TEL AVIV, Israel and
RALEIGH, N.C., May 27, 2021 /PRNewswire/ -- RedHill Biopharma
Ltd. (Nasdaq: RDHL) ("RedHill" or the "Company"), a specialty
biopharmaceutical company, today reported its financial results and
operational highlights for the first quarter ended March 31, 2021.
Dror Ben-Asher, RedHill's
Chief Executive Officer, said: "The progress of our two novel,
oral COVID-19 programs has put RedHill at the forefront of oral
COVID-19 therapeutics development. Opaganib, one of the most
advanced and promising novel, dual-mode of action, oral drug
candidates in development for COVID-19, now has almost 100%
enrollment in its global 464-patient Phase 2/3 study in severe
COVID-19." Mr. Ben-Asher continued: "Commercially, a strong
end to the first quarter has set up 2021 for growth, reversing a
slow start to the year across the industry. Movantik's new
prescriptions in the first quarter outperformed the same quarter
last year, while Talicia's growth in prescription volume, repeat
prescribing and new prescribers will be key growth drivers going
forward. With the U.S. now emerging from the shadows of COVID-19,
patients returning to clinics and travel resuming, positively
affecting Aemcolo's prospects, we are excited for the promise 2021
holds."
Micha Ben Chorin, Chief
Financial Officer at RedHill, added: "A strong March helped
rebalance quarterly revenues, as we maintained cash burn rate at
previous quarter levels. With a healthy balance sheet, we are
well-positioned to drive our late-stage R&D programs forward,
as we work diligently to build on the upward trends across our core
business."
Financial highlights for the quarter ended March 31, 2021[iii]
Net Revenues were approximately $20.6 million for the first quarter of 2021, a
decrease of $0.9 million compared to
the fourth quarter of 2020. The decrease was mainly attributable to
typical cyclical trends in Movantik sales.
Gross Profit was approximately $10.3 million for the first quarter of 2021, a
decrease of $0.5 million compared to
the fourth quarter of 2020, maintaining a consistent gross margin
of approximately 50%. The decrease was mainly attributable to the
decrease in net revenues.
Research and Development Expenses were
approximately $7.5 million for the
first quarter of 2021, an increase of $1.3
million compared to the fourth quarter of 2020, mainly
attributable to the progression of our COVID-19 development
programs.
Selling, Marketing and General and Administrative
Expenses were approximately $21.0 million for the first quarter of 2021, a
decrease of $3.3 million compared to
the fourth quarter of 2020. The decrease was mainly attributable to
large non-recurring marketing investments made in the fourth
quarter of 2020.
Operating Loss and Net Loss were
approximately $18.2 million and
$22.9 million, respectively, for the
first quarter of 2021, compared to $19.7
million and $24.3 million,
respectively, in the fourth quarter of 2020. The decrease was
mainly attributable to the decrease in marketing expenses, as
detailed above.
Net Cash Used in Operating Activities was
approximately $12.3 million for the
first quarter of 2021, a decrease of $0.4
million compared to the fourth quarter of 2020.
Net Cash Provided by Financing Activities was
approximately $58.7 million for the
first quarter of 2021, comprised primarily of proceeds from equity
offerings.
Cash Balance1 as of
March 31, 2021, was approximately
$92.1 million.
Commercial Highlights
Movantik®
(naloxegol)[iv]
Movantik ended the quarter strongly with a 4% increase in new
prescriptions compared to the first quarter of 2020. Movantik
market leadership position is holding strong at 75% U.S. market
share, with focus on growth in 2021 and beyond. Movantik also
continues to enjoy excellent coverage without restrictions in the
PAMORA class for both commercial & government segments, with
88% of American commercial lives covered.
