Clal Bio Surges Most in a Month as Unit Gets FDA Approval

Clal Biotechnology Industries Ltd. (CBI) advanced the most in a month after a unit got the U.S. Food and Drug Administration orphan drug status for its DiaPep277 treatment for juvenile diabetes.

The shares of the investment company rose 3.9 percent, the most since April 22, to 12.93 shekels at the 4:30 p.m. close in Tel Aviv.

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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