Shares of NovoCure (NVCR 0.11%) are edging higher on Thursday. The company's stock gained 0.11% as of 3:30 p.m. ET after fluctuating between gains and losses throughout the session. This muted reaction comes as the S&P 500 gained 0.3% and the Nasdaq Composite rose 0.6%. Why? The medical technology company reported solid first-quarter results. The company also provided several key updates that investors reacted positively to. NovoCure shared important updates A key highlight from NovoCure's earnings call was the announcement of European CE Mark approval for OptuneLua in the treatment of metastatic non-small cell lung cancer (NSCLC). The CE Mark allows the company to market the device in Europe. OptuneLua, a medical device that emits an electric field disrupting cancer cells, uses NovoCure's core technology. The launch in Europe is an important milestone in the company's international expansion strategy and will help the company drive revenue growth. Investors also received promising news regarding NovoCure's Phase 3 clinical trial for patients with a specific type of pancreatic cancer that is particularly hard to treat. The trial data showed a "meaningful survival benefit" and is the first to do so for this particular cancer. The results mean the company could open another major market for NovoCure's tumor treating technology. The company's revenue growth remains solid NovoCure reported $155 million in net revenue for Q1 2025, representing a 12% increase year over year. This growth was driven by expansion of the company's active patient base, especially in France, Japan, Germany, and the United States. As the company grows, its margins were slightly reduced, from 76% to 75% year over year. The reduction was explained, however, by a lag in reimbursement for some of its treatments. The company is still operating at a loss, however, losing $34 million this quarter. That's not unusual for a company in NovoCure's position, however. As the company launches in Europe and continues to prove its technology is useful in more indications, its revenue could grow considerably. I think the stock is headed in the right direction and is a solid pick for those with an elevated risk tolerance.