During our first full year as a public company, we achieved many important milestones that we believe leave us well positioned for our future success.

We had nearly 1,100 active Optune patients on treatment at the end of 2016 and have made great strides in our GBM business. During 2016, we added more than 400 certified treatment centers globally and expanded our sales force in the United States and Germany. We completed the rollout of our second generation Optune System, which weighs less than 2.7 pounds. We took steps forward in market access and in contracting with major payers, entering 2017 with more than 180 million U.S. covered lives.

We also made strides in advancing our clinical pipeline. In October 2016, we enrolled the first patient in our phase 3 pivotal METIS trial studying TTFields in patients with brain metastases from non-small cell lung cancer. In February 2017, we enrolled the first patient in our phase 3 pivotal LUNAR trial studying TTFields in patients with advanced non-small cell lung cancer. We completed phase 2 pilot trials in pancreatic cancer and ovarian cancer, and shared the topline results at our research and development day in December 2016. We also presented what we believe are promising interim results from our phase 2 pilot trial in mesothelioma at the International Association for the Study of Lung Cancer World Conference. In our preclinical and clinical experience to date, TTFields have consistently shown anti-mitotic activity with no known systemic toxicity, and we are encouraged by the preliminary evidence from these pilot studies.

Financially, we ended the year in a position of strength to support our commercial business and our clinical pipeline.

We recorded revenues of $82.9 million for the full year 2016, representing more than 150 percent of year-overyear revenue growth. On December 31, 2016, we had almost $220 million in cash, cash equivalents and short term investments on our balance sheet.

Looking forward to 2017, we are acutely focused on our simple, two-pronged strategy that we believe will enable us to responsibly sustain the growth of our business while bringing our therapy to patients. First, we are committed to driving commercial adoption of Optune within our GBM business. Second, we are dedicated to advancing our clinical pipeline to indications beyond GBM. We strive to achieve both of these strategies while improving operating leverage. With discipline and focus, we are committed to bringing our profoundly different approach to cancer treatment to as many patients as possible who may benefit from it.

Thank you for your continued support of Novocure.

Today’s traditional treatments–surgery, radiation and chemotherapy—were once thought of as radical, and each therapy evolved over time. Throughout medical history, advancements small and large led to improved survival rates and quality of care over prior treatments. Every several decades, a major breakthrough made a significant enough impact to change the course of cancer treatment for countless patients.

Yet for many people diagnosed with some of the most aggressive forms of cancer, traditional treatments aren’t enough, as is evident from low and stagnant survival rates in certain forms of cancer. In order to make a meaningful impact in the lives of these patients, we believe that we need a different approach to solid tumor cancer treatment.

In 2000, Yoram Palti, Novocure’s founder and professor emeritus of physiology and biophysics at the Technion - Israel Institute of Technology, hypothesized and began testing such an approach. Instead of searching for ways to improve upon existing cancer therapies, he employed his knowledge of physics to influence biological processes in cancer cells, particularly mitosis. Professor Palti proposed that alternating electric fields tuned to specific frequencies could disrupt cancer cell division without causing many of the life-altering side effects associated with other traditional treatments. Over a decade of preclinical and clinical research in more than 15 cancer cell lines has proven he was right.

Professor Palti viewed the problems with traditional cancer treatments through an innovative lens. He assessed the need for improved outcomes and his own knowledge in physics and biology, and questioned what people think about existing treatments and where they might be stuck in their thought patterns. By thinking of killing cancer from a new perspective, he discovered another way.

The spirit of Professor Palti’s original hypothesis remains a core pillar of Novocure today. As innovators ourselves, we carried Professor Palti’s original idea forward. Like the many innovators in cancer research who’ve come before, we see the limitations of current treatments not as a challenge, but as an opportunity to approach the problem—and find a solution—in a profoundly different way.