Financials
RedHill has a market cap of approximately $330 million and a cash balance of $51 million. The company has not done a secondary offering in the recent past. Its cash burn is approximately $50 million, although this is really guesswork on my part. It appears that RedHill's existing cash reserves will last for a year, so expect a dilution or at least some non-dilutive financing if the company can manage it.
Bottom line
RedHill looks like a somewhat boring, long-term, relatively risk-free, low-headache investment for investors. Its 52-week range is $3.51-10.82, and the stock is currently trading at $8.82. The pandemic has been both good and bad for RedHill, because while it has halted most of the company’s efforts, this was also when the company made a radical shift in its focus and concentrated on developing its own products. Even a 5-year chart of the company looks relatively stale and uninteresting. If you want to add some anchor to your portfolio, this is a benign-looking investment at current prices.
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