RedHill Biopharma Higher Off Positive Phase III Results For BEKINDA

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RedHill Biopharma Ltd - ADR RDHL shares are trading higher by 68 cents (8 percent) at $10.15 in Wednesday's session.

The catalyst for the rally is positive Phase III results with BEKINDA for acute gastroenteritis.

See Also: RedHill Biopharma CEO Talks Steering His Company Through A Year Heavy With Potential Catalysts

After a higher open, RedHill retreated but found support just above the top of Tuesday's range ($9.71) at $9.80 and resumed its move higher. The ensuing rally has taken the stock to $10.64, which coincides with it April 21 high of $10.64.

It's now attempting to post its first close over $10.00 since May 23, when it ended that session at $10.11.

Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
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