RedHill Biopharma: Net revenues for Q1-18 are lower than estimated; RedHill will have to raise capital in anticipation of its announcement of top-line Phase III results for Crohn’s disease, expected in mid-2018; target price remains at NIS 2.59

RedHill announces top-line results from Phase III study of RHB-104 in Crohn’s Disease; cash balance improved with $25M (gross) raised at a discount; Top-line results for TALICIA® (RHB-105) – H. pylori infection expected by the end of 2018; target price reduced to NIS 2.23