Welcome to our dedicated page for Rigel Pharmaceuticals (New) news (Ticker: RIGL), a resource for investors and traders seeking the latest updates and insights on Rigel Pharmaceuticals (New) stock.
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) is a leading biotechnology company based in South San Francisco, California, dedicated to discovering, developing, and providing novel therapies that significantly improve the lives of patients with immune and hematologic disorders, cancer, and rare diseases. Established in 1996, Rigel has built a solid reputation in the pharmaceutical industry by focusing on the development of small-molecule drugs.
The company's flagship product, TAVALISSE (fostamatinib disodium hexahydrate) tablets, is the only oral spleen tyrosine kinase (SYK) inhibitor approved for the treatment of thrombocytopenia in adult patients with chronic immune thrombocytopenia (ITP) who have had an insufficient response to a previous treatment.
REZLIDHIA (olutasidenib), another key product, is an oral small-molecule inhibitor of mutant isocitrate dehydrogenase-1 (mIDH1), indicated for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible IDH1 mutation.
Rigel's pipeline includes a variety of promising candidates such as R289, an IRAK1/4 dual inhibitor for the treatment of lower-risk myelodysplastic syndrome (LR-MDS), R552, R835, THF-beta Inhibitors, and AZD0449 - an inhaled JAK inhibitor. The company is also exploring the potential of olutasidenib in high-grade glioma (HGG) through a collaboration with CONNECT, an international network of pediatric cancer centers.
Recent financial highlights include a reported net product sales of $104.3 million in 2023, showcasing a significant growth of 36% over the previous year. Rigel's partnership with major pharmaceutical companies like AstraZeneca for their rheumatoid arthritis drug and Grifols S.A. for delivery of drug supplies reinforces their strong market position.
In 2024, Rigel announced the acquisition of U.S. rights to GAVRETO (pralsetinib), a kinase inhibitor approved for treating metastatic RET fusion-positive non-small cell lung cancer (NSCLC) and advanced or metastatic RET fusion-positive thyroid cancer. This acquisition aligns with Rigel's strategy to expand its hematology and oncology portfolio, leveraging its existing commercial infrastructure.
Rigel continues to focus on commercial execution, strategic collaborations, and advancing its robust pipeline to reach financial breakeven and deliver transformative treatments to underserved patient populations.
Rigel Pharmaceuticals (NASDAQ: RIGL) announced initial data from its ongoing Phase 1b study of R289 in lower-risk myelodysplastic syndrome (LR-MDS) patients. The study showed promising results with 40% of evaluable transfusion-dependent patients receiving R289 doses ≥500 mg QD achieving red blood cell transfusion independence or hematologic improvement.
The trial enrolled 22 patients with a median age of 76 years. R289 was generally well-tolerated, with most common side effects being Grade 1/2 diarrhea and fatigue. Three patients achieved RBC transfusion independence ≥8 weeks, with two maintaining it for >24 weeks. The median duration of RBC transfusion independence was 29 weeks.
The FDA recently granted Fast Track designation for R289 in previously-treated transfusion-dependent LR-MDS patients.
Rigel Pharmaceuticals (Nasdaq: RIGL) announced that the FDA has granted Fast Track designation to R289 for treating patients with previously-treated transfusion dependent lower-risk myelodysplastic syndrome (LR-MDS). R289, a dual inhibitor of IRAK1 and IRAK4, is currently being evaluated in a Phase 1b study. The Fast Track designation may provide benefits including more frequent FDA interactions and eligibility for Accelerated Approval and Priority Review. The drug works by blocking inflammatory cytokine production in response to toll-like receptor and interleukin-1 receptor family signaling, targeting the pro-inflammatory environment in bone marrow responsible for persistent cytopenias in lower-risk MDS patients.
Rigel Pharmaceuticals (Nasdaq: RIGL) has announced that CFO Dean Schorno will present a company overview at the Jefferies London Healthcare Conference on Tuesday, November 19, at 9:30 am GMT (4:30 am EST). The presentation will be accessible via live webcast through the Investor Relations section of Rigel's website.
