RedHill Biopharma (RDHL) H1 2026 earnings summary

Executive summary

• Strategic portfolio reset added exclusive commercialization rights to Rebyota and Clenpiq for $12M upfront, funded by the $18M upfront Talicia divestment proceeds.

• Rebyota and Clenpiq generated a combined $37.5M in 2025 net sales under Ferring; the portfolio is supported by an established U.S. GI commercial infrastructure.

• H1 2026 priorities included transitioning the two products and advancing oncology, Crohn’s disease, Ebola and other GI development programs.

Financial highlights

• Continuing-operations revenue was $0 in H1 2026 vs. $0.3M in H1 2025, generated from the RHB-102 license agreement.

• Operating loss was $4.1M vs. $3.4M; net loss was $6.1M vs. $4.1M in H1 2025.

• Net financial expense was $1.6M vs. $0.5M net financial income in H1 2025, mainly reflecting warrant issuance costs and derivative fair-value adjustments.

Outlook and guidance

• Priorities for H2 2026 and beyond include smooth product transitions, commercial growth, further complementary product additions and continued R&D progress.

• Opaganib remains in a Bayer-supported Phase 2 prostate cancer study; recruitment continues, while the RHB-204 Crohn’s program is Phase 2-ready.

• RHB-102 development includes GI intolerance associated with GLP-1/GIP therapies; a Phase 2-ready proof-of-concept study is planned.