RedHill Biopharma Ltd (RDHL)

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Redhill Biopharma Issues 2018 Business Update; Expects Revenue Growth
MT NEWSWIRES 6:36 AM ET 4/9/2018

07:36 AM EDT, 04/09/2018 (MT Newswires) -- Redhill Biopharma(RDHL) , a late clinical-stage developer of drugs for gastrointestinal diseases and cancer, Monday provided a 2018 business update.

The company said top-line results from the ongoing phase 3 study with RHB-104 for Crohn's disease are expected in mid-2018. Enrollment of all 331 subjects in the study has been completed and the last patient to reach the primary endpoint assessment (remission at week 26) is expected by early May 2018.

Also, top-line results from the ongoing confirmatory phase 3 study of the drug Talicia for H. pylori infections are expected in H2. To date, 60% out of a planned total of 444 subjects have been enrolled in the study.

Redhill said it and Salix recently amended their 2014 worldwide license agreement relating to the RHB-106 encapsulated bowel cleanser, as well as additional related rights, with enhancements for Redhill.

Redhill said it expects continued quarterly revenue growth and noted Q4 revenues were $2 million, an increase of 31% over Q3. RedHill said its sales force of 40 sales representatives is calling on thousands of gastroenterologists in the US.

The company said it expects continued cost reduction in 2018, with cash to be used in operating activities gradually decrease to $8.5 million per quarter during 2018. RedHill's cash position was approximately $46 million at the end of 2017, with no debt.

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