TEL-AVIV, Israel, Jan. 10, 2017 (GLOBE NEWSWIRE) — RedHill Biopharma Ltd. (NASDAQ:RDHL) (TASE:RDHL) (“RedHill” or the “Company”), a specialty biopharmaceutical company primarily focused on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for gastrointestinal and inflammatory diseases and cancer, today announced the exercise, in the last week, of stock options to purchase an aggregate of 1,700,000 ordinary shares (equivalent to 170,000 American Depositary Shares (“ADSs”)) by members of the Company’s Board of Directors, senior management and Advisory Board.
The exercise of stock options during the last week resulted in net proceeds to the Company of approximately $0.6 million. The shares underlying the stock options have been issued and are expected to be registered shortly. Following issuance of the ordinary shares underlying these stock options, the total number of outstanding ordinary shares of the Company is 168,005,274 (equivalent to 16,800,527 ADSs). None of the ordinary shares underlying these stock options have been sold.
SOURCE : RedHill Biopharma Ltd.
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