Bloomberg News

Redhill Rises Most in a Month as FDA Approves Drug Trial

February 13, 2012

(Updates with closing share price in second paragraph.)

Feb. 12 (Bloomberg) -- Redhill Biopharma Ltd. surged the most in almost one month after the Israeli biopharmaceutical company said it received U.S. Food and Drug Administration approval for a clinical trial of its RHB-102 drug.

The shares jumped 2.8 percent, the most since Jan. 19, to 2.201 shekels at the 5 p.m. close in Tel Aviv, giving the company a market value of 113 million shekels ($30 million).

--Editors: Daliah Merzaban, Shanthy Nambiar

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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