RedHill Biopharma rises on positive preclinical results from obesity drug
19/08/2024 14:05
** U.S.-listed shares of RedHill Biopharma RDHL.O
2RH0y.F rise 17% to 33 cents premarket
** Co announces positive results from multiple pre-clinical
studies which support the potential clinical use of co's
experimental drug opaganib to treat type 2 diabetes and other
obesity-related disorders
** The studies were undertaken by co's partner, Apogee
Biotechnology
** Co says the results showed the benefit of opaganib
therapy in suppression of high fat diet (HFD)-induced body
weight gain, loss of glucose tolerance and fat deposition
** Adds, opaganib treatment reduced weight gain and restored
glucose tolerance in an already obese HFD model- RDHL
** Up to last close, stock down 80.1% YTD
(Reporting by Sneha S K in Bengaluru)
((Sneha.SK@thomsonreuters.com;))