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Mar 31, 2021
Novocure Q1 2021 Earnings Report
Reported continued commercial strength and progress across clinical and product development programs.
Key Takeaways
Novocure reported a 32% increase in net revenues, reaching $134.7 million, with a gross margin of 80%. The company invested $46 million in research and development. There were 3,454 active patients on therapy at the end of the quarter.
Net revenues reached $134.7 million, a 32% increase year-over-year.
Gross margin was reported at 80%.
An interim analysis for the phase 3 pivotal LUNAR trial in non-small cell lung cancer concluded with a favorable recommendation to continue the trial with a reduced sample size.
There were 3,454 active patients on therapy at the end of the quarter, representing a 12% increase year-over-year.
Forward Guidance
Novocure anticipates several clinical milestones, including FDA response to IDE supplement, presentation of full data from phase 2 pilot HEPANOVA trial, and interim analysis of phase 3 pivotal INNOVATE-3 trial.
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