Market Performance - The Tel Aviv Stock Exchange saw an increase on Friday, with the Tel Aviv 35 Index rising by 0.65% to 4,128.36 points, and the Tel Aviv 125 Index increasing by 0.51% to 4,074.84 points [1] - The BlueTech Global Index rose by 0.16% to 662.06 points, while the All Bond corporate bond index fell by 0.06% to 422.12 points [1] - Total turnover in equities reached NIS 7.91 billion, and NIS 2.19 billion in bonds [1] - The Tel Aviv 35 Index experienced a 3.1% increase during February, contrasting with a 2.5% decline in the Tel Aviv 90 Index [1] Foreign Exchange Rates - The shekel-dollar rate was set 0.386% higher at NIS 3.122/$, and the shekel-euro rate increased by 0.411% to NIS 3.688/€ [2] Notable Stock Movements - Tower Semiconductor Ltd. led the market with a 1.51% increase, accompanied by Nova Ltd. rising 2.66% and Elbit Systems Ltd. increasing by 2.52% [3] - Next Vision saw the largest rise on the Tel Aviv 35 Index with a 4.71% increase [3] - Bank Leumi and Bank Hapoalim rose by 2.17% and 2% respectively, while Nice and Teva Pharmaceutical Industries increased by 1.17% and 0.57% [3] Declines in Stock Prices - Ormat Technologies Inc. experienced the largest decline on the Tel Aviv 35 Index, falling by 4.43% [4] - Enlight Renewable Energy fell by 2.23%, Delek Group decreased by 2.68%, and NewMed Energy dropped by 3.51% [4]

Market Performance - The Tel Aviv Stock Exchange experienced an overall increase, with the Tel Aviv 35 Index rising by 0.52% to 4,232.11 points, the Tel Aviv 125 Index increasing by 0.71% to 4,202.67 points, and the BlueTech Global Index up by 0.75% to 678.20 points [1] - The All Bond corporate bond index saw a slight increase of 0.09% to 424.57 points, with total turnover in equities reaching NIS 5.03 billion and NIS 1.44 billion in bonds [1] Currency Exchange Rates - The shekel-dollar exchange rate was set 0.415% lower at NIS 3.123/$, while the shekel-euro rate decreased by 0.488% to NIS 3.674/€ [2] Notable Stock Movements - Bank Leumi led the market decline, falling by 1.63%, followed by Bank Hapoalim down 0.94%, Mizrahi Tefahot Bank down 1.45%, and Israel Discount Bank down 0.25% [2] - OPC Energy recorded the largest drop on the Tel Aviv 35 Index, decreasing by 2.28% [2] - Next Vision achieved the largest increase on the Tel Aviv 35 Index, rising by 6.04%, while Enlight Renewable Energy rose by 1.09%, Elbit Systems by 3.20%, Nice by 5.41%, and Teva Pharmaceutical Industries by 0.85% [3] - Outside the Tel Aviv 35 Index, Israel Canada rose by 7% and Acro Real Estate increased by 4.89% following their merger [3]

Core Insights - Duvakitug, an investigational human monoclonal antibody targeting TL1A, has shown durable clinical and endoscopic efficacy in patients with ulcerative colitis (UC) and Crohn's disease (CD) over a 44-week maintenance period following initial response in the induction phase [1][7] - The study results indicate that duvakitug has the potential to be a leading therapy for inflammatory bowel disease (IBD), with ongoing phase 3 studies to further evaluate its efficacy and safety [2][4] Study Details - The RELIEVE UCCD long-term extension study enrolled 130 patients who had responded to duvakitug in the induction study, with a maintenance period of 44 weeks where patients received either 450 mg or 900 mg doses every four weeks [2][12] - At week 44, 58% of patients on the 900 mg dose and 47% on the 450 mg dose achieved clinical remission in UC, while 55% on the 900 mg dose and 41% on the 450 mg dose achieved endoscopic response in CD [8] Safety and Tolerability - Both doses of duvakitug were well tolerated, with the most common adverse events being upper respiratory tract infection, nasopharyngitis, Crohn's disease, and hypertension, consistent with findings from the induction study [3][7] Industry Context - IBD is characterized by chronic inflammation of the gastrointestinal tract, with approximately 4.9 million cases globally, and the incidence is rising in several regions [5] - There is currently no cure for IBD, and treatment aims to induce and maintain remission while preventing flares [9]

