Revenue-generating with an Exciting Pipeline

TEL AVIV, Israel and RALEIGH, N.C., April 10, 2025 /PRNewswire/ -- RedHill Biopharma Ltd. (NASDAQ: RDHL) ("RedHill" or the "Company"), a specialty biopharmaceutical company, today reported its full-year 2024 financial results and operational highlights along with the filing of its annual report on Form 20-F for the year ended December 31, 2024.

Dror Ben-Asher, RedHill's Chief Executive Officer, said: "We have undergone an extensive overhaul reshaping ourselves financially, operationally and strategically. Major corporate and R&D moves, undertaken over the last 12 months, have resulted in new and clearer opportunities to deliver maximum value from both our commercial and R&D assets."

Recent highlights include:

• The potential $60 million ex-North America global license of RHB-102 to Hyloris, laying groundwork for development in gastroenteritis, oncology support, and IBS-D markets.
• An $8 million plus legal costs New York Supreme Court summary judgment win, and ongoing commitment to pursue collection of this award.
• ACG Clinical Guideline recommendation for Talicia as a first-line therapeutic option for H. pylori eradication enhancing its product profile.
• Significant expansions in covered lives for Talicia after securing formulary successes.
• Talicia poised for UK Marketing Authorisation Application mid-year, presenting a promising pathway for entry into additional global markets.

Financial Results Overview

Net Revenues:

For the year ended December 31, 2024, net revenues were $8.0 million, an increase from $6.5 million in 2023. Revenue from Talicia rose to $9.0 million from $8.8 million, driven by approximately $1.0 million from a partnership with Gaelan Medical in the UAE.

Cost of Revenues:

Cost of revenues decreased to $3.2 million in 2024 from $3.5 million in 2023 due to lower inventory write-downs.

Gross Profit:

Gross profit for the year ended December 31, 2024, was $4.9 million, an increase from $3.1 million in 2023.

R&D Expenses:

R&D expenses were $1.6 million, a notable drop compared to $3.5 million for the previous year, reflecting completed trials and cost-reduction measures.

G&A Expenses:

General and administrative expenses were reduced to $15.5 million in 2024 from $31.0 million, mainly due to cost-reduction measures.

Net Loss:

The net loss for the year ended December 31, 2024, was $8.3 million, compared to a net income of $23.9 million in 2023.

Commercial and R&D Highlights

RedHill remains focused on advancing innovative development pipelines in diverse therapeutic areas, including Crohn's disease, prostate cancer, and infectious diseases. The company notes key developments such as:

• Opaganib's advancement with a Bayer-supported Phase 2 study for prostate cancer.
• RHB-204's development of a potentially groundbreaking treatment for Crohn's disease.
• Engagement in proactive cash management and operational adjustments informed by ongoing market conditions.

Annual Report Availability

The Company's annual report on Form 20-F for the year ended December 31, 2024, has been filed with the U.S. Securities and Exchange Commission and is available on the SEC website and the Company’s investor relations site here.

Company contact:

Adi Frish
Chief Corporate and Business Development Officer
RedHill Biopharma
+972-54-6543-112
info@redhillbio.com