ST. HELIER, Jersey--(BUSINESS WIRE)--Novocure (NASDAQ: NVCR) today reported financial results for the three and six months ended June 30, 2017, highlighting year-over-year and sequential growth in active patients and net revenues. Novocure is an oncology company developing a profoundly different approach to cancer treatment utilizing a proprietary therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. TTFields is an approved treatment for adults with glioblastoma. We believe the mechanism of action of TTFields shows promise for a variety of solid tumors.
Second quarter 2017 highlights include:
| Three months ended | Six months ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2017 | 2016 | % Change | 2017 | 2016 | % Change | ||||||||||||||||||
| Non-financial | |||||||||||||||||||||||
| Prescriptions received in period(1) | 1,059 | 657 | 61 | % | 1,953 | 1,412 | 38 | % | |||||||||||||||
| Active patients at period end(2) | 1,460 | 891 | 64 | % | |||||||||||||||||||
| Financial, in millions | |||||||||||||||||||||||
| Net revenues | $ | 38.4 | $ | 17.9 | 114 | % | $ | 73.3 | $ | 31.0 | 137 | % | |||||||||||
| Net loss | $ | (21.2 | ) | $ | (40.6 | ) | 48 | % | $ | (39.2 | ) | $ | (76.0 | ) | 48 | % | |||||||
| Cash and cash equivalents at the end of period | $ | 80.2 | $ | 80.9 | |||||||||||||||||||
| Short-term investments at the end of period | $ | 104.2 | $ | 120.0 | |||||||||||||||||||
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| (1) | A “prescription received” is a commercial order for Optune that is received from a physician certified to treat patients with Optune for a patient not previously on Optune. Orders to renew or extend treatment are not included in this total. | |
| (2) | An “active patient” is a patient who is on Optune under a commercial prescription order as of the measurement date, including patients who may be on a temporary break from treatment and who plan to resume treatment in less than 60 days. | |
