Stock Alert: Will RedHill Biopharma Touch A New High

(RTTNews) - Shares of RedHill Biopharma Ltd.(RDHL) more than doubled from its 52-week low of $3.26, hit last month.

All pharma companies who are either developing drugs for the new coronavirus or those who are testing their already approved drug for the treatmnet, are seeing their shares moving higher on hopes of achieving the desired results.

Most recently, this Tuesday, RDHL touched its 52-week high of $9.12 on the news of its pipeline drug, opaganib showing clinical improvement in patients with SARS-CoV-2 coronavirus infection.

Preliminary data were positive in all the six patients suffering from moderate-to-severe acute respiratory symptoms related to SARS-CoV-2 infection. They were treated with opaganib in a 14 day comppassionate-use program.

The company has submitted an investigational New Drug Application (NDA) to the FDA to evaluate the safety and efficacy of opaganib in a randomized, double-blind, placebo-controlled Phase IIA study in patients hospitalized with positive SARS-CoV-2 and pneumonia in the U.S.

Clinical studies are also being planned in Israel and Italy.

On April 28, RedHill said its H.pylori drug Talicia has been added to Prime Therapeutics NetResults national formulary.

Wednesday, RDHL was up $0.27 or 3.52% before closing at $7.93.