Novocure (NVCR), an oncology company, reported financial results for the first quarter ended March 31, 2026, reflecting 12% revenue growth and lifted revenue guidance for the full year 2026.
Following the news, NVCR is up 22.73% at $14.63.
Company Profile
Novocure develops and commercialises a cancer treatment platform called Tumour Treating Fields (TTFields), a non-invasive therapy that uses electric fields to disrupt cancer cell division.
Novocure's commercialised products are approved in certain countries for the treatment of adult patients with glioblastoma, pancreatic cancer, non-small cell lung cancer, malignant pleural mesothelioma and pleural mesothelioma.
First Quarter Results and Revised 2026 Guidance
Net loss for the quarter expanded to $71.14 million or $0.62 per share from $34.32 million or $0.31 per share in the prior year.
The firm's net revenue increased to $174.05 million from $154.99 million in the prior year, mainly driven by global growth in Optune Gio.
Cash, cash equivalents and short-term investments were $432 million as of March 31, 2026.
Looking ahead to the full year 2026, the firm has raised its total net revenue guidance to $690 million to $710 million, up from the previously announced $675 million to $705 million.
Meanwhile, the firm narrowed its Adjusted EBITDA loss guidance to $15 million to $0 million, compared with $20 million to $0 million previously.
Near-Term Catalysts
Topline data from the Phase 3 TRIDENT trial in newly diagnosed Glioblastoma or GBM evaluating Novocure's Tumour Treating Fields therapy in combination is expected in the second quarter of 2026.
A decision by the FDA on the premarket approval application for TTFields therapy for the treatment of brain metastases from NSCLC is expected in the fourth quarter of 2026.
Novocure plans to complete the Phase 3 KEYNOTE D58 clinical trial in newly diagnosed GBM in the fourth quarter of 2026.
"This was a very strong start to the year for Novocure, and we are pleased with the progress made across our commercial and clinical programs," said Frank Leonard, CEO, Novocure.
NVCR has traded between $9.82 and $20.06 over the last year. The stock closed Wednesday's trade at $11.93
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