OphthaliX has begun patient enrolment for a Phase III clinical trial of its drug for the treatment of dry-eye syndrome.
Can-Fite BioPharma Ltd. (TASE:CFBI) today changed the name of its US subsidiary Denali Concrete Management Inc. (Bulletin Board: DCMG) to OphthaliX Inc.
OphthaliX also announced that it has begun patient enrolment for a Phase III clinical trial to test the safety and efficacy of CF101 for the treatment of dry-eye syndrome.
In November, CanFite acquired 82% of the US stock market shell and transferred its ophthalmology drug development operations, specifically its CF101 drug for the treatment of dry-eye syndrome, glaucoma, and uveitis. OphthaliX's share price has risen 423% since the takeover, reaching $1.53 yesterday, giving a market cap of $70 million.
Can-Fite's share price fell 0.6% by mid-afternoon today to NIS 0.47, giving a market cap of NIS 114 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 21, 2011
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