RedHill Biopharma (Nasdaq: RDHL). Founded 2009 by Dror Ben-Asher. Tel Aviv HQ, Raleigh operations. Talicia (H. pylori), opaganib (oncology/infectious disease). Cumberland co-commercialization. ~$8.9M Talicia US net revenue FY2025. Nasdaq $1 bid-price compliance deadline Oct 2026.
Israeli Health & Biotech | Olam.business
RedHill Biopharma is the Tel Aviv-headquartered specialty pharmaceutical company focused on gastrointestinal diseases, oncology, and infectious disease — the company behind the FDA-approved H. pylori treatment Talicia and the first-in-class sphingosine kinase-2 inhibitor opaganib. Founded in 2009 by Dror Ben-Asher. Listed on the Nasdaq Capital Market under the ticker RDHL.
At a Glance
| Entity | RedHill Biopharma Ltd. |
| Founded | 2009 |
| Founder | Dror Ben-Asher (CEO and Chairman) |
| Headquarters | Tel Aviv, Israel; US operations in Raleigh, North Carolina |
| Exchange | Nasdaq Capital Market: RDHL |
| Employees | 11–50 |
| Total raised | $307M+ across 23 funding rounds |
| Key approved product | Talicia (H. pylori first-line treatment) |
| Lead pipeline candidate | Opaganib (SPHK2 inhibitor — oncology, infectious disease) |
| FY 2025 Talicia US net revenue | ~$8.9M |
| Year-end 2025 cash | $4.1M; positive equity $4.3M |
The Founder
Dror Ben-Asher co-founded RedHill and serves as both CEO and Chairman of the Board. His background is corporate finance and pharmaceutical-sector transactions — he came out of ProSeed Capital, a European corporate finance boutique. Ben-Asher holds an M.Jur. from the University of Oxford and completed LL.M. studies at Harvard University, where he was a Fulbright Scholar focused on the pharmaceutical industry, an Olin Fellow for Law, Economics and Business, and a teaching fellow in Harvard's Economics Department. He received his LL.B. with First Class Honors from the University of Leicester.
Ben-Asher has led RedHill since inception. In July 2026, the company's AGM approved continuing his combined CEO/Chairman engagement for a further three-year term beginning August 6, 2026.
Talicia — The Approved Product
Talicia is RedHill's FDA-approved gastrointestinal drug for the treatment of Helicobacter pylori infection in adults. H. pylori affects approximately 35% of the US adult population and is the leading cause of peptic ulcer disease and a recognized risk factor for gastric cancer.
The product reached a commercial milestone in September 2024 when the American College of Gastroenterology listed Talicia as a first-line choice for H. pylori in its updated treatment guidelines. US formulary coverage has expanded to more than 204 million covered lives.
In October 2025, RedHill restructured Talicia's commercial model through a co-commercialization agreement with Cumberland Pharmaceuticals (Nasdaq: CPIX). Cumberland invested $4.0 million into Talicia Holdings, the joint vehicle, and took over direct US sales operations. The UK Marketing Authorization Application submission is described by management as imminent.
Opaganib — The Pipeline Anchor
Opaganib (ABC-294640) is RedHill's lead development-stage compound — a first-in-class, orally administered sphingosine kinase-2 (SPHK2) selective inhibitor with demonstrated anti-inflammatory, antiviral, metabolic, and anticancer activity.
The compound is advancing across multiple indications. A Bayer-supported Phase 2 combination study of opaganib and darolutamide in advanced prostate cancer began recruiting patients in mid-2025. Independent preclinical data presented at the 2026 AACR Annual Meeting showed positive effects of opaganib as a potential add-on therapy in high-risk neuroblastoma and triple-negative breast cancer.
The compound was also selected by the National Institute of Allergy and Infectious Diseases (NIAID) Radiation and Nuclear Countermeasures Program as a potential treatment for acute radiation syndrome. During the 2026 Bundibugyo ebolavirus outbreak, RedHill disclosed that opaganib had shown in vivo survival benefit in an Ebola virus study and was actively being positioned against the outbreak.
RHB-204 — The Crohn's Disease Bet
RedHill's second major pipeline program targets Crohn's disease through a novel mechanism — the first clinical study ever designed for a defined Mycobacterium avium subspecies paratuberculosis (MAP)-positive Crohn's disease patient population. The FDA has provided positive feedback on the pathway to approval, and RedHill has signed collaborations in MAP detection diagnostics to enable patient identification.