Core Insights - Alvotech announced positive top-line results from a pharmacokinetic study for AVT80, a biosimilar candidate to Entyvio, meeting all primary endpoints [1][2][3] Study Details - The pharmacokinetic study (AVT80-GL-P01) was a randomized, double-blind, single-dose, parallel-group design involving healthy adult participants, aimed at demonstrating PK similarity and assessing safety, tolerability, and immunogenicity profiles of AVT80 compared to Entyvio after a single 108 mg subcutaneous injection [2][4] - The study results support the demonstration of clinical similarity for both AVT80 and AVT16, another proposed biosimilar to Entyvio for intravenous administration [4] Market Context - Entyvio (vedolizumab) is used for treating moderate to severe Ulcerative Colitis and Crohn's disease, with combined net revenues of approximately US$6.4 billion in 2025 [5] - Alvotech aims to be a global leader in the biosimilar market, focusing on high-quality, cost-effective products, with a pipeline that includes nine disclosed biosimilar candidates targeting various diseases [8] Company Overview - Alvotech specializes in the development and manufacture of biosimilar medicines, with two biosimilars already approved and marketed globally [8] - The company has established strategic commercial partnerships to enhance its market reach across the United States, Europe, Japan, China, and other regions [8]

Market Overview - The Tel Aviv Stock Exchange remained flat, with the Tel Aviv 35 Index reaching a new record of 4,009.36 points, up by 0.09% [1] - The Tel Aviv 125 Index decreased by 0.06% to 4,026.22 points, while the BlueTech Global Index increased by 0.27% to 725.83 points [1] - The All Bond corporate bond index rose by 0.10% to 423.01 points, with total turnover of NIS 3.70 billion in equities and NIS 6.43 billion in bonds [1] Currency Exchange Rates - The shekel-dollar exchange rate was set at NIS 3.104/$, reflecting a decrease of 1.052% from Monday [2] - The shekel-euro exchange rate was set at NIS 3.697/€, down by 0.559% [2] Top Performers - Next Vision (TASE: NXSN) led the market with a rise of 5.1%, achieving the highest trading turnover on the Tel Aviv 35 index [3] - Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) increased by 1.43%, and Nova Ltd. (Nasdaq: NVMI; TASE: NVMI) rose by 2.32% [3] - Bank Hapoalim (TASE: POLI) and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) saw increases of 0.44% and 0.46%, respectively [3] Underperformers - Menora Mivtachim Holdings (TASE: MMHD) experienced the largest decline on the Tel Aviv 35 index, falling by 3.26% [4] - Clal Insurance Enterprise Holdings (TASE: CLIS) decreased by 2.16%, while Nice (Nasdaq: NICE; TASE: NICE) fell by 2.40% [4] - Bank Leumi (TASE: LUMI) saw a decline of 0.53%, and Energean plc (LSE: ENOG; TASE: ENOG) fell by 3.68% outside of the Tel Aviv 35 index [4]

Market Performance - The Tel Aviv Stock Exchange experienced a rise, with the Tel Aviv 35 Index increasing by 1.16% to 3,738.33 points, marking a new record [1] - The Tel Aviv 125 Index rose by 1.64% to 3,794.16 points, and the BlueTech Global Index increased by 2.30% to 658.99 points [1] - The All Bond corporate bond index rose by 0.54% to 423.54 points, with total turnover reaching NIS 5.91 billion in equities and NIS 6.84 billion in bonds [1] Currency Exchange Rates - The shekel-dollar rate was set 0.723% lower at NIS 3.203/$, while the shekel-euro rate decreased by 1.153% to NIS 3.688/€ [2] Sector Performance - Construction stocks saw significant gains following the Bank of Israel's interest rate cut, with YH Dimri Construction and Development rising by 11.9%, the largest increase on the market [3] - Shapir Engineering and Industry rose by 9.62%, while Elbit Systems Ltd. increased by 5.27% after securing a $150 million contract in Europe [3] - Chip companies Camtek and Nova Ltd. rose by 11.61% and 11.72% respectively [3] Banking Sector - The banking sector faced declines after the unexpected interest rate cut by the Bank of Israel, with Bank Leumi falling by 2.20% and Bank Hapoalim decreasing by 2.35% [4] - Navitas Petroleum experienced the largest drop on the Tel Aviv 35 Index, falling by 4.88%, while Next Vision and Teva Pharmaceutical Industries Ltd. fell by 2.65% and 2.82% respectively [4]

Market Overview - The Tel Aviv Stock Exchange (TASE) experienced a rise on the last day of Sunday trading, with the Tel Aviv 35 Index increasing by 0.43% to 3,618.80 points, and the Tel Aviv 125 Index rising by 0.56% to 3,647.25 points [1] - The BlueTech Global Index rose by 0.93% to 624.09 points, while the All Bond corporate bond index increased by 0.05% to 420.08 points [1] - Total turnover reached NIS 2.14 billion in equities and NIS 2.22 billion in bonds [1] Currency Exchange Rates - The representative shekel-dollar rate was set 0.157% lower at NIS 3.186/$, and the shekel-euro rate was set 0.242% lower at NIS 3.757/€ [2] Top Gainers - Bezeq Israel Telecommunications Company Ltd. saw the largest increase on the Tel Aviv 35 Index, rising by 3.19% [3] - Other notable gainers included Elbit Systems Ltd. with a rise of 2.15%, Teva Pharmaceutical Industries Ltd. increasing by 1.20%, Melisron Ltd. up by 2.39%, NewMed Energy rising by 2.27%, and Camtek increasing by 1.89% [3] Top Losers - YH Dimri Construction and Development experienced the largest decline on the Tel Aviv 35 Index, falling by 2.95% [4] - Other significant declines included Shufersal Ltd. down by 2.34%, Migdal Insurance and Financial Holdings down by 2.57%, and Bank Hapoalim leading the market with a fall of 0.85% [4] - Mizrahi Tefahot Bank fell by 1.05%, and Bank Leumi decreased by 0.61% [4] - Outside the Tel Aviv 35 Index, El Al Israel Airlines Ltd. fell by 2.22% [4]

