RedHill Biopharma Reports 2016 Third Quarter Financial Results
(Thomson Reuters ONE) -
* RedHill maintains a debt-free balance sheet with $40.5 million in cash at
the end of the third quarter, allowing the Company to continue to diligently
execute its three ongoing Phase III gastrointestinal disease programs and
other clinical-stage programs
* Recent key milestones include:
* Enhancement of the RHB-104 Phase III Crohn's disease program, including
the introduction of an option for early stop for success for
overwhelming efficacy, expected in Q2/2017
* Initiation of Phase II studies with YELIVA((TM)) for multiple myeloma
and hepatocellular carcinoma
* Signing of an exclusive license agreement with Grupo JUSTE for the
commercialization in Spain of RIZAPORT(®) oral thin-film migraine drug
and filing of a national Marketing Authorization Application in Spain by
Grupo JUSTE
* Signing of a binding term sheet with Pharmatronic Co. for the
commercialization of RIZAPORT(®) in South Korea
* Potential milestones expected in the coming year include:
* Q4/2016 - Safety-focused independent data and safety monitoring board
(DSMB) meeting for the MAP US Phase III study with RHB-104 for Crohn's
disease
* Q4/2016 - Top-line final results from the ongoing Phase IIa CEASE-MS
study with RHB-104 for multiple sclerosis
* Q2/2017 - Independent DSMB evaluation of the MAP US Phase III study with
RHB-104 for Crohn's disease, including option for early stop for success
for overwhelming efficacy
* H1/2017 - Initiation of a confirmatory Phase III study with RHB-105 for
the treatment of H. pyloriinfection
* Mid-2017 - Top-line results from the ongoing Phase III study with
BEKINDA(®) for gastroenteritis and gastritis in the U.S. (the GUARD
study)
* Mid-2017 - Top-line results from the ongoing Phase II study with
BEKINDA(®) for diarrhea-predominant irritable bowel syndrome (IBS-D) in
the U.S.
* H1/ 2017 - Re-submission of the RIZAPORT(®) U.S. NDA to the FDA
TEL-AVIV, Israel, Nov. 14, 2016 (GLOBE NEWSWIRE) -- RedHill Biopharma Ltd.
(NASDAQ:RDHL) (TASE:RDHL) ("RedHill" or the "Company"), a biopharmaceutical
company primarily focused on development and commercialization of late clinical-
stage, proprietary, orally-administered, small molecule drugs for
gastrointestinal and inflammatory diseases and cancer, today reported its
financial results for the quarter ended September 30, 2016.
The Company will host a conference call on Monday, November 14, 2016, at 9:00 am
EST to review the financial results and business highlights, dial-in details are
included below.
Financial highlights for the quarter ended September 30, 2016(1)
Research and Development Expenses for the third quarter of 2016 were $7.0
million, an increase of $3.1 million, compared to $3.9 million in the third
quarter of 2015 and an increase of $1.0 million, compared to $6.0 million in the
second quarter of 2016. Research and Development Expenses for the nine months
ended September 30, 2016 were $17.7 million, an increase of $4.9 million,
compared to $12.8 million in the comparable period of 2015. The increase in
2016 resulted primarily from the ongoing Phase III MAP US study with RHB-104
(Crohn's disease), the ongoing Phase II and Phase III studies with
BEKINDA(®) (IBS-D and gastroenteritis, respectively) and from preparations for
several Phase I/II studies with YELIVA((TM)) for multiple indications.
General, Administrative and Business Development Expenses in the third quarter
of 2016 were $1.4 million, an increase of $0.7 million, compared to $0.7 million
in the third quarter of 2015 and an increase of $0.2 million, compared to $1.2
million in the second quarter of 2016. General, Administrative and Business
Development Expenses for the nine months ended September 30, 2016 were $3.8
million, an increase of $1.4 million, compared to $2.4 million in the comparable
period of 2015. The increase was mainly due to enhanced business development and
investor relations activities.
Operating Loss in the third quarter of 2016 was $8.5 million, an increase of
$3.9 million, compared to $4.6 million in the third quarter of 2015 and an
increase of $1.3 million, compared to $7.2 million in the second quarter of
2016. Operating Loss for the nine months ended September 30, 2016 were $21.6
million, an increase of $6.4 million, compared to $15.2 million in the
comparable period of 2015. The increase was mainly due to increases in Research
and Development Expenses, as detailed above.
