RedHill Biopharma Files 6-K with SEC

TL;DR

RHBP filed a 6-K, likely with news. Check the press release.

AI Summary

RedHill Biopharma Ltd. filed a Form 6-K on August 16, 2024, to report information as a foreign private issuer. The filing incorporates by reference a press release, the title of which indicates an announcement from RedHill Biopharma.

Why It Matters

This filing serves as an official notification to the SEC and investors about important company updates, potentially impacting the company's stock.

Risk Assessment

Risk Level: low — A 6-K filing is a routine report for foreign private issuers and doesn't inherently signal high risk.

Key Players & Entities

• RedHill Biopharma Ltd. (company) — Registrant
• 001-35773 (company) — SEC File Number
• 21 Ha'arba'a Street, Tel Aviv, 6473921, Israel (company) — Principal executive offices address

FAQ

Filing Documents

• zk2431879.htm (6-K) — 27KB
• image00001.jpg (GRAPHIC) — 32KB
• 0001178913-24-002665.txt ( ) — 72KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. REDHILL BIOPHARMA LTD. (the "Registrant") Date: August 16, 2024 By: /s/ Dror Ben-Asher Name: Dror Ben-Asher Title: Chief Executive Officer Press Release RedHill Biopharma Announces Plan to Implement ADS Ratio Change TEL AVIV, Israel and RALEIGH, NC, August 16, 2024, RedHill Biopharma Ltd. (Nasdaq: RDHL) ("RedHill" or the "Company"), a specialty biopharmaceutical company, today announced that it plans to implement a ratio change of the Company's American Depositary Shares (ADSs) to its non-traded ordinary shares from the current ratio of one (1) ADS representing four hundred (400) ordinary shares to a new ratio of one (1) ADS representing ten thousand (10,000) ordinary shares. The anticipated first date of the ratio change is on or about August 20, 2024, and the Company's ADSs will continue to be traded on the Nasdaq Capital Market ("Nasdaq") under the symbol "RDHL" with a new CUSIP Number 757468301. For ADS holders, the ratio change will have the same effect as a one-for-25 reverse ADS split. No new ADSs will be issued in connection with the change in the ADS ratio. ADS holders will not be required to take any action and, on the effective date, the Bank of New York Mellon, the depositary bank for RedHill's ADS program, will arrange for the exchange of every twenty-five (25) existing ADSs held for one (1) new ADS. No fractional new ADSs will be issued in connection with the change in the ADS ratio. Instead, fractional entitlements to new ADSs will be aggregated, and the depositary bank will attempt to sell them with the net cash proceeds from the sale of the fractional ADS entitlements to be distributed to the applicable ADS holders by the depositary bank. On March 14, 2024, the Company reported that it had received notification from the Nasdaq Capital Ma

Forward-Looking Statements

Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and may discuss investment opportunities, stock analysis, financial performance, investor relations, and market trends. Such statements, including, but not limited to, statements regarding the potential effects from the ratio change, may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words and include statements regarding the risk that the Company will not comply with the listing requirements of Nasdaq to remain listed for trading on Nasdaq, timing of opaganib's development for Acute Radiation Syndrome, non-dilutive development funding from RHB-107 and its inclusion in a key platform study. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control and cannot be predicted or quantified, and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation: market and other conditions; the timing, consummation and impact of the ratio change; the Company's ability to regain compliance with Nasdaq's minimum bid price requirements; the risk that the addition of new revenue generating products or out-licensing transactions will not occur; the risk that acceptance onto the RNCP Product Development Pipeline will not guarantee ongoing development or that any such development will not be completed or successful; the risk that the FDA does not agree with the Company's proposed development plans for opaganib for any indication, the risk that observations from preclinical studies are not indicative or predictive of results in clinical trials; the risk that the FDA pre-stu

View Full Filing

View this 6-K filing on SEC EDGAR