HomeMarket NewsMicro Cap StocksRedhill Biopharma Soars 700% After FDA Approval

Redhill Biopharma Soars 700% After FDA Approval

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redhill biopharma ltd stock rdhl shares up fda approval granted

Redhill Biopharma Ltd. RDHL shares have been riding a wild rollercoaster, experiencing a whopping 700% surge in the past five days.

A Game-Changing Announcement:

On Monday, the exhilarating news broke that the FDA had bestowed Redhill Biopharma’s drug, Talicia, with five years’ market exclusivity in addition to the already granted three years.

Talicia is a revolutionary first-line therapy tailored to combat the eradication of H. pylori, a bacterial scourge afflicting a staggering 35% of the U.S. adult populace. The drug is safeguarded by robust intellectual property rights that extend until 2034.

The day’s trading volume for RDHL has been nothing short of a freight train, with over 67 million shares changing hands, eclipsing the stock’s 100-day average volume of 7.133 million shares.

Analysts reveal that Redhill Biopharma is currently trading above its 50-day moving average of 50 cents, but still trails behind its zenith of $15.99 over the past year.

Related News: What’s Going On With Palantir Technologies Stock Wednesday?

RDHL Price Action: According to Benzinga Pro, Redhill Biopharma shares are ascending by a remarkable 18%, reaching $2.69 at the time of publication.

Image: Alexandr Titov from Pixabay

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