Redhill Biopharma Terminates Agreement With Movantik Acquisition, Valinor Pharma, And Hcr Redhill, And Received ~$9.9M In Cash And Gained Full Control Over An Additional $0.74M Currently Held In Restricted Account
Portfolio Pulse from Benzinga Newsdesk
Redhill Biopharma has terminated its agreement with Movantik Acquisition, Valinor Pharma, and Hcr Redhill, receiving approximately $9.9 million in cash and gaining full control over an additional $0.74 million held in a restricted account. The termination ends all existing credit ties with the agreement parties, removes the existing lien against Talicia®, and restores control over cash collections to Redhill.
July 22, 2024 | 11:14 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Redhill Biopharma has terminated its agreement with Movantik Acquisition, Valinor Pharma, and Hcr Redhill, receiving $9.9 million in cash and gaining control over an additional $0.74 million. This move ends all existing credit ties, removes the lien against Talicia®, and restores control over cash collections to Redhill.
The termination of the agreement provides Redhill Biopharma with immediate liquidity of $9.9 million and control over an additional $0.74 million. It also removes the lien against Talicia® and restores control over cash collections, which is likely to positively impact the company's financial stability and operational flexibility in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100