Rigel Pharmaceuticals Inc Stock Price, News & Analysis

Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) announced the grant of stock options totaling 469,000 shares to 23 new employees, approved by its Compensation Committee. These options, priced at $3.52 per share, vest over four years and were granted under the company's Inducement Plan following NASDAQ Listing Rule 5635(c)(4). Rigel focuses on developing novel small molecule drugs targeting hematologic disorders, cancer, and rare immune diseases. It also conducts several clinical trials, including studies for its first FDA-approved product, TAVALISSE, in various indications.

Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) announced participation in several virtual investor conferences in September 2021. CEO Raul Rodriguez will speak on a panel at Citi's 16th Annual Biopharma Conference on September 10, focusing on advancements in benign hematology. CFO Dean Schorno will present a company overview at the H.C. Wainwright Annual Global Investment Conference, available from September 13. Additionally, Rodriguez will present at the Cantor Fitzgerald Global Healthcare Conference on September 28. Details and webcasts can be found on Rigel's investor relations website.

Rigel Pharmaceuticals (Nasdaq: RIGL) announced the publication of Phase 2 clinical trial results for fostamatinib in treating hospitalized COVID-19 patients. Conducted in collaboration with NIH's NHLBI, the trial involved 59 patients and showed that fostamatinib, when added to standard care, led to fewer serious adverse events and improved clinical outcomes. Key findings indicated a reduction in mortality rates, ICU stay duration, and time on supplemental oxygen compared to placebo. A larger Phase 3 trial is set to further validate these findings.

Rigel Pharmaceuticals (Nasdaq: RIGL) announced that the FDA deemed clinical data from a Phase 2 trial of fostamatinib insufficient for emergency use authorization in treating hospitalized COVID-19 patients. Despite this setback, the FDA expressed willingness to collaborate on the development of fostamatinib, as Rigel pursues a larger Phase 3 trial involving 308 patients. The primary endpoint is to assess progression to severe disease within 29 days. Current enrollment is at approximately 176 patients, anticipated to conclude by year-end.

Rigel Pharmaceuticals (Nasdaq: RIGL) reported its Q2 2021 financial results, revealing total revenues of $26.3 million, primarily from TAVALISSE sales, which increased 14% year-over-year. The company incurred a net loss of $13.8 million, an improvement from the prior year's loss. Rigel is expanding its sales force from 39 to 55 territories and is advancing its pipeline, including a Phase 3 trial of fostamatinib in COVID-19 patients. Cash and equivalents reached $153.4 million as of June 30, 2021.

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.