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Jun 30, 2023
Novocure Q2 2023 Earnings Report
Reported sound execution and expansion, driven by restructured commercial organization and successful Optune launch in France.
Key Takeaways
Novocure reported a decrease in total net revenues for the quarter, primarily due to reduced collections from previously denied or appealed claims in the U.S. However, the company saw an increase in prescriptions and achieved positive results from the phase 3 LUNAR trial.
Total net revenues for the quarter were $126.1 million, an 11% decrease compared to the same period in 2022.
Gross margin for the quarter was 73%.
1,556 prescriptions were received in the quarter, a 13% increase compared to the same period in 2022.
Phase 3 LUNAR trial in non-small cell lung cancer met primary and key secondary survival endpoints.
Revenue by Geographic Location
Forward Guidance
Novocure anticipates data from phase 3 INNOVATE-3 clinical trial in recurrent ovarian cancer in the second half of 2023, top-line data from phase 3 METIS clinical trial in brain metastases in Q1 2024, and data from phase 3 PANOVA-3 clinical trial in locally advanced pancreatic cancer in the second half of 2024.
Historical Earnings Impact
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