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Novocure Q1 2025 Earnings Report
Novocure reported a 12% increase in net revenues, reaching $155 million, with 4,268 active patients on therapy as of March 31, 2025.
Key Takeaways
Novocure delivered a strong first quarter in 2025, with net revenues increasing by 12% year-over-year, driven by active patient growth. The company also achieved significant clinical and regulatory milestones, including CE Mark approval for Optune Lua and positive Phase 3 trial results for PANOVA-3.
Total net revenues for Q1 2025 were $155.0 million, a 12% increase year-over-year.
Active patients on TTFields therapy globally reached 4,268 as of March 31, 2025.
CE Mark approval was received for Optune Lua for use with immune checkpoint inhibitors or docetaxel in metastatic NSCLC.
Phase 3 PANOVA-3 trial results in pancreatic cancer were accepted for presentation at the 2025 ASCO Annual Meeting.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Novocure anticipates continued expansion across new indications and physician specialties, with ongoing pipeline advancements and a focus on patient-forward innovation. The company is also monitoring the evolving global tariff landscape.
Positive Outlook
- Expansion across new indications and physician specialties.
- Lung launch progressing well.
- Pipeline advancing with ongoing clinical trials.
- Commitment to patient-forward innovation.
- Anticipated data from Phase 2 PANOVA-4 and Phase 3 TRIDENT clinical trials in H1 2026.
Challenges Ahead
- Potential increase in import duties of up to $8 million in 2025 if the current tariff pause is extended through year-end.
- Potential increase in import duties of up to $11 million if tariffs return to pre-April 9 rates after the 90-day pause.
- Gross margin reduction primarily driven by the roll out of HFE arrays and NSCLC launch prior to broad reimbursement.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
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