CEO Frank X Leonard sells 34,273 shares of NVCR at $17.93 for $614,634.85; holds 459,520 shares post-sale
Frank X Leonard, NovoCure's Chief Executive Officer, sold 34,273 shares at $17.93, reducing his holdings from 493,793 shares to 459,520 shares. The company reported a net loss of $-71,138,000.00 over its most recent full fiscal year despite generating $174,055,000.00 in latest-quarter revenue and achieving annual revenue growth of +8.3%. The sale occurred at a price -10.9% from the 52-week high of $19.25, and the stock has subsequently declined to $17.16 current price. For investors, the combination of sustained unprofitability, CEO share reduction, and the stock trading below its recent highs warrants attention to the company's path to profitability.