Stock Alert: RedHill Biopharma Trading Up 11%

(RTTNews) - Shares of specialty biopharmaceutical company RedHill Biopharma Ltd. (RDHL) are rising more than 11% Tuesday morning after the company said its drug candidate Opaganib showed completely inhibited SARS-CoV-2 viral replication in an in vitro model of human lung bronchial tissue.

Opaganib is currently being evaluated in global Phase 2/3 and U.S. Phase 2 clinical studies for the treatment of severe COVID-19 pneumonia.

Opaganib is a first-in-class, orally-administered, sphingosine kinase-2 (SK2) selective inhibitor with dual anti-inflammatory and anti-viral activity that targets a host cell component, unaffected by viral mutation, thus minimizing the likelihood of resistance.

RDHL is currently trading at $8.38. It has traded in the range of $3.26- $10.17 in the past one year.