RedHill Biopharma Ltd. (RDHL) stock prices were up by 11.67% as of the market closing on October 4th 2021. This brought the price per share up to USD$4.88 at the end of the trading day. Subsequent premarket fluctuations have seen the stock surge by 4.71%, bringing it up to USD$5.11.
RDHL Stock’s Study Results
October 4th 2021 saw RDHL stock announce new data from its ongoing opaganib global Phase 2/3 study. The study is designed to treat hospitalized patients with severe Covid-19 pneumonia. It evaluated oral opaganib vs the placebo controlled arm, with the oral treatment exhibiting promising results. The opaganib treatment arm resulted in a 62% statistically significant reduction in mortality. The treatment also exhibited statistically significant improved outcomes in time to room air and median time to hospital discharge. These results were gathered from a cohort of 251 hospitalized patients with moderately severe Covid-19, which comprises 53% of the total 475 study participants.
Details of the Clinical Trial
The important new results were generated from a post-hoc analysis of data from the 251 study participants. These patients required a Fraction of inspired Oxygen (FiO2) up to 60% at baseline. Patients with an FiO2 lower than 61% are considered to be severely affected and typically require oxygen supplementations via a nasal cannula or face mask. The new findings support the treatment’s potential viability in hospitalized, moderately severe Covid-19 patients. This demographic of patients is at high risk of disease progression, morbidity, and mortality. These patients are hoped to benefit from the treatment’s combined antiviral and anti-inflammatory activities.
Building on Success
The promising results serve to provide a strong rationale for the treatment’s potential efficacy in hospitalized patients. These patients demonstrate a need for oxygen supplementation of up to 60% FiO2. The Phase 2/3 study results have also proven to be consistent the treatment’s earlier Phase 2 study results. The treatment also exhibited potent antiviral inhibition of Covid19 variants in human bronchial epithelial cells. With the coronavirus variants popping up across the globe, the treatment serves to further provide support for its potential in earlier stages of disease where the viral load is higher.
Future Outlook for RDHL Stock
The company reported a strong quarter, consolidated by the promising new data generated from the ongoing opaganib clinical trial. RDHL stock is poised to capitalize on the expanded scope of opportunities presented to it in light of its recent developments. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.