Novocure Q1 2023: Revenue down 11% to $122M, net loss $53.1M, prescriptions up 8%

NovoCure Ltd

2023-Q1 EPS reported -$0.50 revenue$122,182,000

Total net revenues $122.2M (-11% YoY); US $85.2M, Germany $15.1M, Japan $8.7M.
Net loss $53.1M ($0.50 loss per share); adjusted EBITDA -$18.4M.
Prescriptions received 1,496 (+8% YoY); active patients 3,467 as of March 31.
R&D expenses +41% to $59.7M on clinical trial activity; sales & marketing +35%.
Phase 3 LUNAR NSCLC data to be presented at ASCO June 6; METIS enrollment completed, data Q1 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NovoCure Ltd reported quarter ended March 31, 2023 results: revenue $122.2 million, net income $53.1 million, EPS $0.50.

Period: quarter ended March 31, 2023
Revenue: $122.2 million
Net income: $53.1 million
EPS: $0.50
Result: reported results

Exact text from the filing

Financial updates for the first quarter ended March 31, 2023: • Total net revenues for the quarter were $122.2 million, a decrease of 11% compared to the same period in 2022. ◦ The United States, Germany and Japan contributed $85.2 million, $15.1 million and $8.7 million in quarterly net revenues, respectively, with our other active markets contributing $7.9 million. ◦ Revenue in Greater China from Novocure’s partnership with Zai Lab totaled $5.3 million. • Gross margin for the quarter was 76%. • Research, development and clinical studies expenses for the quarter were $59.7 million, an increase of 41% from the same period in 2022. This primarily reflects increased clinical trial and personnel costs associated with the PANOVA-3 and METIS clinical trials. Total clinical trial expenses can fluctuate quarter-to-quarter dependent upon the amount of clinical research organization services delivered, clinical materials procured and number of trials actively underway. • Sales and marketing exp

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Source: SEC EDGAR

accession 0001645113-23-000038

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