NovoCure Plans To Raise $300 Mln Via Initial Public Offering

NovoCure Ltd. filed papers with the Securities and Exchange Commission on Monday to raise up to $300 million in an initial public offering. NovoCure is a commercial-stage oncology company developing a new treatment of solid tumor cancers known as Tumor Treating Fields. "TTFields is a low-toxicity anti-mitotic treatment that uses low-intensity, intermediate frequency, alternating electric fields to exert physical forces on key molecules inside cancer cells," said the company in the filing. It also warned that investing in its shares carries a "high degree of risk." The underwriters for the IPO are J.P. Morgan, Deutsche Bank Securities, Evercore ISI, Wells Fargo Securities, JMP Securities, and Wedbush PacGrow.