Rigel Pharmaceuticals Inc Stock Price, News & Analysis

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.

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.