RedHill Biopharma Ltd. said that preliminary data results from the US Phase 2 study of its opaganib administered in patients hospitalized with COVID-19 pneumonia demonstrated positive safety and efficacy signals. Meanwhile, shares closed 5.6% lower on Dec. 31. RedHill Biopharma (RDHL) reported that the findings of the Phase 2 study of 40 hospitalized patients requiring oxygen support demonstrated that opaganib was safe, with no material safety differences between opaganib and placebo treatments. The opaganib-treated group showed greater improvement in reducing oxygen requirement by end of treatment at day 14 across key primary and secondary efficacy outcomes.