Redhill Biopharma Ltd. (RDHL) is having a Monday to remember. Shares are up a whopping 95.17% to $1.29 at the time of publication, with trading volume buzzing at 68.7 million shares. The catalyst? The company's divestment of Talicia to Apotex, a deal structured with cash upfront and milestones that investors clearly like.
Redhill Biopharma Stock Doubles In One Session — Here's Why
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RedHill Biopharma divests Talicia to Apotex, boosting liquidity and funding its commercial growth strategy and RHB-102 development.
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RDHL Stock Jumps After Talicia Divestment To Apotex
RedHill says it's selling Talicia to Apotex for $18 million in upfront cash plus additional milestone payments. The company frames this as a key step in its strategic roadmap to reposition its commercial business toward larger product opportunities and revenue growth.
"This transaction is a pivotal milestone for RedHill. We are converting our 70% stake in Talicia into immediate capital, significantly stronger liquidity and meaningful potential upside, while fully funding the next major step in our commercial business expansion. I want to thank the RedHill team for developing and positioning this important product for success, targeting H. pylori infection, the main cause of gastric cancer and stomach ulcers," said Dror Ben-Asher, RedHill's CEO.
In January, RedHill shared development progress for RHB-102 (Bekinda) in multiple gastrointestinal (GI) indications, including its development via the accelerated FDA 505(b)(2) route, as a once-daily oral ondansetron therapy for GLP-1/GIP receptor agonist therapy-associated GI side effects. RHB-102 is a patent-protected bimodal, immediate and extended-release, once-daily oral formulation of the 5-HT3 antagonist ondansetron.
Despite the big jump, the stock is still sitting 53.8% below its 52-week high, according to market data. So while today's move is impressive, there's a long way to go before RedHill recovers its former glory.
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View all newsStock Market Today: S&P 500, Dow Futures Slip as US-Iran Tensions Flare—WMT, RZLV, FNGR in Focus
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