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Why RedHill Biopharma Blasted 12% Higher Today

TheMotleyFool

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Why RedHill Biopharma Blasted 12% Higher TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/0e9d087d-988e-4397-b7cf-6049e2776769.png

RedHill Biopharma (NASDAQ: RDHL) was a standout stock on a gloomy Monday for the market. The biotech's shares rose by just under 12% on positive and not entirely expected news about its top pipeline drug.

Monday morning, RedHill announced that its opaganib produced a 62% statistically significant reduction in mortality in hospitalized individuals with severe COVID-19 pneumonia. This was according to new data from a global phase 2/3 study.

Image source: Getty Images.

Source Fool.com

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