2017 annual report

Novocure leadership

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

Martin J. Madden

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

Gert Lennart Perlhagen

Charles G. Phillips III

William A. Vernon
Lead Independent Director

For more information on Novocure
executive leadership go to:


“The progress we made in 2017 would not have been possible without patients and their caregivers. Helping patients is what drives this company.”


market price of and dividends on the registrants’ common equity and related stockholder matters

The following performance graph is being furnished as part of this annual report and shall not be deemed “filed” with the SEC or incorporated by reference into any of our filings under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing.

The following graph shows the total shareholder return of an investment of $100 in cash at market close on October 2, 2015 (the first day of trading of our ordinary shares) through December 31, 2017 for (1) our ordinary shares, (2) the Russell 2000 Index, and (3) the Nasdaq Biotechnology Index. Pursuant to applicable SEC rules, all values assume reinvestment of the full amount of all dividends; however, no dividends have been declared on our ordinary shares to date. The shareholder return shown on the graph below is not necessarily indicative of future performance, and we do not make or endorse any predictions as to future stockholder returns.

comparison of 27 month cumulative total return

total return annual comparison cumulative total return summary

10.2.2015 12.31.2015 03.31.2016 06.30.2016 09.30.2016 12.31.2016 03.31.2017 06.30.2017 09.30.2017 12.31.2017
NovoCure Limited Return % 22.32 -35.24 -19.41 -26.82 -8.08 3.18 113.58 14.74 1.76
Cum $ 100.00 122.32 79.21 63.84 46.72 42.94 44.31 94.64 108.59 110.50
NASDAQ Biotechnology Index Return % 7.29 -22.88 -1.12 12.50 -8.31 10.84 5.89 7.74 -3.79
Cum $ 100.00 107.29 82.74 81.81 92.03 84.38 93.53 99.04 106.71 102.66
Russell 2000 Index Return % 2.33 -1.52 3.79 9.05 8.83 2.47 2.46 5.67 3.34
Cum $ 100.00 102.33 100.78 104.60 114.06 124.14 127.20 130.33 137.72 142.32

Indications For Use

Optune is intended as a treatment for adult patients (22 years of age or older) with histologically-confirmed glioblastoma multiforme (GBM).

Optune with temozolomide is indicated for the treatment of adult patients with newly diagnosed, supratentorial glioblastoma following maximal debulking surgery and completion of radiation therapy together with concomitant standard of care chemotherapy.

For the treatment of recurrent GBM, Optune is indicated following histologically-or radiologically-confirmed recurrence in the supratentorial region of the brain after receiving chemotherapy. The device is intended to be used as a monotherapy, and is intended as an alternative to standard medical therapy for GBM after surgical and radiation options have been exhausted.

Summary of Important Safety Information


Do not use Optune if you have an active implanted medical device, a skull defect (such as, missing bone with no replacement), or bullet fragments. Use of Optune together with implanted electronic devices has not been tested and may theoretically lead to malfunctioning of the implanted device. Use of Optune together with skull defects or bullet fragments has not been tested and may possibly lead to tissue damage or render Optune ineffective.

Do not use Optune if you are known to be sensitive to conductive hydrogels. In this case, skin contact with the gel used with Optune may commonly cause increased redness and itching, and rarely may even lead to severe allergic reactions such as shock and respiratory failure.

Warnings and Precautions

Use Optune only after receiving training from qualified personnel, such as your doctor, a nurse, or other medical personnel who have completed a training course given by Novocure (the device manufacturer).

Do not use Optune if you are pregnant, you think you might be pregnant or are trying to get pregnant. It is not known if Optune is safe or effective in these populations.

The most common (≥10%) adverse events involving Optune in combination with temozolomide were low blood platelet count, nausea, constipation, vomiting, fatigue, scalp irritation from device use, headache, convulsions, and depression.

All servicing procedures must be performed by qualified and trained personnel.

Do not use any parts that do not come with the Optune Treatment Kit, or that were not sent to you by the device manufacturer or given to you by your doctor.

Do not wet the device or transducer arrays.

If you have an underlying serious skin condition on the scalp, discuss with your doctor whether this may prevent or temporarily interfere with Optune treatment.

Please visit www.optune.com/safety for Optune Instructions for Use (IFU) for complete information regarding the device’s indications, contraindications, warnings, and precautions.