In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Novocure Ltd. (NASDAQ:NVCR), reported that Pomona Capital Vii, L.p. has picked up 9,874,860 of common stock as of 2017-03-23.
The acquisition brings the aggregate amount owned by Pomona Capital Vii, L.p. to a total of 9,874,860 representing a 11.3% stake in the company.
For those not familiar with the company, NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a therapy called TTFields for the treatment of solid tumor cancers. TTFields is a low-toxicity anti-mitotic treatment that uses low-intensity, intermediate frequency, alternating electric fields to exert physical forces on molecules inside cancer cells, disrupting the basic machinery for normal cell division, leading to cancer cell death. A TTFields delivery system includes a portable electric field generator, transducer arrays, rechargeable batteries and accessories. The electric fields are delivered through the non-invasive, insulated transducer arrays that are placed directly on the skin in the region surrounding the tumor. The therapy is designed to be delivered throughout the day and night. The Company has performed various pre-clinical research on TTFields and their effects in multiple solid tumor cancers.
A glance at Novocure Ltd. (NASDAQ:NVCR)’s key stats reveals a current market capitalization of 592.22 Million based on 87.07 Million shares outstanding and a price at last close of $6.90 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-21, Perlhagen picked up 125,000 at a purchase price of $6.93. This brings their total holding to 6,125,000 as of the date of the filing.
On the sell side, the most recent transaction saw Ambrogi unload 7,500 shares at a sale price of $8.09. This brings their total holding to 131,584.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Novocure Ltd. (NASDAQ:NVCR) as things move forward to see if its progress aligns with these transactions.
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