Why Redhill Biopharma Stock Is Moving Higher

Redhill Biopharma Ltd. RDHL shares are trading higher Wednesday after the company was granted a patent for a method for eradicating helicobacter pylori infections in patients regardless of body mass index.

The Details:

Redhill Biopharma shares are moving on above-average trading volume Wednesday. According to data from Benzinga Pro, more than 7.27 million shares have already been traded in the session, compared to the stock’s 100-day average of 9.125 million shares.

In late December, RedHill Biopharma announced that two of its investigational drugs, opaganib and RHB-107 (upamostat)^, demonstrated robust synergistic effect when combined individually with remdesivir (Veklury), in a U.S. Army-funded and conducted Ebola virus in vitro study.

“Opaganib and RHB-107 are both novel, oral, host-directed, small molecule investigational drugs with demonstrated activity against multiple viral targets, including COVID-19, and are expected to be effective against emerging viral variants. This, together with their growing safety and tolerability databases, presents a compelling hypothesis for further study of their potential in treating Ebola virus,” said Reza Fathi, Ph.D., senior vice president of research and development at RedHill.

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RDHL Price Action: According to Benzinga Pro, RedHill Biopharma shares are up 22% at $1.09 at the time of publication.

Image: Emilian Danaila from Pixabay