Novocure (NVCR) Misses Q4 EPS by 4c, Revenues Miss

Novocure (NASDAQ: NVCR) reported Q4 EPS of ($0.17), $0.04 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $69.7 million versus the consensus estimate of $71.42 million.

• Quarterly net revenues of $69.7 million, representing 30 percent growth versus the fourth quarter 2017 and 8 percent growth versus the third quarter 2018
• Full year 2018 net revenues of $248.1 million, representing annual growth of 40 percent compared to 2017
• Three additional phase 3 clinical trials ongoing studying the use of Optune in brain metastases, non-small-cell lung cancer and pancreatic cancer

“2018 was an extremely productive year for Novocure,” said William Doyle, Novocure’s Executive Chairman. “Highlights included annual revenue growth of 40 percent, the presentation of our STELLAR data in mesothelioma, the first patient enrollment in our PANOVA-3 phase 3 trial for pancreatic cancer and our collaboration agreement with Zai Labs in China. We continued to grow our glioblastoma business globally and invested more than $50 million in research and development in 2018.”

“At Novocure, we are working to extend survival in some of the most aggressive forms of cancer by developing and commercializing Tumor Treating Fields,” continued Mr. Doyle. “With 2018 revenues approaching $250 million, four indications in our late stage pipeline and significant cash on hand, we believe we enter 2019 well-positioned to deliver both continued near-term growth and significant long-term value.”

For earnings history and earnings-related data on Novocure (NVCR) click here.

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