RedHill reports wider first-half loss amid commercial-portfolio transition

RedHill Biopharma ($RDHL) reported a first-half net loss of $6.1 million, compared with $4.1 million a year earlier, and no revenue from continuing operations. Operating cash use was $4.6 million, while the half-year cash balance stood at $5.3 million. The presentation reflects the transfer of Talicia’s commercial operations into a joint venture, rather than a like-for-like measure of the former consolidated product business.

The results provide a financial baseline for RedHill’s subsequent portfolio changes. It received $18 million upfront from the Talicia disposal and paid $12 million upfront for commercialization rights to Rebyota and Clenpiq. Those transactions should not be confused with first-half sales or current cash balances. The newly reported loss and liquidity figures underline the importance of executing the replacement commercial strategy; historical sales under the prior owner are not RedHill revenue forecasts.

Sources:

• Company release via PR Newswire