RedHill Biopharma Ltd (RDHL)

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RedHill Biopharma preliminary Q4 net revenue falls short of estimates

Feb. 17, 2022 10:55 AM ETRedHill Biopharma Ltd. (RDHL)

By: Ravikash, SA News Editor

RedHill Biopharma (RDHL -1.7%) expects Q4 total net revenues to be in the range of $22M to-24M, below the consensus revenue estimate of $24.09M, according to preliminary data.

The company had recorded $21.5M in revenue in Q4 2020.

RedHill expects to have achieved commercial operations breakeven in Q4 and expect profitable commercial operations in 2022 (both non-GAAP EBITDA).

As of Dec. 31, 2021 cash balance was $54.2M, compared to $45.9M as of Dec. 31, 2020.

Record Talicia quarterly new prescriptions, increase of 26.5% vs. Q3 2021, and 78.4% vs. Q4 2020.

Movantik new prescriptions grew by 2.4% vs. Q3 2021 and 4.5% vs. Q4 2020
Substantial decrease in operational and development expenses following implementation of a cost-efficiency plan.

"Strong sales growth momentum in the face of the persistent pandemic environment, coupled with strengthening our salesforce through internal realignment to include 120 customer-facing sales professionals, disciplined cost-control measures and the potential addition of products synergistic to our existing commercial basket, are planned to bring us closer to commercial operations profitability in 2022," said RedHill's CEO Dror Ben-Asher.

The company intends to announce its Q4 and full year 2021 results in the coming weeks.