According to the Complaint, NovoCure Limited is a global oncology company with a proprietary platform technology called Tumor Treating Fields (“TTFields”), which are electric fields that exert physical forces to kill cancer cells via a variety of mechanisms. One of NovoCure’s key priorities has been to drive commercial adoption of Optune and Optune Lua, the Company’s commercial TTFields devices, and to advance clinical and product development programs intended to extend overall survival in some of the most aggressive forms of cancer.

On January 5, 2023, Defendants announced topline results from the Company’s LUNAR Study.

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company concealed the true nature of the LUNAR study data, including that the study relied on a relatively small percentage of study participants that had been receiving standard of care therapy; (ii) as a result, the data was materially less reliable in terms of demonstrating clinical efficacy; (iii) the foregoing, once revealed, was reasonably likely to have a material negative impact on the Company’s regulatory prospects and operations; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On August 29, 2023, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an Amended Complaint on November 13. Defendants filed a Motion to Dismiss the Amended Complaint on March 4, 2024.

On March 18, 2025, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint. On April 8, Lead Plaintiff submitted a letter informing the Court that he would not file a second Amended Complaint. On the same date, the Court directed the Clerk of Court to enter Judgment in favor of the Defendants.