On Thursday, NovoCure Ltd (NASDAQ:NVCR) reported a fourth-quarter loss of 61 cents, down from the 45-cent loss reported a year ago, missing the consensus loss of 34 cents.
Sales increased 21% year over year to $161.27 million, beating the consensus of $157.81 million.
Annual sales reached $605 million, an increase of 19% year-over-year, primarily driven by continued launch success in France for Optune Gio, a wearable, portable, FDA-approved device indicated to treat a type of brain cancer in adult patients 22 years of age or older. Gross margin for the quarter was 79%.
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As of December 31, 2024, there were 4,126 total active patients on TTFields therapy globally, with 4,077 active Optune Gio patients on therapy.
As of December 31, 2024, 20 active metastatic NSCLC patients and 29 active malignant pleural mesothelioma (MPM) patients were on Optune Lua, a wearable, portable, FDA-approved device used together with PD-1/PD-L1 inhibitors (immunotherapy) or docetaxel for adult patients with metastatic non-small cell lung cancer (mNSCLC) who have progressed on or after a platinum-based regimen.
In 2025, Novocure expects gross margins will be impacted by current and future product enhancements, such as the U.S. launch of Head Flexible Electrode (HFE) transducer arrays for use with Optune Gio and the launch of Optune Lua in mNSCLC.
Net revenue growth in 2025 is expected to reflect growth in Optune Gio active patients. As the GBM business reaches maturity, the company expects to continue growing at a low, mid-single-digit rate this year.
Price Action: NVCR stock is down 10% at $19.77 at the last check Thursday.
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