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Mar 31, 2020
Novocure Q1 2020 Earnings Report
Reported revenue growth and financial strength, clinical pipeline developments and the company’s response to COVID-19.
Key Takeaways
Novocure reported a strong quarter with $102 million in net revenues, $4 million in net income, and $331 million cash on hand. Net revenues increased by 39% compared to the first quarter 2019.
Net revenues of $101.8 million, representing 39 percent growth versus the first quarter 2019.
Gross profit of $77.3 million, a 45% increase compared to Q1 2019.
Net income of $4.0 million compared to a net loss of $12.2 million for the same period in 2019.
Cash, cash equivalents and short-term investments at end of period $331.3 million, a 29% increase compared to Q1 2019.
Novocure
Novocure
Forward Guidance
Novocure continues to advance its clinical milestones with data readouts expected over the next several years.