Founded in 1996 and based in South San Francisco, Rigel is a commercial stage biotechnology company focusing on developing therapies for hematologic disorders and cancer. The company aims to discover, develop, and provide novel treatments that improve patients' lives.
Rigel Pharmaceuticals reported strong Q3 2024 financial results with total revenue of $55.3 million, including TAVALISSE net sales of $26.3 million (8% growth), REZLIDHIA net sales of $5.5 million (107% growth), and GAVRETO net sales of $7.1 million. The company secured a $10 million upfront payment from Kissei for REZLIDHIA development rights in Japan, Korea, and Taiwan. Rigel achieved Q3 net income of $12.4 million ($0.71 per share) compared to a net loss of $5.7 million in Q3 2023. Cash position strengthened to $61.1 million as of September 30, 2024.
Rigel Pharmaceuticals (RIGL) announced six poster presentations at the upcoming ASH Annual Meeting, featuring data from their hematology-oncology portfolio. Key highlights include initial results from a Phase 1b study of R289 in lower-risk MDS patients, showing 36% achieved RBC-transfusion independence at doses ≥500 mg QD. The presentations also include data on REZLIDHIA (olutasidenib) in mIDH1 AML patients, demonstrating durable responses when combined with azacitidine, and TAVALISSE (fostamatinib) real-world outcomes in ITP treatment.
Rigel Pharmaceuticals (Nasdaq: RIGL) has scheduled its third quarter 2024 financial results announcement for Thursday, November 7, 2024, after market close. The company will host a live conference call and webcast at 4:30 p.m. Eastern Time to discuss financial results and provide a business update. Participants can join via phone (877-407-3088 domestic, 201-389-0927 international) or through the webcast available on Rigel's website. The webcast recording will be accessible for 90 days after the call.
Rigel Pharmaceuticals (RIGL) announced the issuance of a Dear Health Care Provider (DHCP) letter regarding a new safety signal for GAVRETO® (pralsetinib), following FDA consultation. GAVRETO is approved for treating adult patients with metastatic RET fusion-positive non-small cell lung cancer and certain thyroid cancer patients. The letter has been posted to the GAVRETO Healthcare Provider website. The company emphasizes patient safety as its highest priority and encourages healthcare providers and patients to report adverse events to Rigel's Medical Communications Center or directly to the FDA.
Rigel Pharmaceuticals (Nasdaq: RIGL) has announced the granting of inducement awards under its Inducement Plan, as approved by the Compensation Committee of Rigel's Board of Directors. These awards were granted as an inducement for employees entering into employment with Rigel, in compliance with NASDAQ Listing Rule 5635(c)(4).
The company has granted 35,944 stock options to fifteen non-executive employees. These options will vest over a four-year period with a one-year cliff. Rigel, founded in 1996 and based in South San Francisco, California, is a biotechnology company focused on discovering, developing, and providing novel therapies for patients with hematologic disorders and cancer.
Rigel Pharmaceuticals (Nasdaq: RIGL), a biotechnology company focused on hematologic disorders and cancer, announced its participation in the 2024 Cantor Global Healthcare Conference. CEO Raul Rodriguez will present a company overview on September 19, 2024, at 9:10 am ET in New York.
The presentation will be accessible via live webcast through Rigel's Investor Relations website. Founded in 1996 and based in South San Francisco, Rigel is dedicated to developing novel therapies for patients with hematologic disorders and cancer. Investors can access more information about Rigel's products and pipeline on their official website.
Rigel Pharmaceuticals (Nasdaq: RIGL) has announced the enrollment of the first patient in a Phase 1b/2 triplet therapy trial combining REZLIDHIA® (olutasidenib) with decitabine and venetoclax for mutated isocitrate dehydrogenase-1 (mIDH1) acute myeloid leukemia (AML). This trial, conducted in partnership with MD Anderson Cancer Center, marks the beginning of Rigel's strategic development alliance. The study aims to evaluate the safety, tolerability, and efficacy of this combination in both newly diagnosed and relapsed/refractory mIDH1 AML patients. REZLIDHIA is an oral, small-molecule inhibitor of mIDH1, already approved for relapsed or refractory mIDH1 AML. The trial's primary objective is to determine complete remission rates in 60 patients across two cohorts.
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