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Elbit Medical Surges to One-Month High on Unit’s Phase I Result

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Jan. 3 (Bloomberg) -- Elbit Medical Technologies Ltd. advanced to the highest in almost a month after a unit reported that a Phase I clinical trial of a system for the treatment of essential tremor produced improvements in patients.

The shares of Elbit, which owns interests in companies that manufacture medical devices, surged 8.4 percent to 0.272 shekel, the highest level since Dec. 7, at 10:59 a.m. in Tel Aviv.

The unit completed the trial using the ExAblate 4000 system for the treatment of essential tremor, a nervous system disorder that causes rhythmic shaking. The test showed that most of the patients treated with the system registered “significant improvement” in tremors without any side effects, the company said in a filing to the Tel Aviv Stock Exchange today.

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