Novocure Ltd. (NASDAQ: NVCR) saw its shares trade higher in premarket activity Wednesday after the Centers for Medicare & Medicaid Services (CMS) told the company that its Medicare billing privileges have been reinstated. The notice, delivered to Novocure's U.S. subsidiary, Novocure Inc., was issued on Monday and rescinded an earlier revocation.
CMS noted that the reinstatement of Medicare billing privileges will be retroactive to December 17, 2025. That same effective date had been attached to the prior revocation, which CMS enacted on January 29, 2026. According to statements from the company, the revocation resulted from an administrative process issue tied to the firm’s triannual re-validation and was not the consequence of a substantive failure to qualify for re-validation.
During the interval in which Medicare billing privileges were listed as revoked, Novocure maintained patient care operations. The company continued to provide services for existing patients and also accepted new patients. Novocure has indicated that it believes there will ultimately be no impact to its ability to recognize revenue for services delivered during the period when billing privileges were in question.
The CMS action removes a source of ambiguity around the company’s capacity to bill Medicare for its tumor treating fields therapy, a modality used in cancer treatment. By restoring billing privileges and making that restoration retroactive to December 17, 2025, the agency effectively reversed the previously announced revocation that had created short-term operational uncertainty.
Novocure’s public comments framed the earlier revocation as administrative rather than substantive. The company’s position is that continued patient care during the period of ineligibility and the retroactive reinstatement should prevent disruption to revenue recognition tied to those services. The CMS letter and Novocure’s subsequent statements together conclude the immediate regulatory uncertainty around Medicare billing for the therapy.