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Sep 30, 2021
Novocure Q3 2021 Earnings Report
Reported solid execution with strategic investments across clinical, product development, and commercial initiatives.
Key Takeaways
Novocure reported net revenues of $133.6 million, representing a 1% increase compared to Q3 2020. The company invested $48 million in research, clinical, and product development initiatives. Enrollment was completed in the phase 3 INNOVATE-3 trial and the phase 2 EF-31 trial, and a new collaboration with Roche was announced.
Net revenues reached $133.6 million, a 1% increase year-over-year.
Gross margin was 77%.
Completed enrollment in the phase 3 INNOVATE-3 trial for recurrent ovarian cancer.
Announced a clinical trial collaboration with Roche to evaluate TTFields together with atezolizumab for metastatic pancreatic cancer.
Forward Guidance
Novocure is nearing a key inflection point as several late-stage clinical trials approach full enrollment, with the LUNAR trial expected to enroll the final patient by year-end.
Positive Outlook
- FDA granted breakthrough device designation to the NovoTTF-200T™ system for the treatment of advanced liver cancer.
- Announced a clinical trial collaboration with Roche to evaluate TTFields together with atezolizumab for the treatment of metastatic pancreatic cancer.
- The last patient was enrolled in the phase 2 pilot EF-31 trial for the treatment of gastric cancer.
- The last patient was enrolled in the phase 3 pivotal INNOVATE-3 trial for the treatment of recurrent ovarian cancer.
- Actively designing a phase 3 pivotal trial studying the efficacy of TTFields together with atezolizumab and bevacizumab for the first-line treatment of patients with unresectable or metastatic liver cancer.
Challenges Ahead
- Data from phase 2 pilot EF-31 trial in gastric cancer (2022)
- Data from phase 2 pilot EF-33 trial with high-intensity arrays in recurrent glioblastoma (2022)
Historical Earnings Impact
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