Why RedHill Biopharma Shares Are Trading Higher

RedHill Biopharma Ltd. RDHL shares are trading higher after the company published data from the Phase 2 data study of RHB-107.
 

What happened: Redhill Biopharma announced today that its Phase 2 data study of RHB-107, an oral antiviral used to treat COVID-19 patients, met the primary endpoint of safety and tolerability.

This comes with promising efficacy results, including faster recovery from severe COVID-19 symptoms and a 100% reduction in hospitalization due to COVID-19.

“Showing both safety and efficacy signals positively positions RHB-107 as a potentially very useful treatment for COVID-19 outpatients to reduce symptom severity and prevent disease progression and hospitalization,” Medical Director Terry F. Plasse states.

Redhill Biopharma Ltd is a specialty biopharmaceutical company focused on gastrointestinal diseases.

According to data from Benzinga Pro, the stock is up approximately 22%, trading at $0.17 per share at the time of publication.