Novocure Q2 2020 Earnings Report
Key Takeaways
Novocure reported a strong second quarter in 2020, with net revenues of $115.9 million, representing a 34% increase compared to Q2 2019. The company also reported positive EPS of $0.02 and continued to invest in its clinical and product development programs.
Net revenues reached $115.9 million, a 34% increase compared to the second quarter of 2019.
Gross profit was $90.5 million, representing a 38% increase compared to the second quarter of 2019.
Net income was $1.7 million, compared to a net loss of $1.3 million in the same period last year.
The company had $346.7 million in cash, cash equivalents, and short-term investments at the end of the period.
Novocure
Novocure
Forward Guidance
Novocure anticipates several clinical milestones in the coming years, including data releases and interim analyses from various phase 2 and phase 3 trials.
Positive Outlook
- Data from phase 2 pilot HEPANOVA trial in advanced liver cancer (2021)
- Data from phase 2 pilot EF-31 trial in gastric cancer (2021)
- Interim analysis of phase 3 pivotal LUNAR trial in non-small cell lung cancer (2021)
- Interim analysis of phase 3 pivotal PANOVA-3 trial in locally advanced pancreatic cancer (2021)
- Interim analysis of phase 3 pivotal INNOVATE-3 trial in recurrent ovarian cancer (2021)
Challenges Ahead
- Data from phase 3 pivotal METIS trial in brain metastases (2022)
- Data from phase 2 pilot EF-33 trial with high-intensity arrays in recurrent glioblastoma (2022)
- Final data from phase 3 pivotal LUNAR trial in non-small cell lung cancer (2023)
- Final data from phase 3 pivotal PANOVA-3 trial in locally advanced pancreatic cancer (2023)
- Final data from phase 3 pivotal INNOVATE-3 trial in recurrent ovarian cancer (2023)