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Sep 30, 2023
Novocure Q3 2023 Earnings Report
Reported net revenues of $127 million and 3,639 active patients on therapy.
Key Takeaways
Novocure reported a decrease in total net revenues for the quarter to $127.3 million, a 3% decrease compared to the same period in 2022, primarily due to reduced collections from denied claims in the U.S. The company is focused on extending survival in aggressive forms of cancer and made progress in geographic expansion and clinical trials.
Total net revenues for the quarter were $127.3 million, a decrease of 3% compared to the same period in 2022.
Gross margin for the quarter was 75%.
Net loss for the quarter was $49.5 million with loss per share of $0.46.
As of September 30, 2023, there were 3,639 active patients on therapy.
Revenue by Geographic Location
Forward Guidance
The company anticipates top-line data from phase 3 METIS clinical trial in brain metastases in Q1 2024 and top-line data from phase 3 PANOVA-3 clinical trial in locally advanced pancreatic cancer in H2 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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