Novocure (NVCR) Tops Q3 EPS by 7c, Revenues Beat

Novocure (NASDAQ: NVCR) reported Q3 EPS of $0.02, $0.07 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $92.1 million versus the consensus estimate of $87.08 million.

• Quarterly net revenues of $92.1 million, representing 42% growth versus the third quarter 2018
• First quarter ever of positive net income with $0.02 in earnings per share
• Continued clinical progress with four ongoing phase 3 pivotal trials creating the potential for substantial market expansion over the next five years

“The third quarter 2019 was another strong quarter for Novocure,” said Asaf Danziger, Novocure’s CEO. “Marked by the third consecutive quarter of greater than 40 percent year-over-year revenue growth, commercial execution drove a record $92 million in net revenues and our first quarter ever of positive net income. With multiple levers to deliver continued near-term revenue growth, cash flow from the GBM business provides the financial flexibility and stability needed to ensure we can make the appropriate investments in our clinical pipeline and further technology development.”

“We are determined to unlock the value of Tumor Treating Fields therapy across a variety of solid tumor indications,” said Bill Doyle, Novocure’s Executive Chairman. “Our teams continue to make progress enrolling patients in randomized, phase 3, pivotal trials in brain metastases, lung cancer, pancreatic cancer and ovarian cancer, and in our phase 2 pilot study in liver cancer. If approved, the indications in our late-stage pipeline will create a more than 20-fold increase in our U.S. addressable market.”

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

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