RHB-204 is a small molecule commercialized by RedHill Biopharma, with a leading Phase III program in Mycobacterium Infections. According to Globaldata, it is involved in 1 clinical trial, which is ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of RHB-204’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for RHB-204 is expected to reach an annual total of $52 mn by 2031 globally based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.

RHB-204 Overview

RHB-204 is under development for the treatment of pulmonary non-tuberculous mycobacteria (NTM) caused by Mycobacterium avium complex (MAC) infections. The drug candidate is a fixed-dose combination of rifabutin, clarithromycin and clofazimine, formulated as  capsule and administered through oral route. Rifabutin is an antibiotic that targets DNA-dependent RNA polymerase activity in susceptible cells. Clarithromycin binds to the 50S ribosomal subunit and targets RNA-dependent protein synthesis in susceptible organisms. Clofazimine targets mycobacterial growth and binds preferentially to mycobacterial DNA.

RedHill Biopharma Overview

RedHill Biopharma (RedHill) is a specialty biopharmaceutical company that develops and commercializes therapeutics for gastrointestinal (GI) diseases and cancer. The company’s commercial product portfolio consists of branded prescription drugs including a combination of omeprazole, amoxicillin and rifabutinomeprazole; naloxegol; and rifamycin. It is investigating its pipeline candidates for the treatment of Crohn’s disease, non-tuberculous mycobacterial infection (NTM) infections, gastroenteritis, gastritis, irritable bowel syndrome with diarrhea (IBS-D), bowel cleanser, cancer and novel coronavirus disease (COVID-19). The company has a subsidiary in the US. RedHill is headquartered in Tel Aviv, Israel.

The company reported revenues of (US Dollars) US$85.8 million for the fiscal year ended December 2021 (FY2021), an increase of 33.2% over FY2020. The operating loss of the company was US$81.1 million in FY2021, compared to an operating loss of US$63.7 million in FY2020. The net loss of the company was US$97.7 million in FY2021, compared to a net loss of US$76.2 million in FY2020. The company reported revenues of US$17.6 million for the third quarter ended September 2022, a decrease of 4.3% over the previous quarter.

For a complete picture of RHB-204’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.


GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.

The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.