development of potential products, interpretation of
clinical results, prospects for regulatory approval, manufacturing
development and capabilities, market prospects for its products,
coverage, collections from third-party payers and other statements
regarding matters that are not historical facts. You may identify
some of these forward-looking statements by the use of words in the
statements such as “anticipate,” “estimate,” “expect,” “project,”
“intend,” “plan,” “believe” or other words and terms of similar
meaning. Novocure’s performance and financial results could differ
materially from those reflected in these forward-looking statements
due to general financial, economic, environmental, regulatory and
political conditions as well as issues arising from the COVID-19
pandemic and other more specific risks and uncertainties facing
Novocure such as those set forth in its Annual Report on Form 10-K
filed on February 23, 2023, and subsequent filings with the U.S.
Securities and Exchange Commission. Given these risks and
uncertainties, any or all of these forward-looking statements may
prove to be incorrect. Therefore, you should not rely on any such
factors or forward-looking statements. Furthermore, Novocure does
not intend to update publicly any forward-looking statement, except
as required by law. Any forward-looking statements herein speak
only as of the date hereof. The Private Securities Litigation
Reform Act of 1995 permits this discussion.
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version on businesswire.com: https://www.businesswire.com/news/home/20231128815584/en/
Investors and Media: Ingrid Goldberg 610-723-7427
investorinfo@novocure.com media@novocure.com
NovoCure (NASDAQ:NVCR)
過去 株価チャート
から 5 2024 まで 6 2024
NovoCure (NASDAQ:NVCR)
過去 株価チャート
から 6 2023 まで 6 2024