In March 2021, the Company
announced that RedHill Biopharma Inc., AstraZeneca AB, AstraZeneca
Pharmaceuticals LP and Nektar Therapeutics had entered into a
settlement and license agreement with MSN Pharmaceuticals, Inc. and
MSN Laboratories PVT. LTD. (MSN) resolving their patent litigation
in the U.S. in response to MSN's Abbreviated New Drug Application
(ANDA) seeking approval by the U.S. Food and Drug Administration
(FDA) to market a generic version of Movantik. Under the terms of
the settlement agreement, MSN may not sell a generic version of
Movantik in the U.S. until October 1,
2030 (subject to FDA approval) or earlier under certain
circumstances.
In February 2021, the Company also
announced an agreement with Cosmo Pharmaceuticals N.V. to
manufacture Movantik, securing high-quality manufacturing capacity
for our current largest commercial product.
Talicia® (omeprazole magnesium, amoxicillin and
rifabutin)[v]
Talicia continued to achieve new launch year milestones. Talicia
achieved 11% growth in prescription volume and a 39% increase in
the number of repeat prescribers compared to the previous quarter,
positioning the brand and RedHill for continued growth in 2021 as
clinician visits resume and diagnostic labs reopen fully. The
quarter ended strongly, resulting in the highest levels of monthly
and weekly prescription volume and number of prescribers since
launch. Overall, Talicia continues to show growth in total
prescribers and repeat prescribing, and March's performance
indicates ongoing momentum for accelerated growth for the remainder
of 2021.
Talicia's growth is supported by an increased commercial
coverage of 77%, compared to 69% in the fourth quarter of 2020.
Further formulary additions are expected, adding to the previously
announced listings of Talicia on the national formularies of Prime
Therapeutics, EnvisionRx and Express Scripts.
Aemcolo®
(rifamycin)[vi]
RedHill has implemented plans, including re-launching active
field promotion, to support, and build on, the initial momentum
that Aemcolo was generating pre-COVID-19 travel restrictions. The
Company expects that these plans will drive a resurgence of
interest in Aemcolo once travel restrictions are lifted and
international travel from the U.S. returns to significant
levels.
In January 2021, the Company
reported that its partner, Cosmo Pharmaceuticals, announced it had
successfully completed its Phase 2 Proof-of-Concept (POC) clinical
trial of rifamycin SV-MMX 600 mg in patients with
diarrhea-predominant irritable bowel syndrome (IBS-D). As part of
an exclusive license agreement between RedHill and Cosmo
Pharmaceuticals from October 2019 for
the U.S. rights to Aemcolo (rifamycin), RedHill maintains certain
rights, including a right of first refusal, in relation to
rifamycin SV-MMX 600 mg in the U.S.
R&D Highlights
COVID-19 Program: Opaganib (ABC294640,
Yeliva®)[vii]
The global Phase 2/3 study of orally-administered, opaganib in
patients with severe COVID-19 pneumonia requiring hospitalization
and treatment with supplemental oxygen (NCT04467840) is now almost
100% enrolled. Last patient out will occur approximately six weeks
after the final patient is randomized. This puts opaganib amongst
the first novel investigational COVID-19 oral pills to deliver
late-stage data.
The study has passed four Data Safety Monitoring Board reviews,
including a futility review. The fourth DSMB review, conducted in
April, was based on an analysis of unblinded safety data from the
first 255 patients treated for at least 14 days, extending the
total opaganib safety database to approximately 380 patients.
Opaganib has shown dual anti-inflammatory and antiviral activity
and is host-targeted, and therefore expected to be effective
against emerging viral variants with various mutations in the spike
protein.
The Company recently announced receipt of a Notice of Allowance
for a U.S. patent application covering the use of opaganib for the
treatment of COVID-19 with a term extending until at least 2041.
The Company also previously announced that it had signed
collaborations with several U.S., European and Canadian suppliers,
including with Cosmo Pharmaceuticals for large-scale ramp-up of
opaganib manufacturing, further strengthening manufacturing
capabilities and capacity of opaganib.
