Redhill spikes — briefly — on positive Crohn's data; Daiichi inks global licensing deal with Glycotope
→ Shares of Israel’s Redhill BioPharma $RDHL spiked Monday morning — then quickly began to slide back — after the biotech laid out data demonstrating how their drug for Crohn’s disease edged out the placebo arm in their first Phase III study.
The drug is RHB-104, an antibiotic combination that was based on Redhill’s theory that Crohn’s is caused by a bacterial infection. In their Phase III researchers say that 37% of the patients in their drug arm achieved remission at 26 weeks, compared to a hefty 23% in the placebo group. That resulted in a positive p value of 0.013.
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