Israel-Based Penny Stock RedHill Biopharma Is Trading Higher Today - Here's Why?

RedHill Biopharma Ltd RDHL shares are trading higher after the company said that its oral opaganib shows a significant increase in survival time (at 150 mg/kg twice daily dose) in a U.S. Army-funded in vivo Ebola virus study, making it the first host-directed molecule to show activity in the Ebola virus disease.

"These results represent an alternative strategy of using a host-directed therapeutic with activity in Ebola virus disease in-vivo," said Rekha Panchal, who led the study.

The U.S. Army study tested three doses of opaganib (50, 100, and 150 mg/kg twice daily) against an inactive vehicle control arm. 

The in vivo study results showed a statistically significant survival increase in mean (SE) survival time of 11.2 (2.6) days in the 150 mg/kg opaganib group (p=0.0279) compared to a mean (SE) survival time of 5.5 (0.4) days in the inactive vehicle control group. 

A 30% mice survival was observed in the 150 mg/kg treated group compared to the vehicle control.

Twice daily administered opaganib has previously demonstrated antiviral benefit in late-stage clinical studies of patients hospitalized with moderate to severe COVID-19 and was selected by the NIH Radiation and Nuclear Countermeasures Program for Acute Radiation Syndrome development.

Price Action: RDHL shares are up 16.30% at $0.52 during the premarket session on the last check Tuesday.