Novocure (NSDQ:NVCR) shares took a sharp dip on fourth-quarter results that came up short of the consensus forecast.
NVCR shares were down 12.7% at $63.70 per share in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down 1.3%.
The St. Helier, Jersey-based company posted losses of $26.5 million, or 25¢ per share, on sales of $133.2 million for the three months ended Dec. 31, 2021, for a massive bottom-line slide into the red on a sales decline of 7.5%.
Novocure’s losses per share of 25¢ came in 24¢ behind projections on Wall Street, where analysts were looking for sales of $134.5 million.
Novocure projects revenue growth between 2% and 5% for the full 2022 fiscal year.