Stock Alert: Will RedHill Biopharma Touch A New High

Shares of RedHill Biopharma Ltd.(RDHL) more than doubled from its 52-week low of $3.26, hit last month.

All pharma companies who are either developing drugs for the new coronavirus or those who are testing their already approved drug for the treatmnet, are seeing their shares moving higher on hopes of achieving the desired results.

Most recently, this Tuesday, RDHL touched its 52-week high of $9.12 on the news of its pipeline drug, opaganib showing clinical improvement in patients with SARS-CoV-2 coronavirus infection.

Preliminary data were positive in all the six patients suffering from moderate-to-severe acute respiratory symptoms related to SARS-CoV-2 infection. They were treated with opaganib in a 14 day comppassionate-use program.

The company has submitted an investigational New Drug Application (NDA) to the FDA to evaluate the safety and efficacy of opaganib in a randomized, double-blind, placebo-controlled Phase IIA study in patients hospitalized with positive SARS-CoV-2 and pneumonia in the U.S.

Clinical studies are also being planned in Israel and Italy.

On April 28, RedHill said its H.pylori drug Talicia has been added to Prime Therapeutics NetResults national formulary.

Wednesday, RDHL was up $0.27 or 3.52% before closing at $7.93.

For comments and feedback contact: editorial@rttnews.com

Business News

Get Access to Premium Stock Alerts with RTT Intelligent Investor.
Editors Pick
Apple is set to open the Apple Tower Theatre in Los Angeles on Thursday. Apple has converted the 94-year old historic downtown LA art deco theatre into a show-stopping retail store or creative hub for the 21st century. This will be the first Apple Store in downtown LA and the 26th location in greater LA. Bea Lydecker's Naturals, Inc. is recalling six Living Free brand dietary supplement products citing undeclared soy lecithin, the U.S. Food and Drug Administration said. According to the agency, the labels declare lecithin but do not declare soy lecithin. Investment banking major Morgan Stanley plans to block employees and clients who are not fully vaccinated against COVID-19 from entering its New York offices, the Financial Times reported citing an internal memo. The policy is expected to come into effect on July 12, and all unvaccinated employees will lose building access from then onwards.
Follow RTT