initial public offerings (IPOs) trading on American exchanges

Friday, October 2, 2015

Novocure (NVCR) began trading on the Nasdaq on 2 October 2015

  • The oncology company, which has one FDA-approved therapy to treat a form of brain cancer under its belt, opened for trading at $20.16, after pricing 12.5 million shares at $22.
  • This was below the $23 to $24 revised IPO range.
  • CEO Asaf Danziger and Executive Chairman Bill Doyle rang the opening bell at the Nasdaq.

People from Novocure pose at the Nasdaq Market Site in New York, October 2, 2015.

The company markets Optune to treat adults with glioblastoma upon recurrence after chemotherapy. It nabbed that FDA approval in 2011. The real focus now is to move that treatment into first-line use for glioblastoma.

In April, NovoCure submitted a supplement PMA application for the first-line indication, which was granted priority review status by the agency. That designation came in May, starting a 180-day clock for the agency, so a decision should come before year end. The company expects that Optune will become part of the standard-of-care for newly diagnosed and recurrent glioblastoma.

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