Welcome to our dedicated page for Rigel Pharmaceuticals news (Ticker: RIGL), a resource for investors and traders seeking the latest updates and insights on Rigel Pharmaceuticals stock.
Rigel Pharmaceuticals reports news on a commercial-stage biotechnology business focused on hematologic disorders and cancer. Company updates commonly cover sales of TAVALISSE (fostamatinib disodium hexahydrate), GAVRETO (pralsetinib) and REZLIDHIA (olutasidenib), along with contract revenue from collaborations and quarterly operating results.
Recurring developments also include clinical and regulatory updates for Rigel's pipeline, including R289 in lower-risk MDS, published clinical data involving GAVRETO, licensing and collaboration activity, board appointments, equity inducement grants and other governance matters tied to its Nasdaq-listed common stock.
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.
Rigel Pharmaceuticals (Nasdaq:RIGL) announced participation in two virtual investor conferences in November 2021. Dean Schorno, CFO, will present at the Jefferies Virtual London Healthcare Conference on November 18, with an on-demand overview available from 8:00 a.m. GMT. He will also join a fireside chat at the Piper Sandler 33rd Annual Virtual Healthcare Conference running from November 29 to December 2, with access starting November 22 at 10:00 a.m. ET. Details are available on Rigel's website.
Rigel Pharmaceuticals (Nasdaq: RIGL) reported Q3 2021 results with net product sales of $16.0 million, down 2% year-over-year. The third quarter net loss was $21.0 million or $0.12 per share, compared to a loss of $14.2 million last year. Rigel completed enrollment in its FORWARD study for wAIHA with topline data expected in mid-2022. The company expanded its sales force from 39 to 55 managers to enhance market presence. Total revenue for the nine months reached $128.8 million, reflecting a 3% increase in TAVALISSE sales.
Rigel Pharmaceuticals will announce its third quarter 2021 financial results on November 2, 2021, after market close. Senior management will host a live conference call at 4:30 PM ET to discuss the results and provide a business update. Rigel specializes in developing small molecule drugs for hematologic disorders, cancer, and rare diseases. Its lead product, TAVALISSE, is the only oral SYK inhibitor for chronic immune thrombocytopenia. The company has multiple ongoing clinical trials for various conditions, including COVID-19 and autoimmune diseases.
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.