Business
Novocure Reports First Quarter 2025 Financial Results
Quarterly net revenues of $155 million, up 12% year-over-year, with 4,268 active patients on therapy as of March 31, 2025 Results from Phase 3 PANOVA-3 trial
About this update from Novocure Limited
[{"type":"text","content":"\nQuarterly net revenues of $155 million, up 12% year-over-year, with 4,268 active patients on therapy as of March 31, 2025\n\nResults from Phase 3 PANOVA-3 trial in pancreatic cancer accepted as late-breaking abstract for presentation at 2025 American Society of Clinical Oncology Annual Meeting\n\nCE Mark approval received for Optune Lua for use concurrently with immune checkpoint inhibitor or docetaxel in adult patients with metastatic NSCLC who have progressed on or after a platinum-based regimen\n\n BAAR, Switzerland--(BUSINESS WIRE)--\nNovocure (NASDAQ: NVCR) today reported financial results for the first quarter ended March 31, 2025. 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).\n\n“This is a period of meaningful momentum for Novocure,” said Ashley Cordova, CEO Novocure. “After years in a single commercial indication, our footprint is expanding across new indications, new centers, and new physician specialties. Our lung launch is progressing. Our pipeline is advancing. And our commitment to patient-forward innovation is stronger than ever. We look forward to updating you on our progress as the year unfolds.”\n\nFinancial updates for the first quarter ended March 31, 2025:\n\n\nTotal net revenues for the quarter were $155.0 million, an increase of 12% compared to the same period in 2024. This increase is primarily driven by active patient growth across our major markets and to a lesser extent from reimbursement improvements.\n\n\nThe U.S., Germany, France and Japan contributed $93.2 million, $18.7 million, $17.9 million and $8.7 million, respectively, with other active markets contributing $11.9 million.\n\n\nRevenue in Greater China from Novocure’s partnership with Zai Lab totaled $4.6 million.\n\n\nRecognized revenue from Optune Lua® in the quarter was $1.5 million, including $0.8 million from malignant pleural mesothelioma (MPM), and $0.7 million from metastatic non-small cell lung cancer (NSCLC).\n\n\n\n\nGross margin for the quarter was 75% compared to 76% in the prior year period.\n\n\nThe reduction of gross margin was primarily driven by the roll out of our HFE arrays and the NSCLC launch, where we are treating on-label patients at risk prior to establishing bro...