RDHL News & Events

RedHill Biopharma announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 8,571,429 American Depositary Shares, each ADS representing ten thousand ordinary shares of the company, series A-1 warrants to purchase up to an aggregate of 8,571,429 ADSs and series A-2 warrants to purchase up to an aggregate of 8,571,429 ADSs, at a combined purchase price of 70c per ADS and accompanying warrants in a private placement. The Series A-1 warrants have an exercise price of $0.86 per ADS, are exercisable immediately and have a term of five years following the Effectiveness Date, and the Series A-2 warrants have an exercise price of 70c per ADS, are exercisable immediately and have a term of 18 months following the Effectiveness Date. The private placement is expected to close on June 22, subject to the satisfaction of customary closing conditions. The gross proceeds to the company from this offering are expected to be approximately $6M, before deducting the placement agent's fees and other offering expenses payable by the company. The potential additional gross proceeds to the company from the series A-1 warrants and the series A-2 warrants, if fully exercised on a cash basis, will be approximately $13.4M. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

RedHill Biopharma is actively discussing potential collaborations for advancement of its investigational oral drug, opaganib, to combat Ebola virus disease or EVD, which can be fatal in approximately half of all cases, including the WHO's SOLIDARITY CORE clinical trial platform and pharma collaborations. Opaganib is an orally administered, host-directed, small molecule SPHK2 inhibitor with demonstrated antiviral properties in advanced clinical stage. Peer-reviewed published data shows opaganib's host-direction action stems from its ability to inhibit replication of viruses like SARS-CoV-2 and Ebola. In EVD specifically, opaganib offers a potential dual mechanism of action; blocking the PI3K/Akt pathway critical for filovirus entry and suppressing NLRP3 inflammasome and reducing IL-6/TNFalpha and S1P-mediated vascular permeability. The company has provided information to relevant government, industry and other organizations, regarding supply readiness and all available clinical and preclinical safety and efficacy data to aid rapid clinical and regulatory discussions. Opaganib is in development for multiple oncology, viral, inflammatory and diabetes and obesity-related indications. Opaganib is an investigational new drug. It has not been approved by any regulatory authority and is not available for commercial distribution. Inclusion in the WHO CORE platform cannot be guaranteed.