Rigel Pharmaceuticals Inc Stock Price, News & Analysis

Rigel Pharmaceuticals announced the publication of Phase 2 clinical study data on fostamatinib for treating warm antibody autoimmune hemolytic anemia (wAIHA) in the American Journal of Hematology. The study showed that 50% of treated patients achieved significant hemoglobin increases, indicating potential as a first approved therapy for wAIHA. Fostamatinib is also recognized with Orphan Drug and Fast Track designations by the FDA. The company aims for regulatory approval in 2023, as no targeted therapies currently exist for wAIHA patients.

Rigel Pharmaceuticals (RIGL) reported its fourth-quarter and full-year 2021 financial results, highlighting a net loss of $22.6 million for Q4 and $17.9 million for the year. Q4 revenues were $20.4 million, a slight decline in TAVALISSE sales. The company completed enrollment for two pivotal Phase 3 trials in autoimmune conditions and COVID-19, with results expected mid-2022. Rigel aims to expand TAVALISSE's market to include warm autoimmune hemolytic anemia (wAIHA) and COVID-19, potentially increasing its product offerings.

Rigel Pharmaceuticals, Inc. (Nasdaq:RIGL) will report its fourth quarter and year-end 2021 financial results on March 1, 2022, after market close. A live conference call and webcast will follow at 4:30 PM ET for management to discuss the results and provide business updates. Rigel, known for its TAVALISSE product, focuses on developing drugs for hematologic disorders and rare diseases. The company is also conducting various clinical trials for treatments in autoimmune and COVID-19-related conditions.

Rigel Pharmaceuticals will present at the 40th Annual J.P. Morgan Healthcare Conference on January 12, 2022, at 10:30 a.m. ET. CEO Raul Rodriguez will provide a comprehensive overview of the company.

Interested parties can access the live webcast on Rigel's website. Rigel focuses on novel small molecule drugs for various diseases, with its FDA-approved product TAVALISSE for chronic immune thrombocytopenia.

The company is also progressing in clinical trials for multiple conditions, including COVID-19 and autoimmune diseases.

Rigel Pharmaceuticals (Nasdaq: RIGL) provided a business update on January 10, 2022, highlighting a preliminary total revenue of approximately $20.4 million for Q4 2021. The company reported 6,787 bottles of TAVALISSE sold in 2021, up 8% from 2020. Rigel is advancing its clinical pipeline, including a Phase 3 trial in warm autoimmune hemolytic anemia (wAIHA) and a COVID-19 study, with topline data expected in mid-2022. The company also expects cash reserves of about $124.9 million as of year-end 2021, a significant increase from $57.3 million in 2020.

Rigel Pharmaceuticals (Nasdaq: RIGL) announced the grant of stock options for 610,000 shares to 14 new employees, effective January 6, 2022. This grant, approved by the Compensation Committee, aligns with NASDAQ Listing Rule 5635(c)(4). The options feature an exercise price of $2.62 per share and will vest over four years. Rigel, dedicated to developing treatments for hematologic disorders and rare diseases, continues its clinical trials for products like TAVALISSE, currently investigating treatments for conditions including autoimmune hemolytic anemia and COVID-19.

Rigel Pharmaceuticals announced positive topline results from its collaboration with Kissei Pharmaceutical, revealing that fostamatinib significantly outperformed placebo in a Phase 3 clinical trial for chronic immune thrombocytopenia (ITP) in Japan. The trial involved 34 patients, with successful platelet responses defined as ≥50,000 platelets per μL on four of the last six visits. The safety profile was consistent with prior studies. Fostamatinib, sold as TAVALISSE in the U.S., has Orphan Drug Designation in Japan and offers potential new treatment options for approximately 17,000 ITP patients.

Rigel Pharmaceuticals has appointed Kamil Ali-Jackson to its Board of Directors, effective January 3, 2022. Ali-Jackson brings nearly 40 years of experience in the biopharmaceutical sector, with a focus on licensing and M&A transactions. She currently serves as chief legal officer at Aclaris Therapeutics, which she co-founded.

CEO Raul Rodriguez praised her extensive background, emphasizing its potential to enhance Rigel's growth in hematology, oncology, and immunology therapies. Rigel is known for its drug TAVALISSE, aimed at treating chronic immune thrombocytopenia.

Rigel Pharmaceuticals (Nasdaq:RIGL) announced a strategic shift on November 15, 2021, focusing on mid to late-stage development programs and commercial efforts while exiting early-stage research. The company plans to enhance shareholder value through increased ITP sales, expanding TAVALISSE for warm autoimmune hemolytic anemia and COVID-19, and advancing its IRAK1/4 program. A workforce reduction of 16% is expected to generate annual savings between $11 to $15 million starting in 2022, with an upfront one-time severance charge of approximately $3.3 million.