On July 23, 2026 Novocure (NASDAQ: NVCR) reported financial results for the second quarter that ended June 30, 2026. Novocure is a global oncology company working to extend survival in some of the most aggressive forms of cancer by developing and commercializing its innovative therapy, Tumor Treating Fields (TTFields).
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"This was our strongest quarter to date, with record net revenues and active patients on therapy," said Frank Leonard, CEO, Novocure. "We continue to launch our therapies in multiple markets allowing us to bring TTFields therapy to many more patients who can benefit. We are well-positioned to advance our patient-forward mission while driving sustainable growth and making material progress on our path to profitability."
Financial updates for the quarter ended June 30, 2026:
Total net revenues for the quarter were $183.6 million, an increase of 16% compared to the same period in 2025. This increase was primarily driven by active patient growth globally.
The U.S., Germany, France and Japan contributed $103.0 million, $23.3 million, $21.3 million and $11.8 million, respectively, with other active markets contributing $18.2 million.
$2.8 million in net revenue recognized from one-time benefits in the U.S., Germany and France.
Net revenue from Optune Lua and Optune Pax in the quarter was $7.0 million.
Recognized revenue from Optune Lua in the quarter was $5.4 million. The U.S., Germany and Japan contributed $1.9 million, $1.7 million and $1.8 million, respectively.
Recognized revenue from Optune Pax in the quarter was $1.6 million.
Revenue in Greater China from Novocure’s partnership with Zai Lab totaled $6.0 million.
Gross margin for the quarter was 78% compared to 74% in the prior year. Cost of revenues in the quarter benefitted from a one-time $4.9 million tariff refund.
Research, development and clinical study expenses for the quarter were $51.4 million, a decrease of 8% from the same period in 2025. This decrease was primarily driven by lower direct clinical trial expenses from completed trials.
Sales and marketing expenses for the quarter were $61.7 million, an increase of 8% compared to the same period in 2025. This increase was primarily driven by costs associated with the launch of Optune Pax in the U.S. and Optune Lua in Japan.
General and administrative expenses for the quarter were $39.9 million, a decrease of 9% compared to the same period in 2025. This decrease was primarily driven by lower share-based compensation expenses.
Net loss for the quarter was $15.7 million with loss per share of $0.13.
Adjusted EBITDA* for the quarter was $10.8 million.
Cash, cash equivalents and short-term investments were $440.6 million as of June 30, 2026.
Operational updates for the quarter ended June 30, 2026:
As of June 30, 2026, there were 5,128 total active patients on TTFields therapy globally.
Optune Gio
As of June 30, 2026, there were 4,636 active patients on Optune Gio, an increase of 11% from the same period in 2025.
The U.S., Germany, France and Japan contributed 2,341; 637; 471 and 553 active patients, respectively, with 634 active patients contributed by other active markets.
Optune Lua
As of June 30, 2026, there were 207 active patients on Optune Lua, an increase of 51% from the same period in 2025.
The U.S., Germany, France and Japan contributed 99; 38; 1 and 64 active patients, respectively, with 5 active patients contributed by other active markets.
Optune Pax
418 prescriptions for Optune Pax were received in the quarter.
As of June 30, 2026, there were 285 active patients on Optune Pax in the U.S.
Quarterly updates and achievements:
June 2026
Optune Pax received CE (Conformité Européenne) Mark for the treatment of adult patients with locally advanced pancreatic cancer of exocrine origin, concomitant with gemcitabine and nab-paclitaxel (gem/nab-pac) in accordance with guideline recommendations.
2026 financial guidance:
Novocure’s updated guidance for the full year 2026, as of July 23, 2026, is summarized below:
Total net revenue: $710 million – $725 million (previous: $690 million – $710 million)
Guidance includes collective net revenue contribution from Optune Lua and Optune Pax between $20 million – $30 million.
Adjusted EBITDA*: $0 million – $15 million (previous: $(15) million – $0 million)
This guidance assumes full-year mid-to-high single digit net revenue growth from Optune Gio, foreign exchange rates as of June 30, 2026 and consistent quarterly gross margin in the mid-70s percent.
Anticipated clinical and regulatory milestones:
Decision by the U.S. Food and Drug Administration on the premarket approval application for use of TTFields therapy for the treatment of brain metastases from non-small cell lung cancer (Q4 2026).
Complete enrollment in Phase 3 KEYNOTE D58 clinical trial in newly diagnosed glioblastoma (Q4 2026).
Conference call details
Novocure will host a conference call and webcast to discuss second quarter 2026 financial results at 8:00 a.m. EDT today, Thursday, July 23, 2026. To access the conference call by phone, use the following conference call registration link and dial-in details will be provided. To access the webcast, use the following webcast registration link.
The webcast, earnings slides presented during the webcast and the corporate presentation can be accessed live from the Investor Relations page of Novocure’s website, investor.novocure.com, and will be available for at least 14 days following the call. Novocure has used, and intends to continue to use, its investor relations website, as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
(Press release, NovoCure, JUL 23, 2026, View Source [SID1234669407])