NovoCure Limited

Good day and thank you for standing by. Welcome to the Novocare first quarter 2025 earnings call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your host for today's conference, Ingrid Goldberg. Please go ahead.

Ingrid Goldberg Good morning, and thank you for joining us to review Novocare's first quarter 2025 performance. I'm on the phone this morning with our Executive Chairman Bill Doyle, CEO Ashley Cordova, and CFO Christoph Brockmann. Other members of our leadership team will be available for Q&A. For your reference, slides accompanying this earnings release can be found on our website www.novicure.com on the Investor Relations page under Quarterly Reports. Before we start, I would like to remind you that our discussions during this conference call will include forward-looking statements, and actual results could differ materially from those projected in these statements. These statements involve a number of risks and uncertainties, some of which are beyond our control and are described from time to time in our SEC filings. We do not intend to update publicly any forward-looking statement except as required by law. Where appropriate, we will refer to non-GAAP financial measures to evaluate our business. specifically adjusted EBITDA, a measure of earnings before interest, taxes, depreciation, amortization, and share-based compensation. We believe adjusted EBITDA is an important metric as it removes the impact of earnings attributable to our capital structure, tax rate, and material non-cash items, and best reflects the financial value generated by our business. Reconciliations of non-gap-to-gap financial measures are included in our press release, earnings slides, and our Form 10-Q filed with the SEC today. These materials can also be accessed from the investor relations page of our website. Following our prepared remarks today, we will open the line for your questions. I will now turn the call over to our executive chairman, Bill Doyle.

Thank you, Ingrid, and good morning. For 25 years, our mission at NovoCure has been to extend survival for patients with some of the most aggressive forms of cancer through the development and commercialization of tumor treating fields. 2025 is set to be a defining year for NovoCure as we move from a single indication treating patients with GBM to becoming a multi-indication oncology company. With five successful phase three clinical trials in hand, our focus is squarely on execution, particularly on the regulatory and commercial fronts. This morning, we will discuss early feedback from our non-small cell lung cancer launch, provide commercial and clinical pipeline updates, and then turn to our quarterly financial performance. But before we dive into the quarterly updates, I would like to highlight two items of breaking news. On Tuesday morning, we announced that Optune Lua received European CE mark approval for the treatment of metastatic non-small cell lung cancer. We were pleased to receive a broad label, which includes concomitant treatment with both immune checkpoint inhibitors or docetaxel. Our team in Germany is ready to launch pending local registration. Also, we were pleased to announce yesterday that the results of our Panova 3, our successful phase 3 clinical trial in unresectable locally advanced pancreatic cancer, were accepted for presentation at the upcoming American Society of Clinical Oncology annual meeting. Data from the Panova 3 trial will be presented on Saturday, May 31st, by lead investigator Dr. Vincent Pacozzi of the Virginia Mason Medical Center as part of the Gastrointestinal Cancer Oral Abstracts Clinical Session. That evening, at 7 p.m. Central Time, we plan to host an investor event with a live webcast to dive into the results with Dr. Pacozzi and members of our management team. Pancreatic cancer is one of the deadliest forms of cancer, with an estimated five-year survival rate of only 13% and a growing global incidence. Panova 3 is the first and only Phase 3 trial to demonstrate a meaningful survival benefit in locally advanced pancreatic cancer. Presentation of the Panova 3 data on the main stage at ASCO will bring important visibility to the potential for tumor-treating fields to meaningfully bend the survival curve in pancreatic cancer. We look forward to discussing the Panova 3 results with clinicians and investors next month. I'll now turn the call over to Ashley to provide further updates on Q1.