RedHill Biopharma Ltd (RDHL)

[midastouch017]

RedHill GAAP EPS of -$0.21 beats by $0.78, revenue of $85.76M misses by $2.14M

Mar. 17, 2022 8:08 AM ETRedHill Biopharma Ltd. (RDHL)

By: Niloofer Shaikh, SA News Editor

RedHill press release (NASDAQ:RDHL): FY GAAP EPS of -$0.21 beats by $0.78.

Revenue of $85.76M (+33.3% Y/Y) misses by $2.14M.

Micha Ben Chorin, Chief Financial Officer at RedHill, added: "We have realigned focus within our 120-person strong customer-facing sales team in the U.S., providing even greater sales emphasis. In addition, a substantial decrease in our quarterly operational expenses achieved through a tight but agile cost-containment plan that allows for rapid re-adjustments based on compelling business need, are now starting to be realized following implementation in Q4/21 and we believe will continue to bear fruit throughout 2022. These activities are key in our ongoing ability to deliver record revenues, which amounted to $85.8 million for 2021, while keeping gross margins highly competitive, with commercial operations profitability expected in 2022. We are committed to continued substantial cost reduction in 2022."