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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 that CEO Raul Rodriguez will present a company overview at the 39th Annual J.P. Morgan Virtual Healthcare Conference on January 14, 2021, at 10:00 a.m. Eastern Time. The presentation will be accessible via Rigel's website. Rigel focuses on developing small molecule drugs for hematologic disorders, cancer, and rare immune diseases, with its first FDA-approved product being TAVALISSE. The company is also conducting multiple clinical trials, including studies on fostamatinib for treating COVID-19.
Rigel Pharmaceuticals (RIGL) announced that data on TAVALISSE (fostamatinib) will be showcased at the 62nd American Society of Hematology Annual Meeting from December 5-8, 2020. Key presentations include long-term safety data from over 3,500 patients with immune thrombocytopenia (ITP) and rheumatoid arthritis, showing no new safety signals. Additionally, the company will discuss results from a Phase 3 trial for warm autoimmune hemolytic anemia, where 44% of patients exhibited improved hemoglobin levels. Fostamatinib is the first SYK inhibitor approved for chronic ITP treatment.
Rigel Pharmaceuticals (Nasdaq: RIGL) and Medison Pharma announced Health Canada's approval of TAVALISSE® (fostamatinib disodium hexahydrate) for adults with chronic immune thrombocytopenia (ITP) who have not responded to other treatments. This marks a significant advancement as TAVALISSE is the only therapy targeting the underlying cause of ITP. Medison plans to launch the drug in Canada in Q1 2021, following the exclusive licensing agreement with Rigel. The approval aims to address the unmet medical need for new treatment options for ITP patients.
Rigel Pharmaceuticals (Nasdaq: RIGL) announced an agreement with the FDA regarding the final design of its pivotal Phase 3 trial for fostamatinib in warm autoimmune hemolytic anemia (AIHA). The trial will enroll approximately 90 patients, assessing durable response as the primary efficacy endpoint. As of November 5, 57 patients are enrolled across 90 sites in 22 countries. Fostamatinib, the only oral SYK inhibitor, is also approved for chronic immune thrombocytopenia and has received Orphan Drug designation for AIHA. Rigel aims to address the unmet medical need in this serious blood disorder.
Rigel Pharmaceuticals (Nasdaq: RIGL) announced that Raul Rodriguez, CEO, will present a company overview at the Jefferies Virtual London Healthcare Conference on November 17, 2020, at 12:00 p.m. Eastern Time. A live and archived webcast will be available on www.rigel.com. Rigel focuses on developing small molecule drugs for immune disorders, cancer, and rare diseases. Its FDA-approved product, TAVALISSE®, treats chronic immune thrombocytopenia. Rigel is also conducting studies for several additional conditions, including COVID-19.
Rigel Pharmaceuticals reported its Q3 2020 financial results, with total revenues of $18.4 million, a 39% increase from the previous year. Net product sales reached $16.3 million, fueled by strong sales of TAVALISSE for chronic immune thrombocytopenia. The company posted a net loss of $14.2 million, compared to a loss of $11.5 million in Q3 2019. Rigel is advancing multiple clinical trials, including Phase 3 studies for warm autoimmune hemolytic anemia and COVID-19. Cash reserves stood at $72.8 million as of September 30, 2020.
Rigel Pharmaceuticals will announce its third quarter 2020 financial results after market close on November 5, 2020. A live conference call will follow at 4:30 PM ET to discuss the results and provide a business update. Rigel is known for its FDA-approved product TAVALISSE, an oral SPLEN tyrosine kinase inhibitor for chronic immune thrombocytopenia. The company is involved in several clinical trials exploring treatments for autoimmune hemolytic anemia and COVID-19. Further information can be accessed through their website.
Rigel Pharmaceuticals announced the enrollment of the first patients in a Phase 2 trial to assess the safety of fostamatinib for hospitalized COVID-19 patients. This study, sponsored by the National Heart, Lung, and Blood Institute and conducted in collaboration with Inova Health System, is crucial for understanding the therapeutic potential of fostamatinib, which is already approved for chronic immune thrombocytopenia. The trial aims to evaluate safety and efficacy in approximately 60 patients requiring supplemental oxygen or ventilation. Results could significantly impact treatment approaches for COVID-19.
Rigel Pharmaceuticals (Nasdaq: RIGL) announced the initiation of a Phase 2 trial for fostamatinib, an oral SYK inhibitor, targeting hospitalized COVID-19 patients. Sponsored by the National Institutes of Health, the randomized, double-blind study will involve approximately 60 patients. The primary aim is to evaluate the safety of fostamatinib, while secondary objectives will assess early efficacy and disease progression measures. Fostamatinib is currently approved for chronic immune thrombocytopenia and is being explored for its potential to mitigate severe immune responses in COVID-19.
SOUTH SAN FRANCISCO, Calif., Sept. 9, 2020 /PRNewswire/ -- Rigel Pharmaceuticals (Nasdaq: RIGL) announced that CFO Dean Schorno will present at two virtual investor conferences in September. The H.C. Wainwright 22nd Annual Global Investment Conference is on September 15 at 1:00pm ET, while the Cantor Fitzgerald Virtual Global Healthcare Conference is on September 16 at 1:20pm ET. Interested parties can access the events live or view archived webcasts via Rigel's investor section on their website.
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