For the second successive day the share of pharmaceutical developer Kamada Ltd. (TASE: KMDA) posted strong gains. The company announced today that it will allocate 4.7 million ordinary shares to 13 institutional investors including Meitav Provident and Pension Fund Ltd., Excellence Investments Ltd. (TASE:EXCE), Menorah Mivtachim Holdings Ltd. (TASE: MORA) and Yelin Lapidot.
Consequently, the share rose 5.8%. This followed yesterday's rise of 4% after news of the successful completion of Phase II trials of Kamada's flagship product AAT for the treatment of the respiratory disease bronchiectasis.