RedHill Biopharma Shares Surge New Treatment Patent For Its Late-Stage COVID-19 Candidate

• The United States Patent and Trademark Office (USPTO) granted a further method of use patent for RedHill Biopharma Ltd's (NASDAQ: RDHL) COVID-19 treatment, opaganib.

• The move grants a new method of use patent to inhibit COVID-19 in patients with pneumonia and receiving supplemental oxygen at a fraction of inspired oxygen (FiO2) up to and including 60%.

• The new patent, expiring in 2041, protects the results from a post-hoc analysis from the global Phase 2/3 study in hospitalized patients with COVID-19 pneumonia.

• Related: RedHill Biopharma Says Its Oral Broad-Acting Antivirals Inhibit Dominant Omicron Sub-Variant BA.5.

• In the analysis of 251 participants requiring a FiO2 up to and including 60% at baseline (54% of study participants), oral opaganib resulted in a 62% reduction in mortality, improved outcomes in time to room air and median time to hospital discharge, and a reduced likelihood of intubation and mechanical ventilation.

• Late-stage development of opaganib is ongoing pending Phase 3 trial design regulatory approvals and securing of external funding.

• Price Action: RDHL shares are up 50.90% at $0.70 on the last check Wednesday.

See more from Benzinga

• Ayala Pharmaceuticals and Advaxis Agree To Combine, Expect Uplisting On NASDAQ

• INmune Bio's INKmune Shows Positive Efficacy In Multiple Cancer Cell Lines

• Elon Musk Warns Russia Can Utterly Destroy US, Europe With Nuclear Missiles In Under 30 Minutes And Vice

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.