Shares of NovoCure (NASDAQ:NVCR) soared nearly 6% in pre-market trading on Tuesday, following the company's third quarter earnings report that topped Wall Street expectations.
The oncology company reported a quarterly loss of $0.28 per share, narrower than the $0.33 per share loss that analysts had anticipated. Revenue for the quarter came in at $155.09 million, beating the consensus estimate of $143.95 million and representing a 21.8% increase from the same period last year.
The strong quarterly results were driven by continued adoption of NovoCure's Tumor Treating Fields therapy for various cancer types. The company highlighted increasing demand for its products used to treat malignant pleural mesothelioma and non-small cell lung cancer.
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