NVCR - NovoCure: Overview Of The GBM Business

• NovoCure's revenue growth has slowed down in recent quarters.
• COVID-19 is having an impact, but Optune in GBM is also in a more mature stage with 35% market penetration in existing markets.
• Longer term, there are significant growth opportunities in the GBM market, driven by device improvements and additional combination approaches.
• High-intensity arrays, combination with PD-1 antibodies, and use along with radiation therapy instead of post-radiation are the main opportunities to increase the average time on therapy and drive higher market penetration.
• GBM could be a $1.5 billion to $2 billion business for NovoCure by late 2020s if these approaches live up to their potential.

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