Rigel Pharmaceuticals Inc Stock Price, News & Analysis

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 22^nd 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.