Novocure Q1 2022 Earnings Report
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.
Novocure
Novocure
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)