RedHill Biopharma (RDHL) Withdrawals Share Offering

November 2, 2016 9:21 AM EDT

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RedHill Biopharma Ltd. (NASDAQ: RDHL) announced that it has withdrawn the proposed underwritten public offering of its American Depositary Shares due to market conditions.

The Company believes that it is not in the best interest of its stockholders to raise the equity capital in the current market environment. RedHill’s cash position at the end of the third quarter of 2016 was approximately $40.5 million.

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