RedHill Biopharma Awarded $1.8 Million in Legal Costs and Expenses by New York Supreme Court in Addition to its Prior $8.25 Million Summary Judgment Win

Rhea-AI Summary

RedHill Biopharma (NASDAQ:RDHL) has secured an additional $1.82 million award for legal costs and expenses from the New York Supreme Court, supplementing its previous $8.25 million summary judgment victory against Kukbo Co. Ltd. Both awards include a 9% ongoing statutory interest accrual.

The company has also obtained an attachment grant from Korea's Incheon District Court against Kukbo, enabling court-ordered seizure of Kukbo's assets to prevent disposal before judgment enforcement. While Kukbo has appealed the summary judgment decision, with oral arguments scheduled for September, they retain the right to appeal the latest legal costs award.

Positive

• Awarded additional $1.82 million in legal costs and expenses
• Previous $8.25 million summary judgment remains in place
• Both awards include 9% ongoing statutory interest accrual
• Successful attachment grant in Korea preventing Kukbo from disposing assets

Negative

• Kukbo has appealed the summary judgment decision
• Potential appeal of the legal costs award could delay final resolution

The New York Supreme Court has awarded RedHill approximately $1.82 million in legal costs and expenses following, and in addition to, the Court's prior summary judgment of approximately $8.25 million in favor of RedHill in its action against Kukbo Co. Ltd's ("Kukbo"); the $8.25 million and $1.82 million awards include 9% ongoing statutory interest accrual

RALEIGH, N.C. and TEL-AVIV, Israel, Aug. 20, 2025 /PRNewswire/ -- RedHill Biopharma Ltd. (Nasdaq: RDHL) ("RedHill" or the "Company"), a specialty biopharmaceutical company, today announced that the New York Supreme Court has awarded RedHill approximately $1.82 million in legal costs and expenses (including interest) in its action against Kukbo. The award follows, and is in addition to, the New York Supreme Court's prior summary judgement award of approximately $8.25 million (including interest) in favor of RedHill.

 

9% ongoing statutory interest accrual is applicable to both the original summary judgment and the award of legal costs and expenses.

RedHill also succeeded in its application to Korea's Incheon District Court for an attachment grant against Kukbo. This provides a court-ordered seizure (attachment) of Kukbo's assets, preventing their disposal prior to judgment enforcement.

Kukbo appealed the summary judgment decision on December 4, 2024, and the parties have since completed briefing on that appeal with oral argument tentatively scheduled for the September term.  Kukbo also has a right to seek an appeal of the award of legal costs and expenses.

About RedHill Biopharma
RedHill Biopharma Ltd. (Nasdaq: RDHL) is a specialty biopharmaceutical company primarily focused on U.S. development and commercialization of drugs for gastrointestinal diseases, infectious diseases and oncology. RedHill promotes the FDA approved gastrointestinal drug Talicia^®, for the treatment of Helicobacter pylori (H. pylori) infection in adults^[1]. RedHill's key clinical late-stage development programs include: (i) opaganib (ABC294640), a first-in-class, orally administered sphingosine kinase-2 (SPHK2) selective inhibitor with anti-inflammatory, antiviral, and anticancer activity, targeting multiple indications with U.S. government and academic collaborations for development for radiation and chemical exposure indications such as GI-Acute Radiation Syndrome (GI-ARS), a Phase 2/3 program for hospitalized COVID-19, and a Phase 2 study in prostate cancer in combination with darolutamide; (ii) RHB-204, a next-generation optimized formulation of RHB-104, with a planned Phase 2 study for Crohn's disease (based on RHB-104's positive Phase 3 Crohn's disease study results) and Phase 3-stage for pulmonary nontuberculous mycobacteria (NTM) disease; (iii) RHB-107 (upamostat), an oral broad-acting, host-directed, serine protease inhibitor with potential for pandemic preparedness, is in late-stage development as a treatment for non-hospitalized symptomatic COVID-19 and is also targeting multiple other cancer and inflammatory gastrointestinal diseases; and (iv) RHB-102, with potential UK submission for chemotherapy and radiotherapy induced nausea and vomiting, positive results from a U.S. Phase 3 study for acute gastroenteritis and gastritis and positive results from a U.S. Phase 2 study for IBS-D. RHB-102 is partnered with Hyloris Pharma (EBR: HYL) for worldwide development and commercialization outside North America.

More information about the Company is available at www.redhillbio.com / X.com/RedHillBio.

Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and may discuss investment opportunities, stock analysis, financial performance, investor relations, and market trends. Such statements, including, but not limited to, statements regarding the intended use of net proceeds from the offering, may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words and include statements regarding the risk that the Company will not comply with the listing requirements of the Nasdaq Capital Market ("Nasdaq") to remain listed for trading on Nasdaq, the addition of new revenue generating products, out-licensing of the Company's development pipeline assets, timing of opaganib's development for Acute Radiation Syndrome, non-dilutive development funding from RHB-107 and its inclusion in a key platform study. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control and cannot be predicted or quantified, and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, market and other conditions, the risk that the addition of new revenue generating products or out-licensing transactions will not occur; the risk that the Kukbo appeal is successful; the risk that acceptance onto the RNCP Product Development Pipeline will not guarantee ongoing development or that any such development will not be completed or successful; the risk that the FDA does not agree with the Company's proposed development plans for opaganib for any indication, the risk that observations from preclinical studies are not indicative or predictive of results in clinical trials; the risk that the FDA pre-study requirements will not be met and/or that the Phase 3 study of RHB-107 in COVID-19 outpatients will not be approved to commence or if approved, will not be completed or, should that be the case, that we will not be successful in obtaining alternative non-dilutive development funding for RHB-107, the risk that HB-107's late-stage development for non-hospitalized COVID-19 will not benefit from the resources redirected from the terminated RHB-204 Phase 3 study, that the Phase 2/3 COVID-19 study for RHB-107 may not be successful and, even if successful, such studies and results may not be sufficient for regulatory applications, including emergency use or marketing applications, and that additional COVID-19 studies for opaganib and RHB-107 are likely to be required, as well as risks and uncertainties associated with the risk that the Company will not successfully commercialize its products; as well as risks and uncertainties associated with (i) the initiation, timing, progress and results of the Company's research, manufacturing, pre-clinical studies, clinical trials, and other therapeutic candidate development efforts, and the timing of the commercial launch of its commercial products and ones it may acquire or develop in the future; (ii) the Company's ability to advance its therapeutic candidates into clinical trials or to successfully complete its pre-clinical studies or clinical trials or the development of a commercial companion diagnostic for the detection of MAP; (iii) the extent and number and type of additional studies that the Company may be required to conduct and the Company's receipt of regulatory approvals for its therapeutic candidates, and the timing of other regulatory filings, approvals and feedback; (iv) the manufacturing, clinical development, commercialization, and market acceptance of the Company's therapeutic candidates and Talicia®; (v) the Company's ability to successfully commercialize and promote Talicia® and Aemcolo®; (vi) the Company's ability to establish and maintain corporate collaborations; (vii) the Company's ability to acquire products approved for marketing in the U.S. that achieve commercial success and build its own marketing and commercialization capabilities; (viii) the interpretation of the properties and characteristics of the Company's therapeutic candidates and the results obtained with its therapeutic candidates in research, pre-clinical studies or clinical trials; (ix) the implementation of the Company's business model, strategic plans for its business and therapeutic candidates; (x) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its therapeutic candidates and its ability to operate its business without infringing the intellectual property rights of others; (xi) parties from whom the Company licenses its intellectual property defaulting in their obligations to the Company; (xii) estimates of the Company's expenses, future revenues, capital requirements and needs for additional financing; (xiii) the effect of patients suffering adverse experiences using investigative drugs under the Company's Expanded Access Program; (xiv) competition from other companies and technologies within the Company's industry; and (xv) the hiring and employment commencement date of executive managers. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 20-F filed with the SEC on April 10, 2025. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement, whether as a result of new information, future events or otherwise unless required by law.

Company contact:
Adi Frish
Chief Corporate & Business Development Officer
RedHill Biopharma
+972-54-6543-112
adi@redhillbio.com

Category: Corporate

¹Talicia^® (omeprazole magnesium, amoxicillin and rifabutin) is indicated for the treatment of H. pylori infection in adults. For full prescribing information see: www.Talicia.com.

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SOURCE RedHill Biopharma Ltd.

FAQ

How much was RedHill Biopharma (RDHL) awarded in legal costs by the New York Supreme Court?

RedHill Biopharma was awarded $1.82 million in legal costs and expenses, in addition to their previous $8.25 million summary judgment award.

What interest rate applies to RedHill Biopharma's legal award against Kukbo?

Both the summary judgment and legal costs awards include a 9% ongoing statutory interest accrual.

What action did RedHill secure from Korea's Incheon District Court against Kukbo?

RedHill obtained an attachment grant allowing court-ordered seizure of Kukbo's assets to prevent their disposal before judgment enforcement.

When is Kukbo's appeal of the RDHL summary judgment scheduled for oral argument?

The oral argument for Kukbo's appeal is tentatively scheduled for the September term.

What is the total amount awarded to RedHill Biopharma in the Kukbo case?

The total award amounts to approximately $10.07 million, consisting of an $8.25 million summary judgment and $1.82 million in legal costs, both including 9% statutory interest.