In view of the upcoming completion of enrollment, RedHill is
evaluating the regulatory path for opaganib with a focus on those
countries currently most affected by COVID-19. The regulatory path,
including potential submissions of emergency use applications in
those countries, is subject to whether the data generated by the
ongoing Phase 2/3 study is sufficiently positive and supportive, as
well as the specific requirements in each country. The strength of
the safety and efficacy data generated from the opaganib studies
will be key to regulatory applications. Additional studies to
support the potential of such applications and the use or marketing
of opaganib are likely to be required. For example, the FDA has
indicated we will need to complete additional studies to support
applications in the U.S. Evaluations and discussions continue with
the FDA, EMA and regulators in other countries.
The Company continues its discussions with U.S. and other
government agencies and non-governmental organizations around
potential funding to support the development and manufacturing
scale-up of opaganib.
COVID-19 Program: RHB-107
(upamostat)[viii]
In February 2021, RedHill
announced dosing of the first patient in the U.S. Phase 2/3
COVID-19 study with novel, orally-administered, RHB-107
(upamostat). The study with once-daily RHB-107 is evaluating
treatment of non-hospitalized patients with symptomatic COVID-19
who do not require supplemental oxygen - the vast majority of
COVID-19 patients.
RHB-107 is a novel, orally-administered, serine protease
inhibitor. It is also host-targeting and therefore also expected to
be effective against emerging viral variants with mutations in the
spike protein. In previously announced in vitro results,
RHB-107 strongly inhibited SARS-CoV-2 viral replication.
The Company recently announced receipt of a Notice of Allowance
for a U.S. patent application covering the use of RHB-107 for the
treatment of COVID-19 with a term extending until at least
2041.
RHB-204 - Pulmonary Nontuberculous Mycobacteria (NTM)
Disease
A U.S. Phase 3 study is ongoing to evaluate the efficacy and
safety of RHB-204 in adults with pulmonary NTM disease caused
by Mycobacterium avium Complex (MAC)
infection.
The FDA also granted Fast Track designation for RHB-204 in
January 2021, providing early and
frequent communications and a rolling review of any New Drug
Application (NDA). RHB-204 is also eligible for NDA Priority Review
and Accelerated Approval.
RHB-204 was granted FDA Orphan Drug designation and Qualified
Infectious Disease Product designation, extending its U.S. market
exclusivity to a potential total of 12 years upon potential FDA
approval.
Opaganib - Cholangiocarcinoma and Prostate Cancer
The Phase 2a study evaluating the activity of opaganib in
advanced cholangiocarcinoma (bile duct cancer) is ongoing.
Enrollment has been completed for the first cohort of 39 patients,
evaluating the activity of orally-administered opaganib as a
stand-alone treatment. Preliminary data from this cohort indicated
a signal of activity in a number of subjects with advanced
cholangiocarcinoma. Enrollment is ongoing for a second cohort,
evaluating opaganib in combination with hydroxychloroquine, an
anti-autophagy agent.
In light of preclinical findings demonstrating tumor regression
following combination treatment with opaganib and RHB-107
(upamostat), RedHill plans to add an additional cohort to the
ongoing Phase 2a study, evaluating opaganib in combination with
RHB-107, subject to discussions with the FDA. Opaganib was granted
FDA Orphan Drug designation for the treatment of
cholangiocarcinoma.
An additional Phase 2 study with opaganib in prostate cancer is
ongoing at the Medical University of South
Carolina (MUSC). The study is supported by a National Cancer
Institute grant awarded to MUSC with additional support from
RedHill.
Conference Call and Webcast Information:
The Company will host a webcast today, Thursday, May 27, 2021, at 8:30 a.m. EDT, during which it will present
key highlights for the first quarter of 2021.
The webcast including slides will be broadcast live on the
Company's website, https://ir.redhillbio.com/events,
and will be available for replay for 30
days.
