RedHill Biopharma shares jump as Ebola treatment shows promise
RedHill Biopharma Ltd. American depositary receipts (RDHL) climbed 10% premarket on Wednesday after the company said two of its experimental drugs, when individually combined with remdesivir, showed promise in combating the Ebola virus. The drugs, opaganib and RHB-107, "show a distinct synergy in terms of viral inhibition while maintaining cell viability" when either is combined with remdesivir, U.S. Army Major Jeffrey Kugelman, a branch chief in the Army's Medical Research Institute of Infectious Diseases and leader of the study's bioinformatics analysis, said in a statement. Ebola virus disease is a rare but often fatal illness, and the virus often spreads to people through infected animals or human transmission. Remdesivir is an antiviral medication developed by Gilead Sciences Inc. (GILD) and sold under the brand name Veklury. RedHill shares have dropped 76% in the year to date, while the S&P 500 has gained 24%.
-Eleanor Laise
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12-20-23 0913ET
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