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Why RedHill Biopharma Stock Is Getting Crushed Today

·2 min read
Why RedHill Biopharma Stock Is Getting Crushed Today
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Shares of the specialty biopharmaceutical company RedHill Biopharma (NASDAQ: RDHL) are down by an eye-popping 33% as of 10:53 a.m. EDT Tuesday morning. Interestingly, the market appears to have anticipated this clinical failure, as evinced by RedHill's steady decline over the course of the past week. While opaganib's COVID-19 indication probably wasn't going to be a huge moneymaker for RedHill (analysts expected roughly $200 million to $300 million at the peak from this indication), this sizable market may have had enough juice to transform the company into a profitable operation perhaps as soon as next year.