In an April 6, 2012, filing with the U.S. Securities and Exchange Commission, Israel-based PROLOR Biotech, Inc. has registered the sale of common stock on the American Stock Exchange in an amount not to exceed $75 million. The cash will be used to finance clinical trials for its long-lasting human growth hormones. According to a news source, the company has $13 million in cash, but lost $15 million in 2011, double the amount from 2010.
In 2011, the company’s human growth hormone evidently underwent a Phase II clinical trial involving adults, at a cost of $11.9 million. Based on positive results, PROLOR reportedly plans a Phase III clinical trial this year, along with a Phase II pediatric clinical trial. The company also apparently has hemophilia and obesity treatments in its pipeline. See Globes [Online]-Israel Business News, April 8, 2012.