Novocure misses Q1 views, reports loss

Quarterly net revenues of $134.7 million with 80% gross margin

Interim analysis for phase 3 pivotal LUNAR trial in non-small cell lung cancer concluded with favorable recommendation to continue the trial with reduced sample size

Novocure (NASDAQ: NVCR) today reported financial results for the quarter ended March 31, 2021, highlighting continued commercial strength despite changes in patterns of care in some regions driven by COVID-19, as well as continued progress across the company’s clinical and product development programs. Novocure is a global oncology company working to extend survival in some of the most aggressive forms of cancer by developing and commercializing its innovative therapy, Tumor Treating Fields (TTFields). TTFields are electric fields that disrupt cancer cell division.

First quarter 2021 highlights include:

	Three Months Ended March 31,
	2021					2020				% Change
Financial, in millions
Net revenues	$	134,695				$	101,828			32		%
Gross Profit	$	108,310				$	77,332			40		%
Net income (loss)	$	(4,128	)			$	3,952			(204	)	%
Adjusted EBITDA(1)	$	21,145				$	15,064			40		%
Non-financial
Active patients at period end(2)	3,454					3,095				12		%
Prescriptions received in period(3)	1,402					1,409				—		%
Novocure will host a conference call and webcast to discuss first quarter 2021 financial results at 8 a.m. EDT today, Thursday, April 29, 2021. Analysts and investors can participate in the conference call by dialing 855-442-6895 for domestic callers and 509-960-9037 for international callers, using the conference ID 2286525. The webcast, earnings slides presented during the webcast and the corporate presentation can be accessed live from the Investor Relations page of Novocure’s website, www.novocure.com/investor-relations, and will be available for at least 14 days following the call. Novocure has used, and intends to continue to use, its investor relations website, as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. https://finance.yahoo.com/news/novocure-reports-first-quarter-2021-100000363.html