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Oncology co NovoCure to lay off 200

Summary by Ground News
NovoCure has announced a strategic restructuring program to save $60 million in operating expenses. The program includes laying off 200 employees, 13% of the workforce, although there will only be a few layoffs in the company's Israel development center. The company's value soared on the promise of also being applicable to other more common types of cancers and at its peak in June 2021, NovoCure had a market cap of $22.9 billion.
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GlobesGlobes

Oncology co NovoCure to lay off 200

The company, which has developed a novel therapy for solid tumors using electric fields, has announced a strategic restructuring program.

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Globes broke the news in on Monday, December 11, 2023.
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