Israeli Stocks: I.T.G.I. Medical, Mellanox, Redhill Biopharma
Israel’s TA-25 Index retreated for a third day, losing 0.5 percent to 1,325.84 at 11:56 a.m. in Tel Aviv. The gauge has declined 1.2 percent this week.
The following stocks rose or fell today. Symbols are in parentheses.
I.T.G.I. Medical Ltd. (ITGI IT) soared the most in a year, surging 22 percent to 0.442 shekel. The maker of vascular products said use of its pericardium covered stent was shown to be “effective” in treating a patient with angina pectoris.
Mellanox Technologies Ltd. (MLNX) dropped for the first time in four days, falling 2.6 percent to 95.90 shekels. The maker of connectivity products for data centers and storage systems reported a first-quarter net loss of $1.6 million. The median estimate of three analysts was for net income of $825,000, according to data compiled by Bloomberg.
Redhill Biopharma Ltd. (RDHL IT) rose to the highest level since April 6, advancing 3.5 percent to 3.447 shekels. The U.S. Food and Drug Administration granted orphan drug status to the pharmaceutical maker’s RHB-104 drug for treating children with Crohn’s disease who carry the Mycobacterium avium paratuberculosis, or MAP, infection.
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