RedHill Biopharma Ltd. (NASDAQ: RDHL) disclosed that the U.S. Patent and Trademark Office (USPTO) has awarded the firm two new patents. One patent is featuring opaganib for treating Ebola virus disease, with patent protection until 2035. The second patent is featuring RHB-104 for treating bacterial infections, with protection through 2029.
Opaganib is currently under development for COVID-19, with a 475-patient global Phase 2/3 study in sufferers hospitalized with severe COVID-19 with patient cure and follow-up recently executed and top-line results upcoming.
RedHill Biopharma Ltd. (NASDAQ: RDHL) shares were trading up 4.24% during the trading session of Friday. RedHill Biopharma Ltd.'s (NASDAQ: RDHL) share price went from a low point around $5.90 to briefly over $11.52 in the past 52 weeks, though shares have since pulled back to $6.88. RDHL's market cap has remained high, hitting $308.43 million at the time of writing.
Furthermore, the MAP US randomized, double-blind, placebo-controlled first Phase 3 study with oral RHB-104 for Crohn's disease successfully fulfilled both its primary endpoint and its key secondary endpoints. The future development path to authorization is being investigated.