To participate in the conference call, please dial one of the
following numbers 15 minutes prior to the start of the call:
United States: +1-877-870-9135;
International: +1-646-741-3167 and Israel:
+972-3-530-8845; the access code for the call is: 8506238.
About RedHill Biopharma
RedHill Biopharma Ltd. (Nasdaq: RDHL) is a specialty
biopharmaceutical company primarily focused on gastrointestinal and
infectious diseases. RedHill promotes the gastrointestinal drugs,
Movantik® for opioid-induced constipation in
adults, Talicia® for the treatment of
Helicobacter pylori (H. pylori) infection in adults, and
Aemcolo® for the treatment of travelers' diarrhea
in adults. RedHill's key clinical late-stage development programs
include: (i) RHB-204, with an ongoing Phase 3 study for
pulmonary nontuberculous mycobacteria (NTM) disease; (ii)
opaganib (Yeliva®, ABC294640), a
first-in-class SK2 selective inhibitor targeting
multiple indications with a Phase 2/3 program for COVID-19 and
Phase 2 studies for prostate cancer and cholangiocarcinoma ongoing;
(iii) RHB-107 (upamostat), a serine protease
inhibitor in a U.S. Phase 2/3 study as treatment for symptomatic
COVID-19, and targeting multiple other cancer and inflammatory
gastrointestinal diseases; (iv) RHB-104, with positive
results from a first Phase 3 study for Crohn's disease; (v)
RHB-102 (Bekinda®), with positive results
from a Phase 3 study for acute gastroenteritis and gastritis and
positive results from a Phase 2 study for IBS-D; and (vi)
RHB-106, an encapsulated bowel preparation. More
information about the Company is available at www.redhillbio.com /
https://twitter.com/RedHillBio.
This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements may be preceded by the words "intends,"
"may," "will," "plans," "expects," "anticipates," "projects,"
"predicts," "estimates," "aims," "believes," "hopes," "potential"
or similar words. Forward-looking statements include statements
regarding planned commercial operational breakeven by the end of
2021 and regarding achieving fast growth and increased profit
margin. Forward-looking statements are based on certain assumptions
and are subject to various known and unknown risks and
uncertainties, many of which are beyond the Company's control and
cannot be predicted or quantified, and consequently, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
without limitation, the risk of a delay in completion of
enrollment for the Phase 2/3 COVID-19 study for opaganib and the
Phase 2/3 COVID-19 study for RHB-107, delay in top-line data from
the Phase 2/3 COVID-19 study for opaganib, that the Phase 2/3
COVID-19 study for opaganib and the Phase 2/3 COVID-19 study for
RHB-107 may not be successful and, even if successful, such studies
and results may not be sufficient for regulatory applications,
including emergency use or marketing applications, and that
additional COVID-19 studies for opaganib are likely to be required,
and for RHB-107 may be required, by regulatory authorities to
support such potential applications and the use or marketing of
opaganib and/or RHB-107, as the case may be, for COVID-19 patients,
that opaganib and RHB-107 will not be effective against emerging
viral variants, as well as risks and uncertainties associated
with the risk that the Company will not successfully
commercialize its products; as well as risks and uncertainties
associated with (i) the initiation, timing, progress and results of
the Company's research, manufacturing, pre-clinical studies,
clinical trials, and other therapeutic candidate development
efforts, and the timing of the commercial launch of its commercial
products and ones it may acquire or develop in the future; (ii) the
Company's ability to advance its therapeutic candidates into
clinical trials or to successfully complete its pre-clinical
