TEL AVIV, Israel, Nov. 23, 2018
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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.
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