RedHill Biopharma (Israel) is in a solid financial position to reap the benefits of several advanced trials in inflammatory gastrointestinal diseases, including Crohn’s. The company just released its financial statements, with some interesting highlights…
Based in Tel-Aviv, RedHill is developing small molecule oral drugs for a variety of conditions connected to the gastrointestinal tract. It is listed on the NASDAQ, with a market cap of €120M, but surprisingly just 11 employees (and only 1 in R&D).
The financial report shows the company is in solid financial state. It has no debts and €53M in cash reserves at the end of 2015, thanks to two public offerings, raising over €50M ($54.7M). It will use this money to further advance its clinical projects.
For example, one of RedHill’s focus areas is Crohn’s Disease,