NVCR - NovoCure shares fall after Q2 earnings miss

NovoCure (NASDAQ:NVCR) shares slide more than 4% premarket after the company posted second-quarter results that missed Wall Street estimates, hurt my a rise in research and development expenses during the period. Quarterly revenue rose 15% to $133.5M, but fell short of analysts' average estimate by $8.34M. Research, development and clinical trials expenses for the three months ended June 30, 2021 were $50.3M compared to $29.9M for the same period last year. The rise in R&D expenses was primarily due to an increase in clinical trial and personnel expenses for the company's late-stage pivotal, post-marketing and label expansion trials. Gross margin in the quarter was 79% vs 78% for the same period last year. General and administrative expenses for quarter were $32.8M compared to $25.4M last year. Net loss for the quarter was $14.6M compared to net income of $1.7M in the year-ago period. At June 30, 2021, the company had $899M in

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NovoCure shares fall after Q2 earnings miss