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selected financials

Continued focus on
revenue generation and
operating leverage

Entering 2017, we believe we have established a strong foundation upon which we are building a global oncology business. We realized 2016 net revenues of $82.9 million, an increase of more than 150% versus the prior year. We improved our ability to collect payment by improving coverage and contracting in the U.S., and we saw significant active patient and revenue growth in EMEA.

Regardless of the trajectory of the adoption curve in GBM, our management team strives to improve operating leverage. We believe that our SG&A organization is substantially built and able to support the commercialization of Optune in our currently active markets. Ending the year with $220 million cash on hand and with our infrastructure substantially built, we believe that we have the resources to reach profitability in our GBM business alone and to fund our clinical pipeline to build our business for the future.


active patient growth since 2015


revenue growth 2016 versus 2015

revenue growth

consolidated statement
of operations

Year ended December 31,
USD Thousands 2016 2015 2014
Net revenues $ 82,888 $ 33,087 $ 15,490
Cost of revenues 39,870 20,610 10,036
Impairment of field equipment 6,412
Gross profit 36,606 12,477 5,454
Operating costs and expenses:
     Research, development and clinical trials 41,467 43,748 40,381
     Sales and marketing 59,449 38,861 21,177
     General and administrative 51,007 33,864 24,052
Total operating costs and expenses 151,923 116,473 85,610
Operating loss (115,317) (103,996) (80,156)
Financial expenses, net (6,147) (3,151) (144)
Loss before income taxes (121,464) (107,147) (80,300)
Income taxes 10,381 4,434 382
Net loss $ (131,845) $ (111,581) $ (80,682)

“With a growing commercial business in two FDA-approved indications and an advancing clinical pipeline in additional solid tumor cancers, we believe we are establishing Novocure as a global oncology business.”


corporate officers and
executive leadership

William F. Doyle
Executive Chairman

Asaf Danziger
Chief Executive Officer

Mike Ambrogi
Chief Operating Officer

Wilco Groenhuysen
Chief Financial Officer

Eilon Kirson, M.D., Ph.D.
Chief Science Officer and
Head of Research and Development

Todd Longsworth
General Counsel

Yoram Palti, M.D., Ph.D.

board of directors

William F. Doyle
Executive Chairman

William Burkoth

Asaf Danziger

Louis Lavigne, Jr.

Kinyip Gabriel Leung

Robert J. Mylod, Jr.

Yoram Palti, M.D., Ph.D.

Gert Lennart Perlhagen

Charles G. Phillips III

William A. Vernon

For more information on novocure executive leadership go to:

As far as we’ve come in the last 16 years, we are intensely focused on the future. Treatment with TTFields offers a profoundly different approach to cancer treatment.

We believe that the basic mechanism behind treatment of solid tumor cancers with TTFields may be broadly applicable and is not limited to a specific tumor type or genetic marker. Importantly, we believe TTFields has the potential to increase survival when used in combination with other cancer therapies without significantly increasing side effects. Treatment with TTFields is FDA approved for the treatment of GBM, and we are committed to developing our promising therapy for a broad range of solid tumor types.