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Summary of Highlights
RedHill published Q3 financial report on 13 November, 2018 with the following key highlights:
RHB-104 on patients suffering from moderate to severe Crohn's disease: Treatment met its primary endpoint of remission on week 26, however as Crohn's is a chronic disease remission from week 16 up to week 52 is required
Financially, RedHill has enough cash to support its clinical and regulatory activities until mid 2019 ($10 million burn rate per quarter with $43 million in cash).
We maintain our valuation of the company to $157.5 million (NIS 568M) corresponding to a target price ranging between NIS 2.17 and NIS 2.29; a mean of NIS 2.23 ($6.1 per ADS).
About the company - RedHill Biopharma Ltd. ("the Company" and/or "RedHill") is an Israeli publically-traded specialty biopharmaceutical company focused on the development and commercialization of late clinical-stage drugs candidates. The Company's main focus is advanced clinical development and commercialization in the US of orally-administered, proprietary, small molecule drugs for the treatment of gastrointestinal and inflammatory diseases and cancer. RedHill is currently promoting three gastrointestinal products and is advancing multiple clinical programs: three Phase III for gastrointestinal and inflammation indications and multiple Phase II for various indications including multiple myeloma, hepatocellular carcinoma, pancreatic cancer, and irritable bowel syndrome with diarrhea.
About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion
Contact: Kristi Cekani Corporate Communications - Frost & Sullivan, EuropeP: +39.02.4851.6133E: firstname.lastname@example.org://www.frost.com
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SOURCE Frost & Sullivan
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