- RedHill Biopharma Ltd (NASDAQ:RDHL) plans announced a cost reduction plan expected to generate operational cost savings of approximately $50 million over the next 18 months.
- Most of these savings result from an approximately one-third reduction of the U.S. commercial team workforce, streamlined operational expenditure, including SG&A expenses, and refining the company's R&D strategy to rely mostly on external funding sources.
- Q1 FY22 net revenues reached $18.2 million, down from $20.5 million a year ago, attributable to typical cyclical trends in Movantik sales and increased gross to net deductions related mainly to increased formulary coverage.
- Gross margins improved from 50.2% to 55.9%
- The company reported a narrower operating loss of $(13.2) million compared to $(18.1) million a year ago.
- Net loss came in at $(17.1) million compared to $(22.8) million a year ago.
- Price Action: RDHL shares are up 2.02% at $0.78 during the market session on the last check Thursday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
RedHill Biopharma Shares Trading Higher On Improved Q1 Profitability
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks