Novocure (NVCR) Tops Q1 EPS by 2c, Revenues Beat

Novocure (NASDAQ: NVCR) reported Q1 EPS of $0.02, $0.02 better than the analyst estimate of $0.00. Revenue for the quarter came in at $115.9 million versus the consensus estimate of $106.03 million.

• Quarterly net revenues of $115.9 million, representing 34 percent growth versus the second quarter 2019 and 14 percent growth versus the first quarter 2020
• Financial strength allows for continued investments in clinical and product innovation

“Our track record of execution extended into the second quarter 2020 with sustained commercial momentum driving strong financial performance that allowed us to fund increased investments supporting the advancement of Tumor Treating Fields’ science and technology,” said William Doyle, Novocure’s Executive Chairman. “There were several notable achievements since our last earnings call, including last patient enrollment in the HEPANOVA trial, announcement of a clinical collaboration with MSD (a tradename of Merck & Co., Inc., through a subsidiary) in first-line non-small cell lung cancer, and launch of the EF-33 trial to study Tumor Treating Fields delivered with a high-intensity array in recurrent GBM, and we remain determined to advance our strategic priorities to unlock the long-term potential of our proprietary platform.”

“We further strengthened our foundation for growth in Q2,” added Asaf Danziger, Novocure’s Chief Executive Officer. “Our GBM business delivered a record $116 million in global net revenues, we reported positive EPS of $0.02, and Optune received regulatory approval for the treatment of GBM in China. With nearly 3,300 active patients on therapy at the end of the quarter, we added to the more than 16,000 patients treated to-date, globally. We remain confident in our team, our strategy and in the potential of our therapy 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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