Net Cash Used in Operating Activities in the third quarter of 2016 was $7.4
million, an increase of $3.7 million, compared to $3.7 million in the third
quarter of 2015 and an increase of $1.7 million, compared to $5.7 million in the
second quarter of 2016. Net Cash Used in Operating Activities for the nine
months ended September 30, 2016 was $18.1 million, an increase of $6.3 million,
compared to $11.8 million in the comparable period of 2015. The increase mainly
reflects the increase in Operating Loss, as detailed above.
Net Cash Used in Investment Activities in the third quarter of 2016 was $10.7
million, compared to Net Cash Used in Investment Activities of $2.4 million in
the third quarter of 2015. Net Cash Used in Investment Activities for the nine
months ended September 30, 2016 was $3.2 million, an increase of $4.3 million,
compared to Net Cash Provided by Investment Activities of $1.1 million in the
comparable period of 2015. The increase in Net Cash Used in Investment
Activities was due to an increase in bank deposits and marketable securities in
2016.
Cash Balance(2) as of September 30, 2016 was $40.5 million, a decrease of $17.6
million, compared to $58.1 million as of December 31, 2015. The decrease was a
result of the ongoing operations, mainly related to research and development
activities.
"We are very pleased with the important operational milestones achieved during
this quarter, including the significant enhancements to the RHB-104 Phase III
development program for Crohn's disease and the initiation of several clinical
studies with our novel Phase II oncology drug YELIVA((TM))" said Mr. Micha Ben
Chorin, RedHill's CFO. "We maintained a debt-free balance sheet and a cash
position of $40.5 million at the end of the third quarter of 2016 as we continue
to advance several Phase III and Phase II gastrointestinal programs toward
important data points in the coming months. We also continue to advance our
strategic plan to build a U.S. specialty GI pharmaceutical company."
Conference Call and Webcast Information:
The Company will host a conference call on Monday, November 14, 2016, at 9:00 am
EST to review the financial results and business highlights.
To participate in the conference call, please dial the following numbers 5-10
minutes prior to the start of the call: United States: +1-877-280-2342;
International: +1-646-254-3367; and Israel: +972-3-721-9510. The access code for
the call is 2341628.
The conference call will be broadcasted live and available for replay on the
Company's website, http://ir.redhillbio.com/events.cfm, for 30 days. Please
access the Company's website at least 15 minutes ahead of the conference to
register, download, and install any necessary audio software.
Recent operational highlights:
1. On July 5, 2016, RedHill and its co-development partner, IntelGenx Corp.
(IntelGenx), announced the signing of an exclusive license agreement with
Grupo JUSTE S.A.Q.F (Grupo JUSTE), for the commercialization of
RIZAPORT(®) oral thin-film for acute migraines. Under the terms of the
agreement, RedHill granted Grupo JUSTE the exclusive rights to register and
commercialize RIZAPORT(®) in Spain and a right of first refusal for a
predefined term for additional territories. RedHill and IntelGenx received
an upfront payment and are entitled to receive additional milestone
payments upon the achievement of certain predefined regulatory and
commercial targets, as well as tiered royalties. Further financial terms of
the agreement were not disclosed. Grupo JUSTE recently filed a national
Marketing Authorization Application for RIZAPORT(®) in Spain and commercial
launch in Spain is expected to take place in the second half of 2017.
2. On July 13, 2016, RedHill announced the signing of a research collaboration
agreement with the U.S. National Institute of Allergy and Infectious
Diseases (NIAID), part of the National Institutes of Health (NIH), intended
to evaluate RedHill's proprietary experimental therapy for the treatment of
Ebola virus disease. The new research collaboration follows encouraging
results from preliminary non-clinical studies conducted in conjunction with
the NIAID using RedHill's proprietary experimental therapy. If successful,
this study is intended to provide supportive data for discussions with the
FDA for potential use of the Animal Rule pathway for approval. Ebola virus
disease is a severe and often fatal illness, which can cause severe
hemorrhagic fever in humans and has a mortality rate ranging from 25% to
90%(3). There is currently no FDA-approved treatment for Ebola virus
disease.
3. On July 21, 2016, RedHill announced that it had received a Notice of
Allowance from the United States Patent and Trademark Office (USPTO) for a
new patent covering RHB-105. The patent application,
entitled "Pharmaceutical Compositions For The Treatment Of Helicobacter
Pylori"expands RedHill's patent portfolio covering RHB-105 and is expected
to be valid until 2034, once granted.
