Novocure draws positive financial and operational conclusions for 2022
Root - Novocure has presented a review of 2022 and reported marginal sales growth versus the prior year. The company’s innovative tumor therapy delivered positive results in a study into non-small cell lung cancer. In Europe, Novocure has been awarded the CE mark for glioblastoma patients in addition to securing the relevant authorization for the Canadian market.
Novocure, the global biotechnology company headquartered in Root in the canton of Lucerne, can look back on a positive 2022. The company develops and commercializes an innovative, non-invasive therapy for some of the most aggressive tumor types. The procedure, known as Tumor Treating Fields (TTFields), uses electric fields with specific frequencies in order to disrupt the division of malignant cells. Healthy tissue remains unharmed in the process.
The preliminary financial figures published in a press release indicate that Novocure generated net revenue of 538 million US dollars for the full year 2022, which equates to growth of 1 percent versus the prior year. In the fourth quarter of 2022, net revenue amounted to 128 million US dollars. By far the greatest contribution to net revenue in the fourth quarter came from the USA, at 98.6 million US dollars, while the EMEA states and Japan accounted for shares of 17.0 million and 7.9 million US dollars respectively. Owing to the partnership with Zai Lab, net revenue in Greater China came in at 4.9 million US dollars. As at the reporting date of December 31, 2022, cash, cash equivalents and short-term investments amounted to 969.4 million US dollars.
As at the same reporting date, a total of 3,430 patients were actively being treated by Novocure. Of these, 2,191 were in North America, 870 in the EMEA region and 369 in Japan. In the final quarter of 2022, a total of 1,373 prescriptions were received.
Novocure announced the topline results of its pivotal LUNAR study in non-small cell lung cancer in January 2023. According to the press release, a “statistically significant and clinically meaningful improvement in overall survival” can be determined in patients treated with TTFields in addition to medication. In November 2022, Novocure was awarded the CE mark for this therapy and began treating patients with glioblastoma (GBM). In the same month, Health Canada, the governmental department responsible for national health policy in Canada, approved the drug Optune, which can be used with TTFields, for this indication. Novocure is now working to secure reimbursement for the use of Optune for Canadian patients.
