NovoCure Ltd. ( (NVCR) ) has released its Q4 earnings. Here is a breakdown of the information NovoCure Ltd. presented to its investors.
Novocure Ltd. is a global oncology company specializing in the development and commercialization of Tumor Treating Fields (TTFields) therapy, aimed at improving survival rates in aggressive cancer forms.
In its latest financial report, Novocure announced a full-year net revenue of $605 million for 2024, marking a 19% increase from the previous year. The company also highlighted the FDA approval of Optune Lua for metastatic non-small cell lung cancer and the successful completion of the Phase 3 PANOVA-3 trial for pancreatic cancer.
Key financial metrics revealed a fourth-quarter revenue of $161 million, a 21% increase year-over-year, with significant contributions from the U.S., Germany, France, and Japan. The company’s gross margin stood at 79%, and despite a net loss of $65.9 million for the quarter, adjusted EBITDA showed a positive shift to $2.6 million. Operationally, Novocure reported 4,126 active patients on TTFields therapy globally.
Strategically, Novocure is poised for growth with its multi-indication platform, supported by positive Phase 3 data in three cancer indications. The company plans to submit further data for regulatory review and anticipates continued revenue growth driven by its glioblastoma and non-small cell lung cancer treatments.
Looking ahead, Novocure’s management remains optimistic about transforming patient outcomes across various oncology indications, with expectations of sustained growth and strategic advancements in 2025.