4. On August 1, 2016, RedHill announced that the last patient completed the
final scheduled follow-up visit in the Phase IIa proof-of-concept clinical
study evaluating RHB-104 in patients treated for relapsing-remitting
multiple sclerosis (the CEASE-MS study). The analysis of the study is
ongoing, with top-line final results expected in Q4/2016. Previously
announced interim results after completion of the 24-week RHB-104 treatment
period of the study demonstrated positive safety and efficacy signals and
support further clinical development.
5. On August 29, 2016, RedHill announced that it had received from the
European Patent Office a Notice of Intention to Grant for a new patent
covering the use of RHB-104 in the treatment of multiple sclerosis. Upon
grant by the European Patent Office, the patent is expected to be valid
until 2032 and can be officially validated in up to 38 European countries.
6. On September 8, 2016, RedHill announced that a Phase Ib/II clinical study
evaluating YELIVA((TM)) in patients with refractory or relapsed multiple
myeloma was initiated. The open-label, dose escalation Phase Ib/II study is
being conducted at Duke University Medical Center and will enroll up to 77
patients with refractory or relapsed multiple myeloma who have previously
been treated with proteasome inhibitors and immunomodulatory drugs. The
study is supported by a $2 million grant from the National Cancer Institute
Small Business Innovation Research Program awarded to Apogee Biotechnology
Corp., in conjunction with Duke University, with additional support from
RedHill.
7. On September 12, 2016, RedHill announced a research collaboration with
Stanford University School of Medicine for the evaluation of YELIVA((TM)).
The research collaboration is intended to complement RedHill's planned
Phase Ib clinical study to evaluate YELIVA((TM)) as a radioprotectant for
prevention of mucositis in head and neck cancer patients undergoing
therapeutic radiotherapy. Results from the research collaboration are
expected in mid-2017.
8. On September 21, 2016, RedHill and IntelGenx, announced that they had
entered into a binding term sheet with Pharmatronic Co., granting
Pharmatronic Co. the exclusive license to commercialize RIZAPORT(® )in the
Republic of Korea (South Korea). Under the term sheet, RedHill and
IntelGenx are to receive an upfront payment and will be eligible to receive
additional milestone payments upon achievement of certain predefined
regulatory and commercial targets, as well as tiered royalties. Subject to
the satisfaction of the remaining conditions, the parties will endeavor to
enter into a definitive agreement within 60 days of the execution of the
term sheet. Further financial terms of the term sheet were not disclosed.
9. On October 5, 2016, RedHill announced that a Phase II clinical study
evaluating YELIVA((TM)) in patients with advanced hepatocellular carcinoma
(HCC) was initiated at the Hollings Cancer Center at the Medical University
of South Carolina (MUSC), subject to IND clearance by the FDA. The study is
supported by a grant from the U.S. National Cancer Institute (NCI) awarded
to MUSC, with additional support from RedHill. The HCC study protocol is
still under FDA review. Enrolment in the study is expected to begin
following successful completion of the FDA's review process, anticipated by
end of 2016.
10. On October 6, 2016, RedHill provided an update on the RHB-104 Phase III
Crohn's disease development program, planned enhancements to the MAP US
first Phase III study and expected milestones, including:
* An increase in the total number of patients planned to be enrolled in
the study from 270 to 410 and the addition of an open-label extension
study offering all patients who complete 26 weeks of study
participation and remain out of remission (Crohn's disease active index
(CDAI) >150) the opportunity to receive treatment with RHB-104 for a
52-week period.
* A first safety-focused independent DSMB meeting is on track to take
place in the fourth quarter of 2016. A second independent DSMB meeting
is expected in the second quarter of 2017 and will include safety and
interim efficacy analysis, with evaluation of an early stop for success
for overwhelming efficacy, under pre-specified efficacy criteria.
* Two small-scale, open-label ex-U.S. clinical studies with RHB-104, each
with up to 20 Crohn's disease patients, are planned to be initiated and
are intended to provide additional supportive clinical data to
potential future marketing applications, as well as to evaluate RHB-
104's efficacy in newly diagnosed and treatment-naïve Crohn's disease
patients, and as an add-on therapy to current standard-of-care.
* RedHill will remain blinded to the interim and ongoing results from the
Phase III study and no changes are planned to the MAP US Phase III
study's primary endpoint or 90% power.
* Assuming enrollment of all 410 planned subjects, completion of patient
recruitment in the MAP US Phase III study is expected by the end of
2017.
11. On October 18, 2016, RedHill announced that it had received from the Japan
Patent Office a Notice of Allowance for a new patent covering RHB-104 for
the treatment of multiple sclerosis, which is expected to be valid until
2032, once granted.