studies or clinical trials or the development of a commercial
companion diagnostic for the detection of MAP; (iii) the extent and
number and type of additional studies that the Company may be
required to conduct and the Company's receipt of regulatory
approvals for its therapeutic candidates, and the timing of other
regulatory filings, approvals and feedback; (iv) the manufacturing,
clinical development, commercialization, and market acceptance of
the Company's therapeutic candidates and Talicia®; (v)
the Company's ability to successfully commercialize and promote
Talicia®, and Aemcolo® and
Movantik®; (vi) the Company's ability to
establish and maintain corporate collaborations; (vii) the
Company's ability to acquire products approved for marketing in the
U.S. that achieve commercial success and build its own marketing
and commercialization capabilities; (viii) the interpretation of
the properties and characteristics of the Company's therapeutic
candidates and the results obtained with its therapeutic candidates
in research, pre-clinical studies or clinical trials; (ix) the
implementation of the Company's business model, strategic plans for
its business and therapeutic candidates; (x) the scope of
protection the Company is able to establish and maintain for
intellectual property rights covering its therapeutic candidates
and its ability to operate its business without infringing the
intellectual property rights of others; (xi) parties from whom the
Company licenses its intellectual property defaulting in their
obligations to the Company; (xii) estimates of the Company's
expenses, future revenues, capital requirements and needs for
additional financing; (xiii) the effect of patients suffering
adverse experiences using investigative drugs under the Company's
Expanded Access Program; (xiv) competition from other companies and
technologies within the Company's industry; and (xv) the hiring and
employment commencement date of executive managers. More detailed
information about the Company and the risk factors that may affect
the realization of forward-looking statements is set forth in the
Company's filings with the Securities and Exchange Commission
(SEC), including the Company's Annual Report on Form 20-F filed
with the SEC on March 18, 2021. All
forward-looking statements included in this press release are made
only as of the date of this press release. The Company assumes no
obligation to update any written or oral forward-looking statement,
whether as a result of new information, future events or otherwise
unless required by law.
Company
contact:
Adi Frish
Chief Corporate and
Business Development Officer
RedHill
Biopharma
+972-54-6543-112
adi@redhillbio.com
|
Media
contacts:
U.S.: Bryan
Gibbs, Finn Partners
+1 212 529
2236
bryan.gibbs@finnpartners.com
UK: Amber
Fennell, Consilium
+44 (0) 7739 658 783
fennell@consilium-comms.com
|
REDHILL BIOPHARMA
LTD.
|
CONDENSED
CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE LOSS
|
(Unaudited)
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
March 31,
|
|
|
2021
|
|
2020
|
|
|
U.S. dollars in thousands
|
NET
REVENUES
|
|
20,575
|
|
1,056
|
COST OF
REVENUES
|
|
10,253
|
|
1,715
|
GROSS
PROFIT
|
|
10,322
|
|
(659)
|
RESEARCH AND
DEVELOPMENT EXPENSES
|
|
7,484
|
|
2,765
|
SELLING AND
MARKETING EXPENSES
|
|
13,895
|
|
9,006
|
GENERAL AND
ADMINISTRATIVE EXPENSES
|
|
7,095
|
|
4,586
|
OPERATING
LOSS
|
|
18,152
|
|
17,016
|
FINANCIAL
INCOME
|
|
(42)
|
|
(214)
|
FINANCIAL
EXPENSES
|
|
4,753
|
|
355
|
FINANCIAL
EXPENSES, net
|
|
4,711
|
|
141
|
LOSS AND
COMPREHENSIVE LOSS FOR THE PERIOD
|
|
22,863
|
|
17,157
|
|
|
|
|
|
LOSS PER ORDINARY
SHARE, basic and diluted (U.S. dollars):
|
|
0.05
|
|
0.05
|
WEIGHTED AVERAGE
OF ORDINARY SHARE (in thousands)
|
|
429,603
|
|
352,696
|
REDHILL BIOPHARMA
LTD.
