Redhill Biopharma Ltd
NASDAQ:RDHL
Redhill Biopharma Ltd
RedHill Biopharma Ltd. is a biopharmaceutical company focusing gastrointestinal and infectious diseases. The firm promotes three gastrointestinal drugs in the US: Movantik, Talicia and Aemcolo. Key programs in it pipeline of late-stage clinical assets include: opaganib (Yeliva) and RHB-107 for multiple indications including COVID-19, RHB-204 for pulmonary nontuberculous mycobacteria (NTM) disease and RHB-104 for Crohn's disease.
RedHill Biopharma Ltd. is a biopharmaceutical company focusing gastrointestinal and infectious diseases. The firm promotes three gastrointestinal drugs in the US: Movantik, Talicia and Aemcolo. Key programs in it pipeline of late-stage clinical assets include: opaganib (Yeliva) and RHB-107 for multiple indications including COVID-19, RHB-204 for pulmonary nontuberculous mycobacteria (NTM) disease and RHB-104 for Crohn's disease.
Cost Savings: RedHill is implementing a comprehensive cost reduction plan, targeting $50 million in operational savings over 18 months, mainly through a one-third reduction in the U.S. commercial workforce and streamlined expenses.
Profitability Target: Management is focused on reaching positive cash flow from operations before interest payments in the second half of 2022, with a clear path supported by reduced costs and stable cash usage.
Prescription Growth: Both Movantik and Talicia achieved record or near-record prescription volumes in Q1, with Talicia up 12.8% quarter-over-quarter and 80% year-over-year.
Revenue & Margins: Q1 2022 net revenue was $18.2 million, down from Q4 due to seasonality, with a gross margin of 56%.
Commercial Coverage: Both lead brands saw expanded payer coverage, with Talicia becoming a preferred brand for 14 million Medi-Cal beneficiaries and additional improvements in Florida and national PBMs.
R&D Strategy: COVID-19 programs (opaganib, RHB-107) and RHB-204 for NTM disease are advancing, but further progress will rely mainly on external (non-dilutive) funding.
Financial Position: Cash used in operating activities dropped over 70% quarter-on-quarter to about $4 million; quarter-end cash balance was $45 million, not including a $15 million raise in May.
