RedHill: Rises on grant from Pennsylvania for COVID-19 treatment

Redhill Biopharma

03/09/2020 12:40

** U.S.-listed shares of Israeli biopharmaceutical co
 RDHL.O  rise 5.05% to $8.32 premarket
    ** Co says opaganib, an oral drug being evaluated for severe
COVID-19 pneumonia, will receive a $300,000 grant from the State
of Pennsylvania's COVID-19 Vaccines, Treatments and Therapies
Program that supports rapid advancement of novel COVID-19
therapies  urn:newsml:reuters.com:*:nGNE1Vgs18
    ** Partner Apogee Biotechnology Corporation, which developed
opaganib, will be awarded the grant for conducting research -
RDHL
    ** Says UK, Italy, Russia and Mexico have approved a global
mid-stage study evaluating opaganib for COVID-19 
    ** A mid-stage study in the U.S., running parallel to the
global study, has enrolled more than 50% of patients - RDHL 
    ** Up to last close, stock was up ~30% YTD

 (Reporting by Vishwadha Chander in Bengaluru)
 ((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 80 6749 6132;))