Why Novocure Stock Is Sinking Today
Shares of Novocure (NASDAQ: NVCR) are sinking today, down by 15.4% as of 10:44 a.m. ET. The decline came after the company announced its preliminary full-year and fourth-quarter 2022 net revenue numbers.
Novocure said that its total preliminary net revenue for 2022 rose 1% year over year to $537.8 million. Its total preliminary net revenue for Q4 is $128.4 million, down 3.6% from the prior-year period.
Investors were excited last week after Novocure announced good news from a late-stage study of its Tumor Treating Fields (TTFields). The company reported that TTFields met the primary endpoint of the study by improving overall survival in patients with advanced non-small cell lung cancer (NSCLC).
Source Fool.com
