On April 30, 2026 Novocure (NASDAQ: NVCR) reported financial results for the first quarter that ended March 31, 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).
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
"This was a very strong start to the year for Novocure and we are pleased with the progress made across our commercial and clinical programs," said Frank Leonard, CEO, Novocure. "We reached several key milestones in the first quarter and are eager to maintain this momentum as we approach numerous exciting catalysts later this year. Our focus remains on bringing Tumor Treating Fields therapy to patients diagnosed with some of the most aggressive forms of cancer, further exploring the use of our therapy to benefit patients in need, and achieving sustainable growth and profitability."
Financial updates for the quarter ended March 31, 2026:
Total net revenues for the quarter were $174.1 million, an increase of 12% compared to the same period in 2025. This increase was primarily driven by active patient growth in European markets.
The U.S., Germany, France and Japan contributed $96.0 million, $24.5 million, $22.9 million and $10.2 million, respectively, with other active markets contributing $15.7 million.
Net revenue from Germany benefitted from increased approval rates, including a one-time benefit of $2.5 million.
Net revenue from France benefitted from contract performance improvements, including a one-time benefit of $1 million.
Revenue in Greater China from Novocure’s partnership with Zai Lab totaled $4.8 million.
Recognized revenue from Optune Lua in the quarter was $3.1 million.
Gross margin for the quarter was 78% compared to 75% in the prior year. The increase was primarily driven by lower array costs resulting from improved array utilization and lower supplier prices.
Research, development and clinical study expenses for the quarter were $58.3 million, an increase of 8% from the same period in 2025. This was primarily driven by increased costs associated with patient recruitment in the Phase 3 KEYNOTE D58 clinical trial.
Sales and marketing expenses for the quarter were $58.4 million, an increase of 5% compared to the same period in 2025. This 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 $85.9 million, an increase of 92% compared to the same period in 2025. This increase was primarily driven by a $43 million share-based compensation expense triggered by the U.S. FDA approval of Optune Pax. This non-cash expense is reported in accordance with U.S. GAAP, but the associated grant did not vest and shares were not distributed.
Net loss for the quarter was $71.1 million with loss per share of $0.62.
Adjusted EBITDA* for the quarter was $(0.3) million.
Cash, cash equivalents and short-term investments were $432.0 million as of March 31, 2026.
Operational updates for quarter ended March 31, 2026:
As of March 31, 2026, there were 4,791 total active patients on TTFields therapy globally.
Optune Gio
As of March 31, 2026, there were 4,543 active patients on Optune Gio, an increase of 9% from the same period in 2025.
The U.S., Germany, France and Japan contributed 2,250; 641; 503 and 535 Optune Gio active patients, respectively, with 614 active patients contributed by other active markets.
Optune Lua
As of March 31, 2026, there were 165 active patients on Optune Lua, an increase of 56% from the same period in 2025.
The U.S., Germany, France and Japan contributed 106; 47; 2 and 6 active patients, respectively, with 4 active patients contributed by other active markets.
Optune Pax
169 prescriptions for Optune Pax were received in the quarter.
As of March 31, 2026, there were 83 active patients on Optune Pax in the U.S.
Quarterly updates and achievements:
January 2026
Public health insurers in Czechia announced coverage for Optune Gio for the treatment of adult patients with newly diagnosed glioblastoma (GBM).
February 2026
The U.S. FDA approved Optune Pax for the treatment of adult patients with locally advanced pancreatic cancer concomitant with gemcitabine and nab-paclitaxel.
British Columbia (BC) Cancer announced coverage for Optune Gio for adult patients with newly diagnosed GBM.
March 2026
Japan’s Ministry of Health, Labour and Welfare approved reimbursement for Optune Lua through the country’s National Health Insurance coverage. Optune Lua is approved in Japan for concurrent use with PD-1/PD-L1 inhibitors in adult patients with unresectable advanced/recurrent non-small cell lung cancer (NSCLC) who progressed on or after platinum-based chemotherapy.
Novocure announced the topline results from the Phase 2 PANOVA-4 clinical trial, evaluating TTFields therapy concomitant with atezolizumab (Tecentriq), gemcitabine and nab-paclitaxel as a first-line treatment for metastatic pancreatic cancer. PANOVA-4 met its primary endpoint, achieving a 74% disease control rate (DCR), a statistically significant improvement compared to a 48% DCR in patients treated with gemcitabine and nab-paclitaxel alone in the historical control.
2026 Financial Guidance:
Novocure’s updated guidance for the full year 2026, as of April 30, 2026, is summarized below:
Total net revenue: $690 million – $710 million (previous: $675 million – $705 million)
Adjusted EBITDA*: $(15) million – $0 million (previous: $(20) million – $0 million)
This guidance assumes full-year mid-single digit net revenue growth from Optune Gio, net revenue contribution from Optune Lua and Optune Pax, collectively, between $15 million and $25 million, a mid-70s percent gross margin, and foreign exchange rates as of March 31, 2026.
Anticipated clinical and regulatory milestones:
Topline data from the Phase 3 TRIDENT trial in newly diagnosed GBM (Q2 2026).
Decision by the U.S. FDA on the premarket approval application for use of TTFields therapy for the treatment of brain metastases from NSCLC (Q4 2026).
Complete enrollment in Phase 3 KEYNOTE D58 clinical trial in newly diagnosed GBM (Q4 2026).
Conference call details
Novocure will host a conference call and webcast to discuss first quarter 2026 financial results at 8:00 a.m. EDT today, Thursday, April 30, 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, APR 30, 2026, View Source [SID1234664989])