Core Viewpoint - Sagimet Biosciences has entered into a license agreement with TAPI Technology & API Services to develop a fixed-dose combination product targeting metabolic dysfunction-associated steatohepatitis (MASH) [1][2][4] Group 1: License Agreement Details - The agreement grants Sagimet a global, exclusive license to innovative forms of TAPI's resmetirom active pharmaceutical ingredient (API) for technical evaluation and manufacture [2][7] - Sagimet plans to develop a fixed-dose combination product containing denifanstat and resmetirom, with pending patent applications covering both the FDC and innovative resmetirom forms [2][7] Group 2: Clinical Trials and Development Plans - Sagimet has initiated a Phase 1 pharmacokinetic (PK) trial for the combination of denifanstat and resmetirom, with topline data expected by the end of 2025 [3][7] - If the Phase 1 trial results are positive, Sagimet aims to advance the combination into Phase 2 trials for F4 patients with MASH, estimated to start in the second half of 2026 [3][4] Group 3: Company Statements and Insights - The CEO of Sagimet emphasized the importance of the Phase 1 trial and the potential for a synergistic combination of therapies to improve clinical outcomes for patients with liver cirrhosis [4] - TAPI's CEO expressed excitement about the collaboration, highlighting TAPI's expertise in API development and the high medical need for therapies targeting liver cirrhosis [5] Group 4: Background on MASH - MASH is a severe liver disease affecting over 265 million people globally, characterized by fat accumulation in the liver and associated with inflammation and fibrosis [10] - There are currently no approved treatments for MASH cirrhosis (F4), indicating a significant unmet medical need in this area [10]

Market Overview - The Tel Aviv Stock Exchange experienced a decline, with the Tel Aviv 35 Index falling by 0.51% to 3,595.63 points, the Tel Aviv 125 Index decreasing by 0.69% to 3,606.96 points, and the BlueTech Global Index dropping by 0.90% to 600.38 points [1] - The All Bond corporate bond index saw a slight increase of 0.06% to 417.88 points, with total turnover reaching NIS 3.62 billion in equities and NIS 3.22 billion in bonds [1] Foreign Exchange Market - The shekel-dollar exchange rate was set 0.219% higher at NIS 3.209/$, while the shekel-euro rate increased by 0.343% to NIS 3.769/€ [2] Top Performers - Bank Hapoalim led the market with a rise of 0.80% and the highest trading turnover [3] - NextVision recorded the largest increase on the Tel Aviv 35 Index, rising by 3.56% [3] - Teva Pharmaceutical Industries Ltd. increased by 0.83%, Tower Semiconductor Ltd. rose by 0.47%, and Migdal Insurance & Financial Holdings saw a rise of 2.66% [3] Underperformers - Delek Group experienced the largest decline on the Tel Aviv 35 Index, falling by 3.19%, along with its energy exploration and production unit NewMed Energy, which fell by 1.90% [4] - Bank Leumi decreased by 1.73%, Israel Discount Bank fell by 1.44%, Phoenix Finance dropped by 1.52%, and Elbit Systems Ltd. saw a decline of 1.02% [4]

Market Performance - The Tel Aviv Stock Exchange saw a rise today, with the Tel Aviv 35 Index increasing by 1.14% to 3,506.55 points and the Tel Aviv 125 Index rising by 0.70% to 3,535.70 points [1] - The BlueTech Global Index, however, fell by 0.16% to 600.50 points, and the All Bond corporate bond index decreased by 0.01% to 418.12 points [1] - Total turnover in equities reached NIS 3.77 billion, while bonds totaled NIS 3.48 billion [1] Currency Exchange Rates - The representative shekel-dollar rate increased by 0.248% to NIS 3.237/$, and the shekel-euro rate rose by 0.345% to NIS 3.780/€ [2] Notable Stock Movements - Camtek experienced the largest increase on the Tel Aviv 35 Index, rising by 3.08%, followed by Tower Semiconductor at 2.45%, Elbit Systems at 2.55%, and Teva Pharmaceutical at 2.97% [2] - Bank Hapoalim led the market with a rise of 2.29% and the highest trading turnover, while Bank Leumi increased by 2.14%, Mizrahi Tefahot Bank by 0.91%, and Israel Discount Bank by 1.43% [3] - YH Dimri Construction & Development saw the largest decline on the Tel Aviv 35 Index, falling by 2.99%, with Clal Insurance down by 2.08% and Enlight Renewable Energy down by 1.70% [3]