12. On November 1, 2016, RedHill announced that it had intended to offer its
American Depositary Shares (ADSs), each representing 10 of its ordinary
shares, in an underwritten public offering. RedHill subsequently announced,
on November 2, 2016, that it had withdrawn the proposed underwritten public
offering of its ADSs due to market conditions.
13. On November 1, 2016, RedHill announced that it had entered into a non-
binding term sheet with a pharmaceutical company as part of its potential
strategic vertical integration plan to build a U.S. specialty
pharmaceutical company by establishing a commercial presence and
capabilities. Under the term sheet, RedHill would be granted the right to
exclusively promote a specialty gastrointestinal product in certain
territories in the U.S. The parties would share revenues generated in such
territories based on an agreeable split between the parties. RedHill is not
required to make any upfront or milestone payments under the term sheet.
Although RedHill's goal is to complete the transaction pertaining to the
commercial asset in the fourth quarter of 2016, the term sheet is non-
binding and there is no certainty as to the execution nor timing of
execution of a definitive agreement between RedHill and its potential
partner. There is no assurance that satisfactory due diligence will be
completed or that the parties will obtain all necessary corporate
approvals.
14. On November 3, 2016, RedHill announced that top-line results from both the
ongoing Phase III clinical study with BEKINDA(®) 24 mg for acute
gastroenteritis and gastritis (the GUARD study) and the ongoing Phase II
clinical study with BEKINDA(®) 12 mg for diarrhea-predominant irritable
bowel syndrome (IBS-D) are expected in mid-2017. Over two-thirds of the
planned total of 320 subjects have been enrolled in the Phase III GUARD
study with BEKINDA(®) 24 mg for acute gastroenteritis and gastritis in the
U.S. Approximately half of the planned total of 120 subjects have been
enrolled in the Phase II clinical study with BEKINDA(®) 12 mg for the
treatment of IBS-D in the U.S.
15. On November 10, 2016, RedHill announced that it has concluded a positive
Type B Meeting with the U.S. Food and Drug Administration (FDA) discussing
the chemistry, manufacturing and controls (CMC) aspects of the RHB-105
Phase III development program. The confirmatory Phase III study with RHB-
105 for H. pylori infection is planned to be initiated in H1/2017, after
completion of the ongoing supportive PK program. Subject to a successful
outcome, the confirmatory Phase III study and the supportive PK program are
expected to complete the package required for a U.S. NDA for RHB-105,
including clinical data and CMC.
About RedHill Biopharma Ltd.:
RedHill Biopharma Ltd. (NASDAQ:RDHL) (TASE:RDHL) is a biopharmaceutical company
headquartered in Israel, primarily focused on the development and
commercialization of late clinical-stage, proprietary, orally-administered,
small molecule drugs for the treatment of gastrointestinal and inflammatory
diseases and cancer. RedHill's pipeline of proprietary products includes:
(i) RHB-105 - an oral combination therapy for the treatment of Helicobacter
pylori infection with successful results from a first Phase III study; (ii) RHB-
104 - an oral combination therapy for the treatment of Crohn's disease with an
ongoing first Phase III study and an ongoing proof-of-concept Phase IIa study
for multiple sclerosis; (iii) BEKINDA(®) (RHB-102) -a once-daily oral pill
formulation of ondansetron with an ongoing Phase III study for acute
gastroenteritis and gastritis and an ongoing Phase II study for IBS-D; (iv) RHB-
106 - an encapsulated bowel preparation licensed to Salix Pharmaceuticals, Ltd.;
(v) YELIVA((TM)) (ABC294640) - a Phase II-stage, orally-administered, first-in-
class SK2 selective inhibitor targeting multiple oncology, inflammatory and
gastrointestinal indications; (vi) MESUPRON - a Phase II-stage first-in-class,
orally-administered uPA inhibitor, targeting gastrointestinal and other solid
tumors and (vii) RIZAPORT(®) (RHB-103) - an oral thin film formulation of
rizatriptan for acute migraines, with a U.S. NDA currently under discussion with
the FDA and marketing authorization received in Germany in October 2015.
