NVCR - Why Novocure Stock Was Sick Today
2023-10-26 16:35:22 ET
Oncology-focused healthcare company Novocure (NASDAQ: NVCR) wasn't much of a cure for anyone's ill finances on Thursday. Its share price dived by nearly 8% on the day after management released its latest set of quarterly results. That decline was notably steeper than the 1.2% dip of the benchmark S&P 500 index.
For its third quarter, Novocure collected total revenue of slightly over $127 million. That represented a year-over-year decline of 3%, and missed the consensus analyst estimate of almost $129 million.
As for the bottom line, the healthcare company's net loss amounted to $49.5 million, or $0.46 per share. While this bettered the average prognosticator forecast of a $0.53-per-share loss, it was nearly double the $26.6 million shortfall in the same quarter of 2022.
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Why Novocure Stock Was Sick Today