Why Novocure Tanked on Thursday
Quarterly earnings aren't providing much of a cure for Novocure (NASDAQ: NVCR). The company, which concentrates on novel cancer-fighting solutions, saw its stock dive by almost 10% on Thursday following the publication of its latest set of results.
In Q2, Novocure took in $133.5 million in revenue, 15% higher than in the same quarter last year. On the bottom line, however, it flipped to a loss of $14.6 million ($0.14) from the $1.7 million net profit of Q2 2020.
Image source: Getty Images.
Source Fool.com