Novocure Q4 2022 Earnings Report
Key Takeaways
Novocure reported a slight decrease in revenue for Q4 2022, impacted by aged claims and coverage updates. However, the company achieved key clinical milestones, including the completion of enrollment in the PANOVA-3 study and positive top-line results from the LUNAR study.
Total net revenues for the quarter were $128.4 million, a decrease of 4% year-over-year.
The United States, EMEA and Japan contributed $98.6 million, $17.0 million, and $7.9 million in quarterly net revenues, respectively.
Net loss for the quarter was $37.3 million with loss per share of $0.36.
As of December 31, 2022, there were 3,430 active patients on therapy, a decrease of 4% year-over-year.
Novocure
Novocure
Forward Guidance
Novocure anticipates data releases from pivotal studies in the coming years, which could significantly expand the number of patients eligible for Tumor Treating Fields. The company is executing well and their achievements are building the foundations for the future of Novocure. We are looking forward to an eventful 2023.
Positive Outlook
- Data from the pivotal LUNAR study in non-small cell lung cancer (1H 2023)
- Data from the pivotal INNOVATE-3 study in recurrent ovarian cancer (2H 2023)
- Top-line data from the pivotal METIS study in brain metastases (Q1 2024)
- Data from the pivotal PANOVA-3 study in locally advanced pancreatic cancer (2024)