The RedHill Biopharma Ltd (NASDAQ: RDHL) stock price rallied 53.7% after the U.S. Patent and Trademark Office (USPTO) issued a Notice of Allowance for granting a patent covering RHB-204's1 oral fixed-dose combination.
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The patent also covers methods for treating pulmonary Mycobacterium avium Complex (MAC) disease and kits, including a supply of fixed-dose combination products for treating pulmonary MAC disease. Once issued, the patent is expected to protect RHB-204 through 2041.
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Investors cheered the announcement, as evidenced by Redhill Biopharma’s stock price rally. Today’s rally in RDHL stock is a late reaction given that the announcement was made yesterday, yet the RDHL stock closed 2.56% higher. Retail investor interest in RDHL stock was extremely high, as over 17.85 million shares had changed hands at the time of writing.
Danielle T. Abramson, PhD, RedHill's SVP Global Head of Intellectual Property, said: “Non-tuberculosis mycobacterial disease (NTM) is particularly threatening for vulnerable people with underlying lung disease or weakened immune systems, and the incidence is increasing worldwide, with up to 180,000 people in the U.S. thought to be living with NTM disease2. It is notoriously difficult to treat, requiring multiple antibiotics to be taken over a lengthy period. With no approved first-line stand-alone therapies in the U.S., EU, and Japan, there is an urgent need for new treatment innovation,”
Adding:
“This USPTO Notice of Allowance for RHB-204 recognizes the innovation behind RHB-204's specific fixed-dose combination therapy for the treatment of NTM disease and is expected to extend protection for this innovation to 2041.”
A Phase 3 study to evaluate the safety and efficacy of RHB-204 in adults with pulmonary NTM disease caused by MAC infection is currently ongoing in the US. The company is in discussions with several prospective partners for RHB-204 across multiple territories.
However, the FDA has to approve RHB-204 for use in the United States before Redhill bio can commercialise it.
*This is not investment advice.
The Redhill Biopharma (RDHL) stock price chart.
The Redhill Biopharma (RDHL) stock price rallied 53.72% to trade at $0.28, from Thursday’s closing price of $0.18.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.