RedHill Biopharma - Ph III with TALICIA data readout end-2018
In the past few weeks, RedHill has reached several R&D milestones: completion of enrolment for the Phase III TALICIA study for H. pylori infection (data end-2018), advancement to the second stage of the Phase IIa YELIVA study for cholangiocarcinoma, and a positive FDA meeting to discuss BEKINDA for IBS-D (now Phase III-ready). In addition, on 14 August RedHill announced a successful equity raise of $25m gross ($23.5m net), which will be used to fund the company’s ongoing R&D programmes. Our valuation is slightly higher at $432m (NIS1.5bn) but lower on a per share basis $16.9/ADS (NIS6.1/share) after the share issue.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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