- Novocure (NVCR, Financial) reports a 12% year-over-year increase in Q1 2025 net revenues, reaching $155 million.
- The company records a net loss of $34.3 million, equating to a loss per share of $0.31.
- CE Mark approval received for Optune Lua for concurrent treatment of metastatic NSCLC with immune checkpoint inhibitors or docetaxel.
Novocure (NVCR), a leader in the oncology space known for its Tumor Treating Fields (TTFields) technology, reported solid financial performance for the first quarter of 2025. The company's net revenues surged to $155 million, marking a 12% increase compared to the same quarter last year, largely attributed to growth in active patient numbers across its key markets.
The breakdown of revenue contributions sees the United States leading with $93.2 million, followed by Germany, France, and Japan at $18.7 million, $17.9 million, and $8.7 million, respectively. Novocure also garnered $4.6 million from its partnership in Greater China with Zai Lab.
However, the company posted a net loss of $34.3 million, translating into a loss per share of $0.31. This was accompanied by an adjusted EBITDA of negative $5.0 million. The quarter also saw research and development expenses of $53.8 million, reflecting a 4% increase from the prior year.
Operationally, as of March 31, Novocure had 4,268 active patients on TTFields therapy globally. This patient count includes 4,162 on Optune Gio therapy, a 9% increase from the previous year. There were 106 active Optune Lua patients, comprising 62 treated for metastatic NSCLC and 44 for malignant pleural mesothelioma.
Notable achievements for Novocure include securing CE Mark approval for Optune Lua, which can now be used concurrently with immune checkpoint inhibitors or docetaxel in adult patients with metastatic NSCLC who have progressed following a platinum-based regimen. Looking ahead, the results of the Phase 3 PANOVA-3 trial in pancreatic cancer have been accepted for presentation at the American Society of Clinical Oncology Annual Meeting this year.
Novocure continues to adapt to the changing global tariff landscape, with U.S. tariffs temporarily delayed by 90 days, which could impact import duties by up to $11 million if original rates resume post-pause.
