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 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.
Rigel Pharmaceuticals (Nasdaq: RIGL) announced that CEO Raul Rodriguez will participate in a panel discussion on COVID-19 during Citi's 15th Annual BioPharma Virtual Conference on September 9, 2020. The panel, titled State of Play for COVID-19 Therapeutics, will take place at 9:50 a.m. Eastern Time. Interested parties can access the live or archived webcast through the Investor Relations section of Rigel's website. Rigel focuses on developing novel drugs for immune disorders and has a product, TAVALISSE, approved for chronic immune thrombocytopenia.
Rigel Pharmaceuticals (Nasdaq: RIGL) announced the granting of 250,000 stock options to new EVP and Chief Commercial Officer David A. Santos, in accordance with NASDAQ Listing Rule 5635(c)(4). These options will vest over four years with a one-year cliff, alongside an additional 250,000 options contingent on future performance achievements. The exercise price aligns with Rigel's stock price on August 19, 2020. Rigel is focused on developing innovative small molecule drugs for immune and hematologic disorders, having FDA-approved TAVALISSE for chronic immune thrombocytopenia.
Rigel Pharmaceuticals (Nasdaq: RIGL) reported its Q2 2020 financial results, showing revenues of $16.0 million, a 47% increase from Q2 2019. The company reported a net loss of $17.6 million, narrowing from $20.6 million year-over-year. TAVALISSE sales growth continued as the drug became available in European markets. Rigel is advancing trials for TAVALISSE in COVID-19 pneumonia in collaboration with Imperial College London, leveraging its active metabolite R406, which shows promise in reducing inflammation in COVID-19 patients.
Rigel Pharmaceuticals, Inc. (Nasdaq:RIGL) will disclose its second quarter 2020 financial results on August 4, 2020, after market close. Following the announcement, a live conference call will be held at 4:30pm ET to discuss the results and business updates. Interested participants can join by dialing (877) 407-3088 (domestic) or (201) 389-0927 (international). Rigel focuses on developing innovative small molecule drugs for immune and hematologic disorders. Their lead product, TAVALISSE, is approved for chronic immune thrombocytopenia.
On July 27, 2020, Rigel Pharmaceuticals (Nasdaq: RIGL) announced the publication of a post-hoc data analysis of TAVALISSE in the British Journal of Haematology. This analysis highlights a 78% response rate in adult patients with chronic immune thrombocytopenia (ITP) receiving TAVALISSE as a second-line therapy. Adverse events were manageable and consistent with previous reports. The findings suggest a potential shift in treatment paradigms, emphasizing the need for novel options in ITP management, as existing treatments are often insufficient for many patients.
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