|
CONDENSED
CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION
|
|
|
|
|
|
|
|
|
March 31,
|
|
December 31,
|
|
|
2021
|
|
2020
|
|
|
Unaudited
Audited
|
|
|
U.S. dollars in thousands
|
CURRENT
ASSETS:
|
|
|
|
|
Cash and cash
equivalents
|
|
75,972
|
|
29,295
|
Bank
deposits
|
|
16
|
|
17
|
Financial assets at
fair value through profit or loss
|
|
—
|
|
481
|
Trade
receivables
|
|
23,306
|
|
28,655
|
Prepaid expenses and
other receivables
|
|
4,094
|
|
5,521
|
Inventory
|
|
9,270
|
|
6,526
|
|
|
112,658
|
|
70,495
|
NON-CURRENT
ASSETS:
|
|
|
|
|
Restricted
cash
|
|
16,158
|
|
16,164
|
Fixed assets
|
|
553
|
|
511
|
Right-of-use
assets
|
|
4,702
|
|
5,192
|
Intangible
assets
|
|
86,052
|
|
87,879
|
|
|
107,465
|
|
109,746
|
TOTAL
ASSETS
|
|
220,123
|
|
180,241
|
|
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
Accounts
payable
|
|
6,536
|
|
11,553
|
Lease
liabilities
|
|
1,636
|
|
1,710
|
Allowance for
deductions from revenue
|
|
22,677
|
|
18,343
|
Accrued expenses and
other current liabilities
|
|
25,446
|
|
24,082
|
Payable in respect of
intangible assets purchase
|
|
10,334
|
|
17,547
|
|
|
66,629
|
|
73,235
|
|
|
|
|
|
NON-CURRENT
LIABILITIES:
|
|
|
|
|
Borrowing
|
|
82,524
|
|
81,386
|
Payable in respect of
intangible assets purchase
|
|
13,788
|
|
7,199
|
Lease
liabilities
|
|
3,391
|
|
3,807
|
Royalty
obligation
|
|
750
|
|
750
|
|
|
100,453
|
|
93,142
|
TOTAL
LIABILITIES
|
|
167,082
|
|
166,377
|
|
|
|
|
|
EQUITY:
|
|
|
|
|
Ordinary
shares
|
|
1,309
|
|
1,054
|
Additional paid-in
capital
|
|
354,057
|
|
293,144
|
Accumulated
deficit
|
|
(302,325)
|
|
(280,334)
|
TOTAL
EQUITY
|
|
53,041
|
|
13,864
|
TOTAL LIABILITIES
AND EQUITY
|
|
220,123
|
|
180,241
|
REDHILL BIOPHARMA
LTD.
|
CONDENSED
CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
March 31,
|
|
|
|
2021
|
|
2020
|
|
|
|
U.S. dollars in thousands
|
OPERATING
ACTIVITIES:
|
|
|
|
|
|
Comprehensive
loss
|
|
(22,863)
|
|
(17,157)
|
|
Adjustments in respect
of income and expenses not involving cash flow:
|
|
|
|
|
|
Share-based
compensation to employees and service providers
|
|
872
|
|
802
|
|
Depreciation
|
|
492
|
|
350
|
|
Amortization and
impairment of intangible assets
|
|
1,827
|
|
1,076
|
|
Non-cash interest
expenses related to borrowing and payable in respect of intangible
assets purchase
|
|
2,639
|
|
104
|
|
Fair value losses
(gains) on financial assets at fair value through profit or
loss
|
|
6
|
|
75
|
|
Exchange differences
and revaluation of bank deposits
|
|
46
|
|
(159)
|
|
|
|
5,882
|
|
2,248
|
|
Changes in assets and
liability items:
|
|
|
|
|
|
Decrease (increase) in
trade receivables
|
|
5,349
|
|
(501)
|
|
Decrease in prepaid
expenses and other receivables
|
|
1,428
|
|
971
|
|
Increase in
inventories
|
|
(2,744)
|
|
(885)
|
|
Decrease in accounts
payable
|
|
(5,017)
|
|
(999)
|
|
Increase in accrued
expenses and other liabilities
|
|
1,364
|
|
6,030
|
|
Increase (decrease) in
allowance for deductions from revenue
|
|