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such statements may be
preceded by the words "intends," "may," "will," "plans," "expects,"
"anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes,"
"potential" or similar words. Forward-looking statements are based on certain
assumptions and are subject to various known and unknown risks and
uncertainties, many of which are beyond the Company's control, and cannot be
predicted or quantified and consequently, actual results may differ materially
from those expressed or implied by such forward-looking statements. Such risks
and uncertainties include, without limitation, risks and uncertainties
associated with (i) the initiation, timing, progress and results of the
Company's research, manufacturing, preclinical studies, clinical trials, and
other therapeutic candidate development efforts; (ii) the Company's ability to
advance its therapeutic candidates into clinical trials or to successfully
complete its preclinical studies or clinical trials; (iii) the extent and number
of additional studies that the Company may be required to conduct and the
Company's receipt of regulatory approvals for its therapeutic candidates, and
the timing of other regulatory filings, approvals and feedback; (iv) the
manufacturing, clinical development, commercialization, and market acceptance of
the Company's therapeutic candidates; (v) the Company's ability to establish and
maintain corporate collaborations; (vi) the Company's ability to acquire
products approved for marketing in the U.S. that achieve commercial success and
build its own marketing and commercialization capabilities; (vii) the
interpretation of the properties and characteristics of the Company's
therapeutic candidates and of the results obtained with its therapeutic
candidates in research, preclinical studies or clinical trials; (viii) the
implementation of the Company's business model, strategic plans for its business
and therapeutic candidates; (ix) the scope of protection the Company is able to
establish and maintain for intellectual property rights covering its therapeutic
candidates and its ability to operate its business without infringing the
intellectual property rights of others; (x) parties from whom the Company
licenses its intellectual property defaulting in their obligations to the
Company; (xi) estimates of the Company's expenses, future revenues capital
requirements and the Company's needs for additional financing; (xii) competitive
companies and technologies within the Company's industry; and (xiii) the impact
of the political and security situation in Israel on the Company's business.
More detailed information about the Company and the risk factors that may affect
the realization of forward-looking statements is set forth in the Company's
filings with the Securities and Exchange Commission (SEC), including the
Company's Annual Report on Form 20-F filed with the SEC on February 25, 2016.
All forward-looking statements included in this Press Release are made only as
of the date of this Press Release. We assume no obligation to update any written
or oral forward-looking statement unless required by law.
(1) All financial highlights are approximate and are rounded to the nearest
hundreds of thousands.
(2) Including cash and short-term investments
(3) World Health Organization (WHO), Fact sheet No° 103, January 2016.
REDHILL BIOPHARMA LTD.
CONDENSED INTERIM STATEMENTS OF COMPREHENSIVE LOSS
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
-------------------- ------------------------
2016 2015 2016 2015
---------------------------------------------
U.S. dollars in thousands
---------------------------------------------
REVENUES - 1 1 3
RESEARCH AND DEVELOPMENT
EXPENSES, net 7,038 3,901 17,745 12,820
GENERAL, ADMINISTRATIVE AND
BUSINESS DEVELOPMENT EXPENSES 1,416 692 3,807 2,420
------- ------------ ------------ -----------
OPERATING LOSS 8,454 4,592 21,551 15,237
------- ------------ ------------ -----------
FINANCIAL INCOME 109 1,420 548 889
FINANCIAL EXPENSES 599 120 17 182
------- ------------ ------------ -----------
FINANCIAL EXPENSES
(INCOME), net 490 (1,300 ) (531 ) (707 )
------- ------------ ------------ -----------
LOSS AND COMPREHENSIVE LOSS 8,944 3,292 21,020 14,530
------- ------------ ------------ -----------
LOSS PER ORDINARY SHARE (U.S.
dollars):
Basic 0.07 0.03 0.17 0.14
------- ------------ ------------ -----------
Diluted 0.07 0.04 0.17 0.14
------- ------------ ------------ -----------
REDHILL BIOPHARMA LTD.
CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION
(Unaudited)
September 30, December 31,
2016 2015
--------------------------------
U.S. dollars in thousands
--------------------------------
CURRENT ASSETS:
Cash and cash equivalents 6,772 21,516
Bank deposits 22,203 36,622
Financial assets at fair value through
profit or loss 11,528 -
Prepaid expenses and receivables 2,030 2,372
---------------- ---------------
42,533 60,510
---------------- ---------------
NON-CURRENT ASSETS:
Bank deposits 140 134
Fixed assets 147 124
Intangible assets 6,060 6,060
---------------- ---------------
6,347 6,318
---------------- ---------------
TOTAL ASSETS 48,880 66,828
---------------- ---------------
CURRENT LIABILITIES:
Accounts payable and accrued expenses 5,288 3,514
Payable in respect of intangible asset
purchase 2,000 2,000
---------------- ---------------
7,288 5,514
---------------- ---------------
NON-CURRENT LIABILITIES:
Derivative financial instruments 1,107 1,237
---------------- ---------------
TOTAL LIABILITIES 8,395 6,751
---------------- ---------------
EQUITY:
Ordinary shares 344 343
Additional paid-in capital 120,730 120,621
Warrants 1,057 1,057
Accumulated deficit (81,646 ) (61,944 )
---------------- ---------------
TOTAL EQUITY 40,485 60,077
---------------- ---------------
TOTAL LIABILITIES AND EQUITY 48,880 66,828
---------------- ---------------
REDHILL BIOPHARMA LTD.
