Earnings release
Page 1
Novocure Reports First Quarter 2021 Financial Results and Provides Company Update Quarterly net revenues of $ 134.7 million with 80 % gross margin Interim analysis for phase 3 pivotal LUNAR trial in non - small cell lung cancer concluded with favorable recommendation to continue the trial with reduced sample size - St. Helier , Jersey – Novocure ( NASDAQ : NVCR ) today reported financial results for the quarter ended March 31 , 2021 , highlighting continued commercial strength despite changes in patterns of care in some regions driven by COVID - 19 , as well as continued progress across the company's clinical and product development programs . Novocure is a global oncology company working to extend survival in some of the most aggressive forms of cancer by developing and commercializing its innovative therapy , Tumor Treating Fields ( TTFields ) . TTFields are electric fields that disrupt cancer cell division . First quarter 2021 highlights include : Financial , in millions Net revenues Gross Profit Net income ( loss ) Adjusted EBITDA ( 1 ) Non - financial Active patients at period end ( 2 ) Prescriptions received in period ( 3 ) 2021 Three Months Ended March 31 , 2020 % Change $ $ EA EA EA $ 134,695 $ 108,310 $ 101,828 77,332 32 % ( 4,128 ) $ 3,952 40 % ( 204 ) % $ 21,145 $ 15,064 40 % 3,454 3,095 12 % 1,402 1,409 do do % ( 1 ) Adjusted EBITDA is a non - U.S . GAAP measurement of earnings before interest , taxes , depreciation , amortization and share - based compensation . ( 2 ) An " active patient " is a patient who is receiving treatment under a commercial prescription order as of the measurement date , including patients who may be on a temporary break from treatment and who plan to resume treatment in less than 60 days . ( 3 ) A " prescription received " is a commercial order for Optune or Optune Lua that is received from a physician certified to treat patients for a patient not previously on Optune or Optune Lua . Orders to renew or extend treatment are not included in this total . " Over the last several months , we have made progress across multiple clinical development programs intended to determine Tumor Treating Fields ' optimal use , " said William Doyle , Novocure's Executive Chairman . “ We continued to increase our understanding of the potential benefits of Tumor Treating Fields when used together