Novocure Stock Price, News & Analysis

Novocure (NVCR) reported full year 2021 net revenues of $535 million, up 8% year-over-year, with fourth quarter revenues at $133.2 million. The company invested a record $201 million in research and development. Despite no material revenue from Medicare backlog this quarter, the gross margin stood at 78%.

A net loss of $26.5 million was recorded for the quarter, with an adjusted EBITDA of $1.7 million. The company anticipates active patient growth of 2% to 5% in 2022.

Novocure (NVCR) reported preliminary full-year 2021 net revenues of $535 million, an increase of 8% from the previous year, with fourth-quarter revenues of $133 million. The company noted no significant revenue from its Medicare backlog in Q4 2021, contrasting with $11 million from prior claims in Q4 2020. An interim analysis for the INNOVATE-3 ovarian cancer trial is expected in early Q2 2022. Novocure forecasts active patient growth of 2%-5% in 2022 and has $937.7 million in cash equivalents as of December 31, 2021.

Novocure (NASDAQ: NVCR) will participate in the 40th Annual J.P. Morgan Virtual Healthcare Conference from January 10-13, 2022. Executive Chairman William Doyle is scheduled to present on January 11 at 7:30 a.m. EST, addressing analyst questions. Additionally, Doyle and CFO Ashley Cordova will engage in one-on-one meetings with investors during the event. A live audio webcast and related materials will be available on Novocure's Investor Relations page for 14 days post-event. Novocure focuses on extending survival for aggressive cancers through its Tumor Treating Fields technology.

Novocure (NASDAQ: NVCR) has signed a $9.5 million purchase agreement to acquire an office building in Portsmouth, New Hampshire, to support its growing workforce of over 1,100 employees. This new facility will include a training and development center for physicians to learn about Novocure’s Tumor Treating Fields technology. The total investment, including construction, is estimated at $14.5 million, with closing expected by December 31, 2021. This expansion highlights Novocure's commitment to its U.S. roots and its role in the global oncology market.

Novocure (NASDAQ: NVCR) announced the 4th Annual AACR-Novocure Grants for Tumor Treating Fields Research Program, totaling over $2 million in grants and awards over three years. This program, in collaboration with the American Association for Cancer Research (AACR), will fund five research grants of $250,000 each and two career development awards of $225,000 each. The focus is on innovative TTFields research to enhance treatment strategies. The application deadline is January 20, with winners announced at the AACR Annual Meeting in April.

Novocure (NASDAQ: NVCR) announced its participation in two investor conferences: the 33rd Annual Piper Sandler Healthcare Conference on November 30, 2021, and the 4th Annual Evercore ISI HealthCONx Conference on December 2, 2021. Executive Chairman William Doyle and CFO Ashley Cordova will participate in a fireside chat and one-on-one investor meetings at the Piper Sandler event, while Cordova and Chief Commercial Officer Pritesh Shah will hold meetings during the Evercore ISI conference. A live audio webcast will be available on Novocure's Investor Relations page.

Novocure announces successful enrollment completion in the phase 3 LUNAR trial for advanced stage 4 non-small cell lung cancer (NSCLC), with final data expected by year-end 2022. This pivotal study examines the efficacy of Tumor Treating Fields (TTFields) alongside immune checkpoint inhibitors or docetaxel, targeting improved overall survival rates. Annually, NSCLC affects nearly 200,000 patients in the U.S., and the trial is significant for treatment evolution. This marks Novocure's second phase 3 trial to finish enrollment this quarter, with more data anticipated in the following two years.

Novocure (NASDAQ: NVCR) announced promising results from the phase 2 pilot 2-THE-TOP trial, which evaluates Tumor Treating Fields (TTFields) combined with pembrolizumab and temozolomide for newly diagnosed glioblastoma patients. With over 9 months of follow-up, median progression-free survival was at least 11.2 months, significantly higher than the historical median of 6.7 months. The study observed a 24% response rate with partial or complete responses. The data will be presented by Dr. David Tran at the Society for Neuro-Oncology Annual Meeting on November 19, 2021.

Novocure (NASDAQ: NVCR) announced an oral presentation featuring updated data from the 2-THE-TOP study for newly diagnosed glioblastoma (GBM) patients treated with Tumor Treating Fields (TTFields), pembrolizumab, and temozolomide. The study indicated a median progression-free survival of at least 11.2 months in patients with over 9 months of follow-up. This information will be presented at the Society for Neuro-Oncology (SNO) 2021 Annual Meeting in Boston from November 18 to 21, with 31 presentations related to TTFields expected.