CONDENSED INTERIM STATEMENTS OF CASH FLOWS
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
------------------------- ---------------------------
2016 2015 2016 2015
-----------------------------------------------------
U.S. dollars in thousands
-----------------------------------------------------
OPERATING ACTIVITIES:
Comprehensive loss (8,944 ) (3,292 ) (21,020 ) (14,530 )
------------ ------------ ------------- -------------
Adjustments in respect
of income and expenses
not involving cash
flow:
Share-based
compensation to
employees and service
providers 449 339 1,318 955
Depreciation 11 9 32 26
Unrealized losses
(gains) on derivative
financial instruments 585 (1,343 ) (130 ) (722 )
Fair value gains on
financial assets at
fair value through
profit or loss (10 ) - (72 ) -
Revaluation of bank
deposits (108 ) (16 ) (255 ) (6 )
Exchange differences
in respect of cash and
cash equivalents (36 ) 83 (77 ) 136
------------ ------------ ------------- -------------
891 (928 ) 816 389
------------ ------------ ------------- -------------
Changes in assets and
liability items:
Decrease in prepaid
expenses and
receivables 150 341 342 1,843
Increase in accounts
payable and accrued
expenses 533 133 1,774 500
------------ ------------ ------------- -------------
683 474 2,116 2,343
------------ ------------ ------------- -------------
Net cash used in
operating activities (7,370 ) (3,746 ) (18,088 ) (11,798 )
------------ ------------ ------------- -------------
INVESTING ACTIVITIES:
Purchase of fixed
assets (10 ) (6 ) (55 ) (13 )
Purchase of intangible
assets - (45 ) - (1,620 )
Change in investment
in current bank
deposits 14,668 (7,500 ) 14,668 (9,500 )
Maturity of non-
current bank deposits - 10,000 - 10,000
Purchase of financial
assets at fair value
through profit or loss (3,976 ) - (11,456 ) -
------------ ------------ ------------- -------------
Net cash provided by
(used in) investing
activities 10,682 2,449 3,157 (1,133 )
------------ ------------ ------------- -------------
FINANCING ACTIVITIES:
Proceeds from issuance
of ordinary shares,
net of expenses - 41,486 - 54,684
Exercise of options
into ordinary shares,
net - 38 110 74
------------ ------------ ------------- -------------
Net cash provided by
financing activities - 41,524 110 54,758
------------ ------------ ------------- -------------
INCREASE (DECREASE) IN
CASH AND CASH
EQUIVALENTS 3,312 40,227 (14,821 ) 41,827
EXCHANGE DIFFERENCES
ON CASH AND CASH
EQUIVALENTS 36 (83 ) 77 (136 )
BALANCE OF CASH AND
CASH EQUIVALENTS AT
BEGINNING OF PERIOD 3,424 7,439 21,516 5,892
------------ ------------ ------------- -------------
BALANCE OF CASH AND
CASH EQUIVALENTS AT
END OF PERIOD 6,772 47,583 6,772 47,583
------------ ------------ ------------- -------------
Supplementary
information on
interest received in
cash 133 87 185 167
------------ ------------ ------------- -------------
Supplementary
information on
investing activities
not involving cash
flows - Purchase of
intangible assets - - - 2,000
------------ ------------ ------------- -------------
Company contact:
Adi Frish
Senior VP Business Development & Licensing
RedHill Biopharma
+972-54-6543-112
adi(at)redhillbio.com
IR contact (U.S.):
Marcy Nanus
Senior Vice President
The Trout Group
+1-646-378-2927
Mnanus(at)troutgroup.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: RedHill Biopharma Ltd. via GlobeNewswire
Datum: 14.11.2016 - 13:10 Uhr
Sprache: Deutsch
News-ID 506766
Anzahl Zeichen: 39045
contact information:
Town:
Tel-Aviv
Kategorie:
Business News
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