Prolor Soars the Most in 7 Weeks on Growth Hormone Result
Prolor Biotech Inc. (PBTH) surged the most in five weeks in New York after the Israeli drugmaker said research showed its weekly growth hormone injection has the potential to replace a treatment given in seven daily dosages.
Prolor, based in Nes Ziona, Israel, jumped 3.8 percent to $4.90 by the close in New York, the sharpest increase since May 21. The shares are headed for a 15 percent gain in the first half of 2012, compared with an advance of 4 percent for the Standard and Poor’s 500 Pharmaceuticals Index. Prolor’s stock rose 6.7 percent to 19.43 shekels, or the equivalent of $4.93, in Tel Aviv, the largest rise since Jan. 16.
Prolor’s Phase II trial of its hGH-CTP human growth hormone, used to treat growth hormone deficiency in adults, showed that a single weekly injection of the drug has the potential to replace seven daily injections currently being marketed, according to a statement distributed by PRNewswire. The data presented today was an extension of a result that last month showed the weekly injection had comparable outcomes to the similar drug.
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