TEL AVIV, Israel, August 20, 2013 /PRNewswire/ --
In a report published on July 29, Bioassociate reiterated a Buy rating on RedHill Biopharma (NASDAQ: RDHL) (TASE: RDHL), and maintained the ADS price target of $14.9. The report contains a detailed discussion of RedHill's pipeline advancements during the second quarter of 2013 and adjusted cash flows. The Q2 update valuation report is available at:
In the report, Bioassociate noted, "In the last quarter RedHill Biopharma has progressed its clinical programs in many aspects and is on schedule to achieve the 2013 goals. A February 3 2014 PDUFA date has been set for RHB-103, and an NDA submission of RHB-102 is expected during Q1 2014 as well. In addition, the R&D and regulatory paths for RHB-101 have been clarified by RedHill, with regulatory filling planned for H2 2014. Given the multiple milestones approaching and the company being on-track with the clinical programs' timelines, we reiterate our BUY recommendation and our target price of $14.9 per RedHill ADS."About Bioassociate Bioassociate is an independent investment research firm specialized in the life-science sector. Bioassociate helps inform readers about small-mid cap life science companies without extensive analyst coverage. Bioassociate structures its teams with multidisciplinary members to conduct specific assignments. The Bioassociate team has industry experience as well as consulting and research track record, providing investors with in-depth scientific insights and their financial manifestation. Disclosure: The research report described in this press release is not constructed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer would be illegal. Bioassociate is not soliciting any action based upon this material. It does not take into account the particular investment objectives, financial situation, risk profile or other needs of individual investors. Before acting on any advice or recommendation in this material, an investor should consider whether it is suitable for his/her particular circumstances and, if necessary, seek professional advice. The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should be relied upon as such. Opinions expressed are Bioassociate's current opinions as of the date appearing on this material only; such opinions are subject to change without notice. RedHilll is a client of Bioassociate and is paying Bioassociate a cash fee for Bioassociate's services, which include the preparation of equity research and valuation reports. The research report is based on public information and on information provided by RedHill, which according to RedHill is available publicly.