aibioRedhill Biopharma gets 180 more days on Nasdaq bid price, to April 5, 2027
Tickers RDHL
Nasdaq gave Redhill Biopharma until April 5, 2027 to regain the $1.00 minimum bid price, in a letter dated October 6, 2026. The American Depositary Shares keep trading on The Nasdaq Capital Market as RDHL, but the company's cash was last reported at $2.9 million in mid-2025.
Key facts
- Company
- Redhill Biopharma Ltd. (NASDAQ: RDHL)
- News type
- Listings
- Primary source
- Redhill Biopharma Ltd. 6-K (2026-10-07)
The extension
Nasdaq's Listings Qualifications Department told RedHill Biopharma Ltd. in a letter dated October 6, 2026 that it had been granted an additional 180 calendar days, until April 5, 2027, to regain compliance with the $1.00 minimum bid price requirement in Nasdaq Listing Rule 5550(a)(2). The company disclosed the letter in a Form 6-K dated October 7, 2026.
The bid price history
On April 8, 2026, Nasdaq notified the company that the closing bid price of its American Depositary Shares had been below $1.00 for the prior 30 consecutive business days. Each ADS represents 10,000 ordinary shares. The first compliance period was 180 calendar days, ending October 5, 2026. The extension moves the deadline to April 5, 2027.
The 6-K gives no closing bid price for any day.
What compliance requires
To regain compliance, the ADSs must close at or above $1.00 for at least 10 consecutive business days before April 5, 2027. Nasdaq will then confirm compliance in writing and close the matter. The company says it meets the market value of publicly held shares requirement, and all other initial listing requirements for The Nasdaq Capital Market, apart from the bid price rule.
The company says it will keep monitoring the closing bid price and, if needed, consider available options before the additional period ends. It does not name those options.
The notice has no immediate effect on the listing. The ADSs continue to trade on The Nasdaq Capital Market under RDHL while the period runs.
The debt that was cleared
The company's annual report on Form 20-F describes how its debts were settled. On February 2, 2023, Redhill agreed with HCRM to extinguish its obligations under a Credit Agreement, in connection with the transfer of its Movantik rights to an affiliate of HCRM. HCRM assumed substantially all post-closing liabilities on Movantik. Redhill U.S. kept substantially all pre-closing liabilities, and HCRM took security interests in an escrow account and in other assets to secure those obligations.
On July 15, 2024, the parties signed a Global Termination Agreement. Redhill received approximately $9.9 million in cash in settlement of liabilities allocated to HCRM and its affiliates. The cash fell short of the net liabilities of approximately $12.2 million, so the company recognized a loss of about $2.3 million in other expenses. The agreement also removed the lien on Talicia and restored the company's control over cash collections.
Going concern and capital needs
The annual report says the company will need to raise significant additional capital to continue as a going concern. It states that current cash and cash equivalents are not sufficient to fund operations and meet payment obligations for more than one year from the date of the report. If it cannot raise money, it says it may have to reduce operations or divest assets. It names the "very low market capitalization" as a reason capital is harder to raise, and says failing Nasdaq's continued listing requirements would also hurt its ability to raise capital.
The at-the-market history
Redhill set up an at-the-market program in July 2021 with Cantor Fitzgerald & Co. and SVB Leerink LLC for up to $100.0 million of ADSs. SVB gave notice of termination as to itself on November 3, 2022, and Redhill ended the agreement with Cantor on April 4, 2024. It sold 1,378 ADSs for approximately $2.5 million in net proceeds before that.
The financial record
Revenue was $8.0 million in 2024, up from $6.5 million in 2023. Research and development expense fell to $1.6 million from $3.5 million. The company reported a net loss of $8.3 million for 2024, after net income of $23.9 million in 2023. Cash used in operations was $9.4 million in 2024, against $35.8 million in 2023.
Year-end cash and cash equivalents were $4.6 million at December 31, 2024, and $5.6 million a year earlier. The most recent balance in the records for this story is $2.9 million at June 30, 2025, more than a year before the notice.
What comes next
Redhill has until April 5, 2027 to show ADS closing bids at or above $1.00 for 10 consecutive business days. The filing gives no bid price, does not name a share consolidation and sets no decision date.