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RedHill Biopharma (Nasdaq: RDHL) announced an increase in its public offering to 4,375,000 American Depositary Shares (ADSs) at $8.00 per ADS, aiming for gross proceeds of approximately $35 million. Closing is expected on March 4, 2021. The underwriter, H.C. Wainwright & Co., has an option for an additional 656,250 ADSs. Proceeds will support clinical development, commercialization, acquisitions, and general corporate purposes. The offering is being made under a 'shelf' registration statement effective since August 2019.
RedHill Biopharma (Nasdaq: RDHL) announced new manufacturing agreements with Cosmo Pharmaceuticals for two products: Movantik® and RHB-204. Movantik is RedHill's top-selling product for treating opioid-induced constipation, which affects millions. RHB-204 is in Phase 3 trials as a treatment for pulmonary nontuberculous mycobacterial disease, with market potential exceeding $500 million. These agreements enhance RedHill's supply capabilities and support ongoing strategic collaboration with Cosmo.
On February 17, 2021, RedHill Biopharma Ltd. (Nasdaq: RDHL) announced the dosing of the first patient in its U.S. Phase 2/3 study of RHB-107 (upamostat), targeting symptomatic COVID-19 patients who do not require hospitalization. This investigational drug aims to inhibit viral entry by targeting serine proteases. The study will enroll 310 patients and utilizes innovative home monitoring to enhance safety. RedHill also advances its second COVID-19 candidate, opaganib, for hospitalized patients, with promising efficacy data already reported.
RedHill Biopharma Ltd. (Nasdaq: RDHL) will present at two upcoming virtual conferences: the SVB Leerink 10th Annual Global Healthcare Conference from February 22-26, 2021, with a presentation by CEO Dror Ben-Asher on February 25, and the BIO CEO & Investor Digital Conference from February 16-18, 2021, featuring Guy Goldberg, Chief Business Officer. Webcasts will be available for 30 days on RedHill's website. The company focuses on gastrointestinal and infectious diseases, highlighting drugs like Movantik, Talicia, and Aemcolo.