What's Going On With Redhill Biopharma Stock?

Redhill Biopharma Ltd. RDHL shares are volatile Wednesday, and the stock is up approximately 700% over the last five days.

What To Know:

On Monday, Redhill Biopharma announced that the FDA had granted five years' market exclusivity for its drug, Talicia, on top of three years' exclusivity granted for the approval of Talicia.

Talicia is a first-line therapy prescribed for the eradication of H. pylori, a bacterial infection that affects approximately 35% of the U.S. adult population. Talicia is protected by its broad intellectual property suite to 2034.

Shares of RDHL are moving on heavy trading volume. According to data from Benzinga Pro, more than 67 million shares have been traded in the session, far exceeding the stock's 100-day average volume of 7.133 million shares.

According to data from Benzinga Pro, Redhill Biopharma shares are trading above the stock's 50-day moving average of 50 cents, yet well below its 52-week high of $15.99.

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RDHL Price Action: According to Benzinga Pro, Redhill Biopharma shares are up 18% at $2.69 at the time of publication.

Image: Alexandr Titov from Pixabay