NVCR shares climbed after reporting $183.6 million in Q2 sales, surpassing estimates of $172.4 million.
Novocure reported second-quarter sales of $183.6 million, a 16% year-over-year increase and above the $172.4 million consensus estimate. The growth was driven by demand for its Optune wearable cancer treatment, which uses electrical fields to disrupt tumor cell division.
In the prior quarter, Novocure faced a setback when its device failed in a brain cancer trial, causing shares to slump. The latest results contrast with that decline, signaling a potential rebound in investor confidence.
Shares rose in response to the earnings beat, reflecting optimism about the company’s growth trajectory.