generic RedHill Biopharma (RDHL) Up on New Patent for COVID-19 Candidate
RedHill Biopharma RDHL surged 46.6% on Oct 19 after the company reported that it has been granted a further method of use patent by the United States Patent and Trademark Office (USPTO) for its investigational pipeline COVID-19 candidate, opaganib.
The new patent for opaganib, which expires in 2041, aims to inhibit COVID-19 in a subgroup of patients with pneumonia, requiring supplemental oxygen at a fraction of inspired oxygen (FiO2) up to and including 60%.
The patent protects data from a global post-hoc analysis from the phase II/III double-blind, placebo-controlled study evaluating opaganib in adult hospitalized COVID-19 patients with pneumonia.
In the study, which analyzed 251 patients requiring FiO2 up to and including 60%, administration of oral opaganib resulted in a 62% reduction in mortality, improved outcome in median time to hospital discharge and a reduction in the likelihood of intubation and mechanical ventilation in the hospitalized COVID-19 patients.
Opaganib, an oral pill with dual anti-inflammatory and antiviral activity, has exhibited reduced mortality, improved RNA clearance and faster recovery time for hospitalized COVID-9 patients.
However, RedHill’s stock has declined 73.6% in the year-to-date period compared with the industry’s fall of 27.9%.
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Investors must also note that earlier this year, RedHill reported that opaganib was also observed to have potent in vitro efficacy against the Omicron SARS-CoV-2 variant while maintaining host cell viability. The study was conducted by the University of Tennessee Health Sciences Center.
Opaganib is also being evaluated as a treatment option for Influenza H1N1 and has demonstrated potent in-vitro inhibition of the disease, at low concentrations, with no evidence of toxicity.
It is also being evaluated in a phase II study for treating cholangiocarcinoma (CCA). The results of the study are expected in the third quarter of 2022.
Apart from opaganib, RedHill is also evaluating another orally-administered drug candidate, RHB-107, in a phase III study, for treating non-hospitalized symptomatic COVID-19 patients. The candidate is being developed as a potential treatment in the early course of COVID-19. RHB-107 is also being developed for multiple other cancer indications and inflammatory gastrointestinal diseases.
Redhill Biopharma Ltd. Price
Redhill Biopharma Ltd. price | Redhill Biopharma Ltd. Quote
Zacks Rank and Other Stock to Consider
RedHill Biopharma has a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the same sector include Acer Therapeutics ACER, Aerie Pharmaceuticals AERI and Catalyst Pharmaceuticals CPRX, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Acer’s loss per share estimates for 2022 remained steady at $2.47 over the past 30 days. The loss per share for 2023 has also remained steady at $1.07 in the same time frame.
Earnings of Acadia beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions. The average negative earnings surprise for ACER 106.16%.
Aerie Pharmaceuticals' loss estimates for 2022 remained steady at $1.82 over the past 30 days. The loss estimates for 2023 also remained steady at 96 cents per share in the same time frame.
AERI surpassed earnings in two of the trailing four quarters, missing the same on the remaining two occasions. The average negative earnings surprise for Aerie is 70.27%.
Catalyst’s earnings per share estimates for 2022 remained steady at 70 cents over the past 30 days. The same for 2023 has also remained steady at 85 cents in the same time frame.
Earnings of Catalyst was in-line with the estimates in one of the trailing four quarters, beat the same in one and missed estimates on the remaining two occasions. The average negative earnings surprise for CPRX is 5.41%.
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