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Sep 30, 2020
Novocure Q3 2020 Earnings Report
Novocure reported a record quarter with revenue growth and financial strength, advancing clinical and product development programs.
Key Takeaways
Novocure reported a strong third quarter with net revenues of $132.7 million, a 44% increase compared to Q3 2019, and net income of $9.3 million, resulting in $0.09 earnings per share. The company ended the quarter with 3,361 active patients and is focused on expanding access to approved indications and positioning the company for future growth.
Net revenues reached $132.7 million, a 44% increase year-over-year and a 14% increase compared to the second quarter of 2020.
Net income was $9.3 million, with earnings per share of $0.09.
Active patients totaled 3,361 at the end of the quarter, representing a 22% increase year-over-year.
The company is preparing for key clinical trial readouts and focusing on technology innovation to extend survival in aggressive forms of cancer.
Novocure
Novocure
Forward Guidance
The company anticipates several clinical milestones in the coming years.
Positive Outlook
- Data from phase 2 pilot HEPANOVA trial in advanced liver cancer (Q1 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)