4,334
|
|
(331)
|
|
|
|
4,714
|
|
4,285
|
|
Net cash used in
operating activities
|
|
(12,267)
|
|
(10,624)
|
|
INVESTING
ACTIVITIES:
|
|
|
|
|
|
Purchase of fixed
assets
|
|
(88)
|
|
(242)
|
|
Change in investment in
current bank deposits
|
|
—
|
|
3,200
|
|
Transactions costs
related to purchase of intangible assets
|
|
—
|
|
(1,183)
|
|
Proceeds from sale of
financial assets at fair value through profit or loss
|
|
475
|
|
2,225
|
|
Net cash provided by
(used in) investing activities
|
|
387
|
|
4,000
|
|
FINANCING
ACTIVITIES:
|
|
|
|
|
|
Proceeds from long-term
borrowings, net of transaction costs
|
|
—
|
|
79,345
|
|
Proceeds from issuance
of ordinary shares, net of issuance costs
|
|
57,941
|
|
—
|
|
Exercise of options
into ordinary shares
|
|
3,227
|
|
—
|
|
Repayment of payable in
respect of intangible asset purchase
|
|
(2,125)
|
|
—
|
|
Increase in restricted
cash
|
|
—
|
|
(20,000)
|
|
Payment of principal
with respect to lease liabilities
|
|
(383)
|
|
(261)
|
|
Net cash provided by
financing activities
|
|
58,660
|
|
59,084
|
|
INCREASE IN CASH
AND CASH EQUIVALENTS
|
|
46,780
|
|
52,460
|
|
EXCHANGE
DIFFERENCES ON CASH AND CASH EQUIVALENTS
|
|
(103)
|
|
131
|
|
BALANCE OF CASH
AND CASH EQUIVALENTS AT BEGINNING OF PERIOD
|
|
29,295
|
|
29,023
|
|
BALANCE OF CASH
AND CASH EQUIVALENTS AT END OF PERIOD
|
|
75,972
|
|
81,614
|
|
SUPPLEMENTARY
INFORMATION ON INTEREST RECEIVED IN CASH
|
|
19
|
|
178
|
|
SUPPLEMENTARY
INFORMATION ON INTEREST PAID IN CASH
|
|
1,990
|
|
231
|
|
SUPPLEMENTARY
INFORMATION ON NON-CASH INVESTING AND FINANCING
ACTIVITIES:
|
|
|
|
|
|
Acquisition of
right-of-use assets by means of lease liabilities
|
|
—
|
|
1,575
|
|
Long-term borrowings
transaction costs
|
|
—
|
|
1,284
|
|
[i] Including cash, cash equivalents, short-term investments
(bank deposits and financial assets at fair value) and restricted
cash
[ii] First quarter 2020 was the last quarter for Movantik as an
Astra Zeneca product
[iii] All financial highlights are approximate and are rounded
to the nearest hundreds of thousands.
[iv] Movantik® (naloxegol) is indicated for opioid-induced
constipation (OIC). Full prescribing information see:
www.movantik.com.
[v] Talicia® (omeprazole magnesium, amoxicillin and
rifabutin) is indicated for the treatment of H. pylori
infection in adults. For full prescribing information see:
www.Talicia.com.
[vi] Aemcolo® (rifamycin) indicated for the treatment
of travelers' diarrhea caused by noninvasive strains of
Escherichia coli in adults. For full prescribing information
see: www.aemcolo.com
[vii] Opaganib (ABC294640, Yeliva®) is an
investigational new drug, not available for commercial
distribution.
[viii] RHB-107 (upamostat) is an investigational new drug, not
available for commercial distribution.
View original
content:http://www.prnewswire.com/news-releases/redhill-biopharma-reports-first-quarter-2021-financial-results-and-operational-highlights-301300719.html
SOURCE RedHill Biopharma Ltd.