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Mar 31, 2022
Novocure Q1 2022 Earnings Report
Reported solid execution and financial strength, driven by the core glioblastoma business, enabling significant investment in future growth drivers.
Key Takeaways
Novocure reported a 2% increase in total net revenues to $137.5 million for the quarter ended March 31, 2022. The company experienced a net loss of $4.6 million, with a loss per share of $0.04. The company is entering a transformational period with multiple clinical catalysts expected in the near-term.
Total net revenues for the quarter were $137.5 million, a 2% increase compared to the same period in 2021.
The United States, EMEA and Japan contributed $97.4 million, $27.0 million, and $8.8 million in quarterly net revenues, respectively.
Net loss for the quarter was $4.6 million with loss per share of $0.04.
Adjusted EBITDA for the quarter was $26.8 million.
Forward Guidance
The company expects to achieve active patient growth between 2% to 5% in 2022, in-line with the growth rate experienced in the first quarter of 2022. Longer term, the company continues to expect further adoption in its core GBM business.
Positive Outlook
- Data from phase 2 pilot EF-31 study in gastric cancer (2022)
- Data from phase 2 pilot EF-33 study with high-intensity arrays in recurrent GBM (2022)
- Last patient enrollment in phase 3 pivotal METIS study in brain metastases (2022)
- Data from phase 3 pivotal LUNAR study in NSCLC (2022)
- Last patient enrollment in phase 3 pivotal PANOVA-3 study in locally advanced pancreatic cancer (2023)
Challenges Ahead
- Data from phase 3 pivotal INNOVATE-3 study in recurrent ovarian cancer (2023)
- Data from phase 3 pivotal METIS study in brain metastases (2023)
- Data from phase 3 pivotal PANOVA-3 study in locally advanced pancreatic cancer (2024)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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