Novocure Q4 2021 Earnings Report
Key Takeaways
Novocure reported a decrease in total net revenues for the quarter, with $133.2 million compared to $143.953 million in the same quarter of the previous year. The company experienced a net loss of $26.5 million, or $0.25 per share, compared to a net income of $4.917 million, or $0.05 per share, in Q4 2020. Despite the decrease in revenues, the company invested significantly in research and development, with expenses totaling $56.9 million for the quarter.
Total net revenues for the quarter were $133.2 million, a decrease compared to the previous year.
Net loss for the quarter was $26.5 million, with a loss per share of $0.25.
Adjusted EBITDA for the quarter was $1.7 million.
As of December 31, 2021, there were 3,587 active patients on therapy, an increase of 5% year-over-year.
Novocure
Novocure
Forward Guidance
The company expects to achieve active patient growth between 2% to 5% in 2022, in-line with the growth rate experienced in the fourth quarter of 2021. Longer term, the company continues to expect further adoption in its core GBM business.
Positive Outlook
- Data from phase 2 pilot EF-31 study in gastric cancer (2022)
- Data from phase 2 pilot EF-33 study with high-intensity arrays in recurrent GBM (2022)
- Last patient enrollment in phase 3 pivotal METIS study in brain metastases (2022)
- Data from phase 3 pivotal LUNAR study in NSCLC (2022)
- Last patient enrollment in phase 3 pivotal PANOVA-3 study in locally advanced pancreatic cancer (2023)
Challenges Ahead
- Data from phase 3 pivotal INNOVATE-3 study in recurrent ovarian cancer (2023)
- Data from phase 3 pivotal METIS study in brain metastases (2023)
- Data from phase 3 pivotal PANOVA-3 study in locally advanced pancreatic cancer (2024)