Novocure reports Q4 2025 revenues up 8% to $174M; FDA approves Optune Pax for pancreatic cancer

NovoCure Ltd

FDA approved Optune Pax for locally advanced pancreatic cancer in Feb 2026; expands addressable market significantly.
Q4 2025 net revenue $174.4M (+8% YoY); full year $655.4M (+8%). Q4 net loss $24.5M ($0.22 loss per share).
2026 guidance: revenue $675-705M; Adjusted EBITDA ($20M)-$0M; Optune Lua/Pax revenue $15-25M.
Frank Leonard appointed CEO Dec 2025; CMO Nicolas Leupin resigned Feb 2026; CMS billing privileges reinstated.
Active patients on TTFields therapy globally totaled 4,620 at Dec 31, 2025; GBM prescriptions up 6%.

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