Take note of This News: NovoCure Limited (NASDAQ: NVCR)

On Wednesday, NovoCure Limited stock identified change of 247.54% away from 52-week low price and recently located move of -8.38% off 52-week high price. It has market worth of $8783.47M. NVCR stock has been recorded 17.56% away from 50 day moving average and 39.77% away from 200 day moving average. Moving closer, we can see that shares have been trading 17.05% off 20-day moving average.

Novocure (NVCR) recently stated financial results for the three and nine months ended September 30, 2019, highlighting strengthening financial performance, multiple levers to drive near-term growth and building momentum for the Tumor Treating Fields platform. Novocure is a global oncology company working to extend survival in some of the most aggressive forms of cancer through the development and commercialization of its innovative therapy, Tumor Treating Fields.

Third quarter 2019 operating statistics and financial update

There were 2,751 active patients at September 30, 2019, representing 22% growth versus September 30, 2018, and one percent growth versus June 30, 2019. The increase in active patients was driven primarily by the ongoing benefit from continued growth in Optune prescriptions for patients with newly diagnosed GBM and by prescription growth in EMEA and Japan.

  • In the United States, there were 1,860 active patients at September 30, 2019, representing 16% growth versus September 30, 2018.
  • In Germany and other EMEA markets, there were 731 active patients at September 30, 2019, representing 26% growth versus September 30, 2018.
  • In Japan, there were 160 active patients at September 30, 2019, representing 132% growth versus September 30, 2018.

Additionally, 1,319 prescriptions were received in the three months ended September 30, 2019, representing six percent growth contrast to the same period in 2018, and a three percent decrease contrast to the three months ended June 30, 2019. The number of prescriptions for patients with newly diagnosed GBM continued to grow. In the three months ended September 30, 2019, 1,076 prescriptions were received for patients with newly diagnosed GBM, 82% of the total.

  • In the United States, 917 prescriptions were received in the three months ended September 30, 2019, representing one percent growth to the same period in 2018.
  • In Germany and other EMEA markets, 318 prescriptions were received in the three months ended September 30, 2019, representing ten percent growth contrast to the same period in 2018.
  • In Japan, 84 prescriptions were received in the three months ended September 30, 2019, representing 75% growth contrast to the same period in 2018.

For the three months ended September 30, 2019, net revenues were $92.1M, representing 42% growth versus the same period in 2018. Revenue growth was primarily driven by a raise of 499 active patients in our presently active markets, representing 22% growth, and a sustained improvement in the net revenues booked per active patient.

Cost of revenues was $22.9M contrast to $18.9M for the same period in 2018, representing a raise of 21%. The increase in cost of revenues was primarily Because of the cost of shipping transducer arrays to a higher volume of commercial patients partially offset by a reduction in the cost of goods per active patient driven by ongoing efficiency initiatives and scale. Gross margin was 75% contrast to 71% for the same period in 2018.

Research, development and clinical trials expenses were $18.8M contrast to $13.1M for the same period in 2018, representing a raise of 44%. This was primarily Because of a raise in clinical trial and personnel expenses for our phase 3 pivotal trials and a raise in costs associated with medical affairs, regulatory matters and engineering.

Sales and marketing expenses were $23.8M contrast to $19.1M for the same period in 2018, representing a raise of 25%. This was primarily Because of increased marketing expenses and personnel costs to support our growing commercial business.

General and administrative expenses were $22.7M contrast to $18.9M for the same period in 2018, representing a raise of 20%. This was primarily Because of a raise in personnel costs and a raise in professional services.

Net income was $1.9M, or $0.02 per share, contrast to net loss of $11.7M for the same period in 2018, or $0.13 per share.

At September 30, 2019, we had $208.0M in cash and cash equivalents and $104.6M in short-term investments, for a total balance of $312.6M in cash, cash equivalents and short-term investments.

The Healthcare sector company, NovoCure Limited noticed change of 2.25% to $90.43 along volume of 1276755 shares in recent session compared to an average volume of 753.85K. The stock observed return of 11.39% in 5 days trading activity. The stock was at 25.93% over one-month performance. NVCR’s shares are at -6.39% for the quarter and driving a 214.54% return over the course of the past year and is now at 170.10% since this point in 2018.   The average volatility for the week at 3.48% and for month was at 4.71%. There are 97.13M shares outstanding and 81.58M shares are floated in market. Right now, the stock beta is 2.35.

 

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