RedHill Reveals New, Non-Dilutive External Funding Of Entire RHB-107 COVID-19 300-Patient Phase 2 Study
Portfolio Pulse from Benzinga Newsdesk
RedHill Biopharma has secured approximately $4.8 million in non-dilutive external funding for the Phase 2 study of RHB-107, a COVID-19 treatment. The study, which has FDA clearance, will enroll its first patient soon and is expected to be completed by the end of 2024. It will take place in the U.S., Thailand, Ivory Coast, South Africa, and Uganda.
December 04, 2023 | 12:03 pm
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RedHill Biopharma has received $4.8 million in funding for its Phase 2 COVID-19 treatment study, which is FDA approved and will begin enrolling patients shortly.
The non-dilutive nature of the funding means that RedHill Biopharma's existing shareholders will not experience dilution of their shares, which is typically viewed positively by the market. The FDA clearance and imminent patient enrollment are also positive indicators that the study is progressing, which may increase investor confidence in the company's pipeline and potentially lead to a short-term increase in the stock price.
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