RedHill Biopharma (RDHL) said Monday the New York Supreme Court has upheld its original summary judgment ruling and $10 million award in favor of RedHill, dismissing Kukbo's defense and affirming the lower-court ruling that it was in breach of both the original subscription agreement and subsequent exclusive license agreements.

RedHill's award is made up of the $8.25 million original award and a subsequent $1.82 million award for legal costs and expenses, the company said.

Kukbo retains the right to further appeal the Court's ruling.

Kukbo did not immediately respond to MT Newsires' request for comment.

Shares of RedHill gained more than 32% in recent premarket activity Monday.

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