RedHill Biopharma - Continued GI product growth, CD PhIII data in 3M
With its Q118 results, RedHill reported GI product revenues growing by 22% q-o-q to $2.4m in Q118. It also provided updates on its Phase III programmes. The last patient has been assessed against the primary endpoint in the RHB-104 first Phase III trial in Crohn’s disease (CD), and top-line data are expected by August (including) this year. Additionally, more than 70% of patients have been enrolled for the TALICIA confirmatory Phase III trial in H. pylori infection. Management now expects top-line data from this trial in Q418. We value the company at $404.5m (NIS1.5bn) or $19.0/ADS (NIS6.8/share).RedHill Biopharma is a biopharmaceutical company based in Israel. Co. is focused on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drug candidates for the treatment of inflammatory and gastrointestinal diseases, including gastrointestinal cancers. Co. generates its pipeline of therapeutic candidates by identifying, rigorously validating and in-licensing or acquiring products that are consistent with Co.'s products strategy. Co.'s product pipeline consists of eight late clinical development therapeutic candidates, including one therapeutic candidate (RP101) for which Co. has an option to acquire.
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