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Sep 30, 2022
Novocure Q3 2022 Earnings Report
Reported a decrease in total net revenues and a net loss for the quarter.
Key Takeaways
Novocure reported a decrease in total net revenues by 2% compared to the same period in 2021. The company had a net loss of $26.6 million, with a loss per share of $0.25. However, the company is entering a transformational period with multiple pivotal trial readouts anticipated in coming quarters.
Total net revenues for the quarter were $131.0 million, a decrease of 2% compared to the same period in 2021.
Net loss for the quarter was $26.6 million with loss per share of $0.25.
Adjusted EBITDA for the quarter was $4.4 million.
Cash, cash equivalents and short-term investments were $970.3 million as of September 30, 2022.
Novocure
Novocure
Forward Guidance
The company anticipates several clinical milestones in the coming quarters and years.
Positive Outlook
- Top-line readout from phase 3 pivotal LUNAR study in NSCLC (Q1 2023)
- Data from phase 3 pivotal INNOVATE-3 study in recurrent ovarian cancer (2023)
- Data from phase 3 pivotal METIS study in brain metastases (2024)
- Data from phase 3 pivotal PANOVA-3 study in locally advanced pancreatic cancer (2024)