Another Israel Pharmaceutical Firm Goes to NASDAQ

Kitov Pharmaceuticals accounted it plans to apply for listing on the NASDAQ exchange, joining Israel-based Teva and Kamada that are traded on Wall Street.

Kitov is hoping for approval from the U.S. Food and Drug Administration (FDA) after its Phase III clinical trial of a combination drug for the treatment of hypertension and pain relief.

The drug has a potential market of $10 billion, and the company’s stock in Israel has climbed almost 10-fold this year.

It also is developing a combination drug for the treatment of osteoarthritis, with the risk of hypertension and other side effects associated with current treatments, Globes reported.