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RedHill's Oncology Candidate to be Tested for Coronavirus
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RedHill Biopharma Ltd. (RDHL - Free Report) announced that it has entered into an agreement with the National Institute of Allergy and Infectious Diseases (NIAID), which is part of the National Institutes of Health (NIH).
RedHill will provide NIAID with its investigational candidate RHB-107 (upamostat, WX-671)1 for non-clinical testing to evaluate the candidate’s activity against SARS-CoV-2, the virus that causes coronavirus disease (COVID-19).
Shares of RedHill were up 13.1% following this news on Monday. In fact, the stock has rallied 17.9% so far this year against the industry’s decline of 13.8%.
Per the company, NIAID selected RHB-107, a serine protease inhibitor, for in vitro testing after it evaluated data on the candidate’s possible mechanism of action and potential activity against SARS-CoV-2.
We note that RHB-107 is RedHill’s second investigational drug that is being evaluated for COVID-19. The company is also evaluating its novel investigational candidate, opaganib, in pre-clinical studies as a potential treatment for COVID-19.
Last week, RedHill submitted an investigational new drug (IND) application to the FDA for beginning a clinical study on opaganib to treat adults diagnosed with COVID-19 and pneumonia.
Meanwhile, a compassionate use program for opaganib is currently underway in Israel to evaluate patients with confirmed COVID-19 infection. Several patients have been treated to date with preliminary positive outcomes.
With the coronavirus pandemic infecting more than 2.5 million people worldwide and killing more than 170,000, several large and smaller pharma/biotech companies are racing ahead to successfully develop a treatment or vaccine to combat the disease.
Earlier this month, BioCryst Pharmaceuticals (BCRX - Free Report) initiated enrollment in a clinical study on its pipeline candidate galidesivir for treating patients with the novel coronavirus disease.
Notably, a few other companies are also evaluating their marketed drugs in studies to address the deadly COVID-19. These include Roche’s (RHHBY - Free Report) rheumatoid arthritis (RA) drug Actemra and Regeneron/Sanofi’s (SNY - Free Report) RA drug Kevzara.
We remain optimistic about the developments in the pharma sector as several companies are coordinating with global authorities on rolling out a treatment as early as possible to neutralize this deadly virus.
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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RedHill's Oncology Candidate to be Tested for Coronavirus
RedHill Biopharma Ltd. (RDHL - Free Report) announced that it has entered into an agreement with the National Institute of Allergy and Infectious Diseases (NIAID), which is part of the National Institutes of Health (NIH).
RedHill will provide NIAID with its investigational candidate RHB-107 (upamostat, WX-671)1 for non-clinical testing to evaluate the candidate’s activity against SARS-CoV-2, the virus that causes coronavirus disease (COVID-19).
Shares of RedHill were up 13.1% following this news on Monday. In fact, the stock has rallied 17.9% so far this year against the industry’s decline of 13.8%.
Per the company, NIAID selected RHB-107, a serine protease inhibitor, for in vitro testing after it evaluated data on the candidate’s possible mechanism of action and potential activity against SARS-CoV-2.
We note that RHB-107 is RedHill’s second investigational drug that is being evaluated for COVID-19. The company is also evaluating its novel investigational candidate, opaganib, in pre-clinical studies as a potential treatment for COVID-19.
Last week, RedHill submitted an investigational new drug (IND) application to the FDA for beginning a clinical study on opaganib to treat adults diagnosed with COVID-19 and pneumonia.
Meanwhile, a compassionate use program for opaganib is currently underway in Israel to evaluate patients with confirmed COVID-19 infection. Several patients have been treated to date with preliminary positive outcomes.
With the coronavirus pandemic infecting more than 2.5 million people worldwide and killing more than 170,000, several large and smaller pharma/biotech companies are racing ahead to successfully develop a treatment or vaccine to combat the disease.
Earlier this month, BioCryst Pharmaceuticals (BCRX - Free Report) initiated enrollment in a clinical study on its pipeline candidate galidesivir for treating patients with the novel coronavirus disease.
Notably, a few other companies are also evaluating their marketed drugs in studies to address the deadly COVID-19. These include Roche’s (RHHBY - Free Report) rheumatoid arthritis (RA) drug Actemra and Regeneron/Sanofi’s (SNY - Free Report) RA drug Kevzara.
We remain optimistic about the developments in the pharma sector as several companies are coordinating with global authorities on rolling out a treatment as early as possible to neutralize this deadly virus.
Zacks Rank
RedHill currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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