Why Redhill Biopharma Stock Is Moving Higher
Portfolio Pulse from Erica Kollmann
Redhill Biopharma Ltd. (NASDAQ:RDHL) stock is trading higher after being granted a patent for a method to eradicate helicobacter pylori infections. The stock's volume is above average, with over 7.27 million shares traded compared to the 100-day average of 9.125 million. Additionally, Redhill announced that its investigational drugs, opaganib and RHB-107, showed a synergistic effect with remdesivir in an Ebola virus study. The company's shares have risen 22% to $1.09.
January 24, 2024 | 4:30 pm
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POSITIVE IMPACT
Redhill Biopharma's stock is experiencing a positive movement due to the grant of a new patent and promising study results for its investigational drugs, opaganib and RHB-107, in combination with remdesivir against Ebola.
The grant of a new patent is a significant positive development for Redhill Biopharma, as it strengthens the company's intellectual property portfolio and potential market exclusivity for its treatment. The positive study results for its drugs against Ebola also suggest potential for broader applications beyond COVID-19, which could lead to increased investor interest and a higher stock valuation in the short term.
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