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Mar 31, 2023
Novocure Q1 2023 Earnings Report
Novocure reported solid progress with increased prescriptions in the U.S., reimbursement for Optune in France, and the launch of next-generation arrays in Sweden.
Key Takeaways
Novocure reported a decrease in total net revenues for the quarter, but also highlighted progress with increased prescriptions in the U.S., reimbursement for Optune in France, and the launch of next-generation arrays in Sweden. The company anticipates data readouts from multiple phase 3 clinical trials in the coming years.
Total net revenues for the quarter were $122.2 million, an 11% decrease compared to the same period in 2022.
Net loss for the quarter was $53.1 million, with a loss per share of $0.50.
Research, development and clinical studies expenses increased by 41% to $59.7 million.
The company received 1,496 prescriptions in the quarter, an increase of 8% compared to the same period in 2022.
Revenue by Geographic Location
Forward Guidance
Novocure anticipates data from phase 3 LUNAR clinical trial in NSCLC (ASCO Annual Meeting, June 6, 2023), Data from phase 3 INNOVATE-3 clinical trial in recurrent ovarian cancer (2H 2023), Top-line data from phase 3 METIS clinical trial in brain metastases (Q1 2024), Data from phase 3 PANOVA-3 clinical trial in locally advanced pancreatic cancer (2H 2024)
Positive Outlook
- Data from phase 3 LUNAR clinical trial in NSCLC (ASCO Annual Meeting, June 6, 2023)
- Data from phase 3 INNOVATE-3 clinical trial in recurrent ovarian cancer (2H 2023)
- Top-line data from phase 3 METIS clinical trial in brain metastases (Q1 2024)
- Data from phase 3 PANOVA-3 clinical trial in locally advanced pancreatic cancer (2H 2024)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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