Shares of NovoCure (NVCR) skyrocketed 28.39% following the medical device company’s announcement of breakthrough quarterly results and an upgraded annual forecast, delivering strong momentum for investors.
The company achieved Q2 net revenue of $183.6 million, marking a 16% increase compared to the corresponding quarter last year. This figure exceeded analyst projections and established a new quarterly benchmark for NovoCure.
The global patient base receiving TTFields therapy expanded 18% year over year, reaching 5,128 active patients. Optune Gio continues as the primary revenue generator with 4,636 active patients, while Optune Lua demonstrated impressive 51% expansion to 207 patients.
For Optune Pax, which targets pancreatic cancer and launched in the United States earlier this year, the company recorded 418 prescriptions during Q2. By June 30, there were 285 active U.S. patients undergoing therapy.
The company’s gross margin expanded to 78%, up from 74% in the year-ago period. This margin enhancement was partially attributed to a $5 million tariff reimbursement and reduced production expenses. Leadership anticipates margins will stabilize in the mid-70% range throughout the remainder of the year.
In a significant profitability milestone, adjusted EBITDA shifted to positive $10.8 million from a $10 million deficit in Q2 2025. Despite this progress, the company recorded a GAAP net loss of $15.7 million, though this represents substantial improvement from the $40 million loss reported one year prior.
Leadership increased its full-year 2026 revenue projection to $710 million–$725 million, raising the previous estimate of $690 million–$710 million. This updated range suggests annual growth between 8% and 11%.
The company also enhanced its adjusted EBITDA forecast, shifting from an anticipated loss of up to $15 million to a new range spanning breakeven to positive $15 million.
NovoCure closed the quarter holding $440.6 million in cash and short-term investments, providing sufficient resources to fund commercial rollouts and continuing clinical studies without requiring immediate capital infusion.
The company secured CE Mark clearance for Optune Pax treating locally advanced pancreatic cancer throughout Europe. Germany is anticipated to serve as the initial European launch territory.
Approximately half of physicians prescribing Optune Pax in the United States have issued just one prescription to date. Transforming these initial adopters into consistent prescribers represents a critical commercial objective the company addressed during its earnings discussion.
Optune Lua, which addresses malignant pleural mesothelioma, now serves 64 patients in Japan following national reimbursement approval granted in March. Individual hospital contracting requirements continue to present obstacles to wider market penetration in that region.
Research and development expenditures decreased 8% year over year to $51 million as the organization reduced clinical trial expenses. NovoCure is also restructuring its LUNAR-2 Phase III trial to achieve approximately $90 million in cost savings through participant reductions and site modifications.
The FDA is anticipated to deliver a regulatory decision during Q4 2026 regarding Optune Maia for treating brain metastases originating from non-small cell lung cancer. The NCCN has previously designated Optune Maia as a Category 2A treatment alternative for limited brain metastases.
Patient enrollment for the Phase 3 KEYNOTE D58 glioblastoma study is projected to finish before the close of 2026.
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