RedHill Biopharma rises on U.S. patent for lung disease drug

Redhill Biopharma

26/01/2023 15:56

** U.S.-listed shares of Israel-based drug developer Redhill
Biopharma Ltd  RDHL.O  rise 3.7% to 18 cents    
    ** Co says it has been granted U.S. patent for experimental
drug being tested to treat lung infection caused by a class of
bacteria called mycobacterium avium complex  
    ** The patent for the drug candidate, RHB-204, is expected
to be valid through 2041 - RDHL
    ** The drug has received "orphan drug" tag from both the
U.S. and European health regulators, which provides co
eligibility for 12 years market exclusivity in the U.S. and 10
years exclusivity in the EU, respectively - RDHL   
    ** Including session moves, stock has fallen ~92% in the
past 12 months 
 (Reporting by Mariam E Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))