NovoCure raises $158m in IPO

NovoCure (NSDQ:NVCR) yesterday said it raised $158 million from its initial public offering, after the flotation’s underwriters picked up part of an over-allotment option. NovoCure, which is based in St. Helier, Jersey, an island in the English Channel, makes a tumor-zapping device called Optune. Earlier this month the company won expanded indications from the FDA and a new CE Mark indication in the European Union for Optune. The IPO, of 7.5 million shares at $22 apiece, grossed $165 million. Yesterday NovoCure said the underwriters bought up another 376,195 shares, for gross proceeds of nearly $8.3 million, adding another $7.7 million to the company’s coffers. There still 748,805  shares outstanding on the over-allotment, which is set to expire Oct. 31, NovoCure said. ...

from MedWorm: Mesothelioma http://ift.tt/1W3YZGO