Novocure (NVCR) Misses Q4 EPS by 8c, Revenues Beat

Novocure (NASDAQ: NVCR) reported Q4 EPS of $0.04, $0.08 worse than the analyst estimate of $0.12. Revenue for the quarter came in at $144 million versus the consensus estimate of $141.29 million.

“Our track record of execution continued throughout 2020 with notable progress made in advancing our three overarching priorities: to drive commercial adoption; to carry out our clinical trial programs; and to deliver product innovations to optimize Tumor Treating Fields therapy,” said William Doyle, Novocure’s Executive Chairman. “Despite the complexities posed by the COVID-19 pandemic, we generated nearly $500 million in net revenues and $20 million in net income in 2020. Our financial strength positions us well to invest strategically in science and technology to unleash the potential of the Tumor Treating Fields platform.”

“As proud as we are of treating more than 18,000 patients to-date, we remain focused on extending the reach of Tumor Treating Fields therapy to many more cancer patients,” added Asaf Danziger, Novocure’s Chief Executive Officer. “With multiple clinical trials expected to read out over the next few years, we believe we are just beginning to unlock our potential to impact oncology. Acceptance of our therapy continues to build within the global oncology community, which reinforces our commitment to our mission to extend survival in some of the most aggressive forms of cancer.”

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

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