Frost & Sullivan Publishes Q3-2018 Update Report on RedHill Biopharma Ltd.: RedHill published additional data from MAP US Phase III study of RHB-104 in Crohn's Disease; Steady-state sales in GI drugs; target price unchanged

Frost & Sullivan Publishes Q3-2018 Update Report on RedHill Biopharma Ltd.: RedHill published additional data from MAP US Phase III study of RHB-104 in Crohn's Disease; Steady-state sales in GI drugs; target price unchanged

PR Newswire

TEL AVIV, Israel, Nov. 23, 2018

Equity Research is published in the framework of the Tel Aviv Stock Exchange (TASE) Analysis Program

TEL AVIV, Israel, Nov. 23, 2018 /PRNewswire/ -- The TASE analysis project was launched in 2016 in order to raise the investors' level of knowledge of TASE listed technology and life-science companies and the markets in which the companies operate, thus creating appropriate pricing and increasing the exposure of investors from Israel and abroad. Its goal is to encourage investments in these companies by removing the barrier of lacking understanding in the market.

In order to maintain professional, independent and unbiased analysis, the companies signed an agreement with the TASE to receive the analysis services for an obligatory period of two years. The companies cannot withdraw from the project during this period. The analysis is funded by the companies surveyed with funding from the Chief Scientist and the TASE.

Summary of Highlights

RedHill published Q3 financial report on 13 November, 2018 with the following key highlights: 

RHB-104 on patients suffering from moderate to severe Crohn's disease: Treatment met its primary endpoint of remission on week 26, however as Crohn's is a chronic disease remission from week 16 up to week 52 is required

Financially, RedHill has enough cash to support its clinical and regulatory activities until mid 2019 ($10 million burn rate per quarter with $43 million in cash).

We maintain our valuation of the company to $157.5 million (NIS 568M) corresponding to a target price ranging between NIS 2.17 and NIS 2.29; a mean of NIS 2.23 ($6.1 per ADS). 

About the company - RedHill Biopharma Ltd. ("the Company" and/or "RedHill") is an Israeli publically-traded specialty biopharmaceutical company focused on the development and commercialization of late clinical-stage drugs candidates. The Company's main focus is advanced clinical development and commercialization in the US of orally-administered, proprietary, small molecule drugs for the treatment of gastrointestinal and inflammatory diseases and cancer. RedHill is currently promoting three gastrointestinal products and is advancing multiple clinical programs: three Phase III for gastrointestinal and inflammation indications and multiple Phase II for various indications including multiple myeloma, hepatocellular carcinoma, pancreatic cancer, and irritable bowel syndrome with diarrhea.

About Frost & Sullivan
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Contact:
Kristi Cekani 
Corporate Communications - Frost & Sullivan, Europe
P: +39.02.4851.6133
E: kristi.cekani@frost.com
http://www.frost.com

 

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