RedHill Biopharma (RDHL) said Monday that the US has issued a new patent for identifying a novel biomarker of coronavirus pneumonia prognostic for potential opaganib efficacy for the treatment of COVID-19.

The patent from the US Patent and Trademark Office would be granted on Oct. 15 and be valid through 2041, the company said.

The patent is based on post-hoc data from opaganib's phase 2/3 study that showed that patients with up to 60% fraction of inspired oxygen levels had better outcomes at day 14 of opaganib treatment compared with placebo, RedHill said.

The outcomes include more patients no longer requiring supplemental oxygen by day 14, a reduction in intubation/mechanical ventilation, and a "clinically meaningful" reduction in mortality, the company said.

Shares of RedHill were up 2.8% in premarket activity on Monday.

Price: 8.87, Change: +0.24, Percent Change: +2.82