Redhill Biopharma Has Terminated RHB-204's U.S. Phase 3 Study For Non-tuberculosis Mycobacteria Disease Due To Low Accrual Rate, And A Shift In Company's Resources To Advance Oral RHB-107's Late-Stage Development For COVID-19
Portfolio Pulse from Benzinga Newsdesk
Redhill Biopharma has terminated its RHB-204 U.S. Phase 3 study for non-tuberculosis mycobacteria disease due to low accrual rate. The company will shift resources to advance oral RHB-107's late-stage development for COVID-19 and focus on key pipeline catalysts and revenue-generating product acquisition.
May 22, 2023 | 11:06 am
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Redhill Biopharma terminates RHB-204 Phase 3 study and shifts focus to RHB-107's late-stage development for COVID-19, potentially impacting the company's stock price.
Redhill Biopharma's decision to terminate the RHB-204 Phase 3 study and shift focus to RHB-107's late-stage development for COVID-19 may have mixed effects on the stock price. While the termination of RHB-204 may be seen as a setback, the refocusing of resources on RHB-107 could be viewed as a positive move, given the ongoing demand for COVID-19 treatments. The overall impact on the stock price is uncertain, hence the neutral score.
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