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 will announce its Q2 2021 financial results on August 3, 2021, after market close. A conference call will follow at 4:30 PM ET for a business update. Investors can access the call at 877-407-3088 (domestic) or 201-389-0927 (international). Rigel specializes in developing small molecule drugs for hematologic disorders, cancer, and rare immune diseases, with its first product, TAVALISSE, approved by the FDA for chronic immune thrombocytopenia.
Rigel Pharmaceuticals (Nasdaq: RIGL) announced that data from its clinical program for TAVALISSE (fostamatinib) will be presented at the ISTH Virtual Congress from July 17-21, 2021. Key findings reveal that long-term treatment with TAVALISSE results in increased platelet counts in patients with immune thrombocytopenia (ITP), with a 91% response rate after a year. Additionally, the need for rescue therapy decreased over time. TAVALISSE is the first SYK inhibitor approved for chronic ITP, helping patients with inadequate responses to previous therapies.
Rigel Pharmaceuticals (RIGL) announced that its oral spleen tyrosine kinase inhibitor, fostamatinib, has been selected for inclusion in the NIH ACTIV-4 trial, targeting COVID-19 treatment in hospitalized patients. This landmark trial aims to assess therapies that protect and heal host tissues affected by the virus. Previous Phase 2 studies indicated positive outcomes for fostamatinib, meeting primary safety endpoints and improving efficacy in mortality and ICU days. The trial will involve approximately 300 patients in a randomized and placebo-controlled setup.
Rigel Pharmaceuticals (Nasdaq: RIGL) announced that CEO Raul Rodriguez will present a company overview on June 2, 2021, at the Jefferies Virtual Healthcare Conference at 1:00 p.m. Eastern Time. Investors can access the live and archived webcast on Rigel's website.
Rigel focuses on developing innovative treatments for hematologic disorders, cancer, and rare immune diseases. Its FDA-approved product, TAVALISSE, treats chronic immune thrombocytopenia. The company is also conducting various clinical trials, including those for COVID-19.
Rigel Pharmaceuticals (Nasdaq: RIGL) announced the appointment of Dr. Alison L. Hannah to its Board of Directors. With over 30 years of experience in the pharmaceutical sector, she specializes in clinical development strategy for hematology and oncology, focusing on molecularly targeted therapies. Dr. Hannah has contributed to the regulatory approval of over 40 cancer treatments and served in key roles at various biotech firms. Her expertise is expected to enhance Rigel's clinical development initiatives as the company advances its hematology, immunology, and oncology programs.
Rigel Pharmaceuticals (RIGL) reported Q1 2021 financial results, showing net income of $39.5 million ($0.23 per share), an increase from $21.2 million in Q1 2020. Total revenues reached $81.0 million, primarily from contract revenues with Eli Lilly. TAVALISSE sales decreased 2% year-over-year to $12.4 million. The company announced positive Phase 2 trial data for fostamatinib in COVID-19 patients and a $16.5 million DOD funding for its Phase 3 study. Rigel also received a $125 million upfront payment from Eli Lilly for their collaboration on the RIP1 inhibitor program.
Rigel Pharmaceuticals, Inc. (Nasdaq:RIGL) will announce its first quarter 2021 financial results after market close on May 5, 2021. A live conference call and webcast will follow at 4:30 PM ET, where senior management will discuss the results and provide a business update. Participants can join the call by dialing 877-407-3088 (domestic) or 201-389-0927 (international). Rigel focuses on developing small molecule drugs for hematologic disorders and cancer, with its first product, TAVALISSE, already in market.
Rigel Pharmaceuticals (Nasdaq: RIGL) reported positive topline results from a Phase 2 clinical trial of fostamatinib, its SYK inhibitor, for hospitalized COVID-19 patients. The trial met its primary safety endpoint, halving the incidence of Serious Adverse Events (SAEs) compared to placebo. Key findings include zero deaths in the fostamatinib group versus three in placebo, and a four-day reduction in ICU stay. Rigel plans to pursue emergency use authorization (EUA) from the FDA based on these results, highlighting fostamatinib's potential to improve outcomes in severe COVID-19 cases.
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) announced the closing of a global exclusive license agreement with Eli Lilly on April 7, 2021. This strategic collaboration aims to co-develop Rigel's RIPK1 inhibitor, R552, for various autoimmune and inflammatory diseases. Effective March 27, 2021, Rigel received a $125 million upfront payment from Lilly. Lilly will oversee clinical development for CNS diseases. Rigel is also advancing its investigational product, fostamatinib, currently in multiple clinical trials for conditions including COVID-19 and autoimmune diseases.
Rigel Pharmaceuticals (Nasdaq: RIGL) has completed patient enrollment in a Phase 2 clinical trial evaluating fostamatinib, an oral spleen tyrosine kinase inhibitor, for hospitalized COVID-19 patients. This NIH-sponsored study, conducted at major clinical centers, involves 58 patients and aims to assess safety and efficacy through various endpoints over 60 days. Results are expected in April 2021. Fostamatinib is already approved for chronic immune thrombocytopenia treatment and may address complications from COVID-19, including thromboinflammation.
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