RedHill Biopharma Announces Proposed Public Offering of its American Depositary Shares
(Thomson Reuters ONE) -
TEL-AVIV, Israel and RALEIGH, N.C., Nov. 07, 2017 (GLOBE NEWSWIRE) -- RedHill
Biopharma Ltd. (NASDAQ:RDHL) (Tel-Aviv Stock Exchange:RDHL) ("RedHill" or the
"Company"), a specialty biopharmaceutical company primarily focused on late
clinical-stage development and commercialization of proprietary drugs for
gastrointestinal and inflammatory diseases and cancer, today announced that it
intends to offer its American Depositary Shares ("ADSs"), each representing ten
of its ordinary shares, in an underwritten public offering. RedHill also expects
to grant the underwriters a 30-day option to purchase up to an additional 15% of
the number of ADSs offered to the public. The offering is subject to market
conditions and there can be no assurance as to whether or when the offering may
be completed, or as to the actual size or terms of the offering.
The Company intends to use the proceeds from the offering to fund clinical
development programs, for potential acquisitions, to support commercial
operations and for general corporate purposes.
Cantor Fitzgerald & Co. and Nomura Securities International, Inc. are acting as
joint book-running managers and SMBC Nikko Securities America, Inc. is acting as
lead manager for the offering.
The ADSs described above are being offered by RedHill pursuant to a shelf
registration statement that was previously filed with the Securities and
Exchange Commission (the "SEC") and declared effective by the SEC on March
11, 2016. A preliminary prospectus supplement and accompanying prospectus
related to the offering will be filed with the SEC and will be available on the
SEC's website located at www.sec.gov. Copies of the preliminary prospectus
supplement and the accompanying prospectus relating to the offering may be
obtained, when available, by contacting Cantor Fitzgerald & Co, Attention:
Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by e-
mail at prospectus(at)cantor.com, or Nomura Securities International, Inc.,
Attention: Equity Syndicate Department, Worldwide Plaza, 309 West 49th Street,
New York, NY 10019-7316 or by telephone at 212-667-9000 or by email at
equitysyndicateamericas(at)nomura.com.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy the securities described herein, nor shall there be any sale of
these securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
About RedHill Biopharma Ltd.:
RedHill Biopharma Ltd. (NASDAQ:RDHL) (Tel-Aviv Stock Exchange:RDHL) is a
specialty biopharmaceutical company, 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 promotes three gastrointestinal products in the
U.S. and its clinical stage pipeline includes treatments for gastrointestinal
indications, pancreatic cancer and acute migraines: Donnatal® - a prescription
oral adjunctive drug used in the treatment of IBS and acute
enterocolitis; Esomeprazole Strontium Delayed-Release Capsules 49.3 mg - a
prescription proton pump inhibitor indicated for adults for the treatment of
gastroesophageal reflux disease (GERD) and other gastrointestinal conditions;
and EnteraGam® - a medical food intended for the dietary management, under
medical supervision, of chronic diarrhea and loose stools. RedHill's clinical-
stage pipeline includes: (i) TALICIA(TM) (RHB-105) - an oral combination therapy
for the treatment of Helicobacter pylori infection with successful results from
a first Phase III study and an ongoing confirmatory Phase III study; (ii) RHB-
104 - an oral combination therapy for the treatment of Crohn's disease with an
ongoing first Phase III study, a completed proof-of-concept Phase IIa study for
multiple sclerosis, and a planned pivotal Phase III study for nontuberculous
mycobacteria (NTM) infections; (iii) BEKINDA® (RHB-102) -a once-daily oral pill
formulation of ondansetron with successful top-line results from a Phase III
study in acute gastroenteritis and gastritis and successful top-line results
from a Phase II study in IBS-D; (iv) RHB-106 - an encapsulated bowel preparation
licensed to Salix Pharmaceuticals, Ltd.; (v) YELIVA® (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 protease inhibitor,
targeting pancreatic cancer and inflammatory gastrointestinal diseases and
(vii) RIZAPORT® (RHB-103) - an oral thin-film formulation of rizatriptan for
acute migraines, with a U.S. NDA resubmitted to the FDA and marketing
authorization received in two EU member states under the European Decentralized
Procedure (DCP).
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 successfully
market Donnatal® and EnteraGam®; (vi) the Company's ability to establish and
maintain corporate collaborations; (vii) 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; (viii) the
interpretation of the properties and characteristics of the Company's
therapeutic candidates and the results obtained with its therapeutic candidates
in research, preclinical studies or clinical trials; (ix) the implementation of
the Company's business model, strategic plans for its business and therapeutic
candidates; (x) 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; (xi) parties from whom the Company licenses its
intellectual property defaulting in their obligations to the Company; (xii)
estimates of the Company's expenses, future revenues, capital requirements and
needs for additional financing; (xiii) the effect of patients suffering adverse
experiences using investigative drugs under the Company's Expanded Access
Program,; and (xiv) competition from other companies and technologies within the
Company's industry. 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 SEC, including the Company's Annual
Report on Form 20-F filed with the SEC on February 23, 2017. All forward-looking
statements included in this press release are made only as of the date of this
press release. The Company assumes no obligation to update any written or oral
forward-looking statement, whether as a result of new information, future events
or otherwise, unless required by law.
Company contact: IR contact (U.S.):
Adi Frish Marcy Nanus
Senior VP Business Development & Licensing Senior Vice President
RedHill Biopharma The Trout Group
+972-54-6543-112 +1-646-378-2927
adi(at)redhillbio.com 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: 07.11.2017 - 22:16 Uhr
Sprache: Deutsch
News-ID 567111
Anzahl Zeichen: 10422
contact information:
Town:
Tel-Aviv
Kategorie:
Business News
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