NVCR - Novocure slips 5% as Q1 earnings miss expectations

Novocure (NVCR) shares are down 4.9% in premarket trading after the company delivered disappointing Q1 results.Novocure missed on both revenues and EPS.The company had a net loss of $4.1M in the quarter compared to net income of $4M in the prior-year period.Revenue of $134.7M, however, was up 32.3% year-over-year.Revenue in China was up 237% to $5.5M year-over-year.Novocure had 3,454 active patients at the end of the quarter, an increase of 12% from the end of Q1 2020.In Q2, the company anticipates full data from the phase 2 pilot HEPANOVA trial examining Tumor Treating Fields in advanced liver cancer.Also this quarter, Novocure is expecting a FDA response to a supplement incorporating recommended protocol changes to the phase 3 pivotal LUNAR trial in non-small cell lung cancer.

For further details see:

Novocure slips 5% as Q1 earnings miss expectations