Redhill Jumps Most in Month After FDA Approves Drug Trial

Redhill Biopharma Ltd. (RDHL) surged the most in more than a 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 8.3 percent, the most since Jan. 3 in intraday trading, to 2.32 shekels at 12:19 p.m. in Tel Aviv, giving the company a market value of 120 million shekels ($32 million).

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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