D Medical's shares have gained 100% since the beginning of the year.
D Medical Industries Ltd. (TASE:DMDC) yesterday published another shelf prospectus, after having already made two offerings so far this year. In January it raised NIS 16 million in an offering to institutional investors, also on the basis of a shelf prospectus. It followed this in July with a private placement of convertible bonds in which it raised NIS 10 million from a number of unnamed investors.
D Medical currently has a market cap of NIS 130.5 million. Its share price has gained 100% since the beginning of the year, largely as a result of the progress of its subsidiary, NiliMEDIX Ltd., which develops insulin pumps. The company has completed the development of the first generation of its multiple-use insulin pump and is awaiting decisions on its applications for CE Mark certification for the device in Europe and approval for it in the US from the US Food and Drug Administration (FDA).
Published by Globes [online], Israel business news - www.globes.co.il - on September 17, 2007
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