Here's Why RedHill Biopharma Jumped on Monday
Shares of RedHill Biopharma (NASDAQ: RDHL), a biopharmaceutical company focused on gastrointestinal diseases, jumped 23.6% when the stock market opened today, and an FDA approval announcement for Talicia was the spark that lit the fuse. Enthusiasm for the specialty pharma stock did not get any stronger, though, and most of today's gains have already been erased. RedHill shares were up 11.1% as of 12:22 p.m. EST on Monday.
Talicia is a combination of three well-known drugs in an extended-release capsule for treating digestive systems that are suffering from Helicobacter pylori infections. The company combined the proton pump inhibitor omeprazole with amoxicillin and rifabutin, a well-known pair of antibiotics.
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Source Fool.com