This program represents a fundamentally different approach to Crohn's disease — treating a defined infectious subset rather than the broad inflammatory population. If validated, it would establish the first causal-treatment approach for MAP-positive Crohn's patients.
Financial Position
RedHill's FY 2025 results, reported April 27, 2026, show US Talicia net revenues of approximately $8.9 million and ex-US revenues of approximately $1.9 million. Year-end cash stood at $4.1 million with positive equity of $4.3 million. A $10.5 million final New York Supreme Court judgment in RedHill's favor against Kukbo is under enforcement proceedings in Korea.
In early 2026, the company raised approximately $6 million through a private placement of ADSs and warrants at $0.70 per ADS, with up to $13.4 million in additional potential proceeds from warrant exercises.
On April 8, 2026, Nasdaq notified RedHill that its ADS bid price had traded below the $1.00 minimum for 30 consecutive business days. The company has until October 5, 2026, to regain compliance by posting 10 consecutive trading days at or above $1.00.
Where RedHill Sits in the Israeli Pharma Cohort
RedHill occupies a specific niche in the Israeli pharmaceutical landscape — a specialty pharma company with approved commercial products and a late-stage pipeline, but operating at micro-cap scale with persistent capital constraints. The company sits alongside other Israeli-listed specialty pharma names but operates at a different scale than Teva Pharmaceutical Industries, which anchors the sector, or the clinical-stage biotechs like Compugen and Pluri that are pursuing higher-risk, higher-potential programs.
The structural pattern is characteristic of the smaller Israeli pharma cohort: Tel Aviv R&D leadership, US commercial operations, Nasdaq listing, and a pipeline funded partly through government grants and strategic partnerships rather than pure venture capital.
Why RedHill Matters
Three reasons. First, the Talicia franchise — if the Cumberland partnership drives US penetration and the UK MAA succeeds, RedHill holds a first-line-guideline-endorsed product in one of the most prevalent GI infections globally. Second, the opaganib platform — a single compound with potential applications across oncology, infectious disease, and radiation countermeasures, supported by external funding from Bayer and US government agencies. Third, the MAP-positive Crohn's program — a genuinely novel approach that, if validated, would redefine treatment for a subset of Crohn's disease patients and establish RedHill as the anchor company in that niche.
The counterweight is financial: $4.1 million in cash, sub-$1 share price, and Nasdaq compliance risk create existential pressure that shapes every strategic decision the company makes.
FAQ
What does RedHill Biopharma do?
RedHill Biopharma develops and commercializes proprietary drugs for gastrointestinal diseases, oncology, and infectious diseases. Its FDA-approved product Talicia treats H. pylori infection in adults. Its lead pipeline compound opaganib targets multiple oncology and infectious disease indications.
Who founded RedHill Biopharma?
Dror Ben-Asher co-founded RedHill in 2009 and serves as both CEO and Chairman. He holds degrees from Oxford and Harvard and previously worked in European corporate finance.
Where is RedHill Biopharma headquartered?
Tel Aviv, Israel, with US commercial operations based in Raleigh, North Carolina.
What is Talicia?
Talicia is an FDA-approved first-line treatment for Helicobacter pylori infection in adults. It was listed as a first-line choice in the 2024 American College of Gastroenterology guidelines and now covers more than 204 million US lives through formulary agreements.
What is opaganib?
Opaganib is a first-in-class oral sphingosine kinase-2 inhibitor with anti-inflammatory, antiviral, and anticancer properties. It is in a Bayer-supported Phase 2 combination trial for prostate cancer and has shown preclinical activity in neuroblastoma, triple-negative breast cancer, Ebola, and acute radiation syndrome.
Is RedHill Biopharma profitable?
No. RedHill reported year-end 2025 cash of $4.1 million and positive equity of $4.3 million. The company is pre-profitability and relies on product revenues, licensing milestones, and capital raises to fund operations.
Is RedHill Biopharma at risk of Nasdaq delisting?
RedHill received a Nasdaq bid-price deficiency notice in April 2026 after its ADS traded below $1.00 for 30 consecutive business days. The company has until October 5, 2026, to regain compliance.
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