Business
Novocure Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Company Update
Full year 2024 net revenues of $605 million and fourth quarter net revenues of $161 million Optune Lua® received FDA approval for the treatment of metastatic
About this update from Novocure Limited
[{"type":"text","content":"\nFull year 2024 net revenues of $605 million and fourth quarter net revenues of $161 million\n\n\nOptune Lua® received FDA approval for the treatment of metastatic non-small cell lung cancer, commercial rollout underway in the U.S.\n\n\nPhase 3 PANOVA-3 trial met primary endpoint, demonstrating statistically significant improvement in overall survival for patients with unresectable, locally advanced pancreatic cancer\n\n\n BAAR, Switzerland--(BUSINESS WIRE)--\nNovocure (NASDAQ: NVCR) today reported financial results for the quarter and full year ended December 31, 2024. 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\n“Entering 2024, our team was focused on three objectives – grow our core business treating glioblastoma, launch in non-small cell lung cancer, and deliver on the promise of our clinical pipeline. I am proud to say we have successfully achieved all three goals,” said Ashley Cordova, CEO Novocure. “2025 is a defining year for Novocure as we enter a new era with a multi-indication platform propelled by positive Phase 3 data in three indications – one FDA-approved and two advancing toward regulatory submission. We believe we are positioned to transform patient outcomes across multiple high-need oncology indications.”\n\n\nFinancial updates for the fourth quarter and full year ended December 31, 2024:\n\n\n\nTotal net revenues for the year were $605.2 million, an increase of 19% year-over-year, primarily driven by continued launch success in France for Optune Gio® for glioblastoma (GBM) and improved approval rates in the U.S., which are now reflected in our revenue baseline. 2025 net revenue growth is expected to reflect growth in Optune Gio active patients. As the GBM business reaches maturity we expect to continue to grow at a low mid-single digit rate this year.\n\n\n\nTotal net revenues for the quarter were $161.3 million, an increase of 21% year-over-year.\n\n\nThe U.S., Germany, France and Japan contributed $107.2 million, $17.4 million, $15.7 million and $8.5 million in quarterly net revenues, respectively, with our other active markets contributing $10.4 million.\n\n\n\nRevenue in Greater China from Novocure’s partnership with Zai Lab totaled $2.0 millio...