RedHill Biopharma - Rapid progress with COVID-19 programme
RedHill’s global Phase II/III programme with opaganib against COVID-19 is progressing rapidly. An ongoing Phase IIa study in the US should complete patient recruitment in August, while in July the international Phase II/III study should start enrolment in several other countries. If these studies are successful, RedHill could file for emergency use as soon as Q420. Extensive preclinical studies describe opaganib’s rather unique mechanism of action. It not only has an anti-viral effect, but can also reduce inflammation in the lungs. This makes it an attractive option in severe COVID-19 cases, where an overactive immune response can worsen the outcomes. We maintain our last published valuation ($593m or $16.5/ADS), but can see potential to expand our R&D model depending on the progress of COVID-19 trials.
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- RedHill Biopharma - Rapid progress with COVID-19 programme24 Jul 2020