Rigel Pharmaceuticals Inc Stock Price, News & Analysis

Rigel Pharmaceuticals (Nasdaq: RIGL) has announced the granting of inducement awards under its Inducement Plan, as approved by the company's Compensation Committee. The grants, made in accordance with NASDAQ Listing Rule 5635(c)(4), consist of 46,131 stock options awarded to eight non-executive employees. These options will vest over a four-year period with a one-year cliff.

The awards were granted as material inducements for these employees entering into employment with Rigel. The company, founded in 1996 and based in South San Francisco, California, focuses on developing and providing novel therapies for patients with hematologic disorders and cancer.

Rigel Pharmaceuticals (NASDAQ: RIGL) announced initial data from its ongoing Phase 1b study of R289 in lower-risk myelodysplastic syndrome (LR-MDS) patients. The study showed promising results with 40% of evaluable transfusion-dependent patients receiving R289 doses ≥500 mg QD achieving red blood cell transfusion independence or hematologic improvement.

The trial enrolled 22 patients with a median age of 76 years. R289 was generally well-tolerated, with most common side effects being Grade 1/2 diarrhea and fatigue. Three patients achieved RBC transfusion independence ≥8 weeks, with two maintaining it for >24 weeks. The median duration of RBC transfusion independence was 29 weeks.

The FDA recently granted Fast Track designation for R289 in previously-treated transfusion-dependent LR-MDS patients.

Rigel Pharmaceuticals (Nasdaq: RIGL) announced that the FDA has granted Fast Track designation to R289 for treating patients with previously-treated transfusion dependent lower-risk myelodysplastic syndrome (LR-MDS). R289, a dual inhibitor of IRAK1 and IRAK4, is currently being evaluated in a Phase 1b study. The Fast Track designation may provide benefits including more frequent FDA interactions and eligibility for Accelerated Approval and Priority Review. The drug works by blocking inflammatory cytokine production in response to toll-like receptor and interleukin-1 receptor family signaling, targeting the pro-inflammatory environment in bone marrow responsible for persistent cytopenias in lower-risk MDS patients.

Rigel Pharmaceuticals (Nasdaq: RIGL) has announced that CFO Dean Schorno will present a company overview at the Jefferies London Healthcare Conference on Tuesday, November 19, at 9:30 am GMT (4:30 am EST). The presentation will be accessible via live webcast through the Investor Relations section of Rigel's website.

Founded in 1996 and based in South San Francisco, Rigel is a commercial stage biotechnology company focusing on developing therapies for hematologic disorders and cancer. The company aims to discover, develop, and provide novel treatments that improve patients' lives.

Rigel Pharmaceuticals reported strong Q3 2024 financial results with total revenue of $55.3 million, including TAVALISSE net sales of $26.3 million (8% growth), REZLIDHIA net sales of $5.5 million (107% growth), and GAVRETO net sales of $7.1 million. The company secured a $10 million upfront payment from Kissei for REZLIDHIA development rights in Japan, Korea, and Taiwan. Rigel achieved Q3 net income of $12.4 million ($0.71 per share) compared to a net loss of $5.7 million in Q3 2023. Cash position strengthened to $61.1 million as of September 30, 2024.

Rigel Pharmaceuticals (RIGL) announced six poster presentations at the upcoming ASH Annual Meeting, featuring data from their hematology-oncology portfolio. Key highlights include initial results from a Phase 1b study of R289 in lower-risk MDS patients, showing 36% achieved RBC-transfusion independence at doses ≥500 mg QD. The presentations also include data on REZLIDHIA (olutasidenib) in mIDH1 AML patients, demonstrating durable responses when combined with azacitidine, and TAVALISSE (fostamatinib) real-world outcomes in ITP treatment.

Rigel Pharmaceuticals (Nasdaq: RIGL) has scheduled its third quarter 2024 financial results announcement for Thursday, November 7, 2024, after market close. The company will host a live conference call and webcast at 4:30 p.m. Eastern Time to discuss financial results and provide a business update. Participants can join via phone (877-407-3088 domestic, 201-389-0927 international) or through the webcast available on Rigel's website. The webcast recording will be accessible for 90 days after the call.

Rigel Pharmaceuticals (RIGL) announced the issuance of a Dear Health Care Provider (DHCP) letter regarding a new safety signal for GAVRETO® (pralsetinib), following FDA consultation. GAVRETO is approved for treating adult patients with metastatic RET fusion-positive non-small cell lung cancer and certain thyroid cancer patients. The letter has been posted to the GAVRETO Healthcare Provider website. The company emphasizes patient safety as its highest priority and encourages healthcare providers and patients to report adverse events to Rigel's Medical Communications Center or directly to the FDA.

Rigel Pharmaceuticals (Nasdaq: RIGL) has announced the granting of inducement awards under its Inducement Plan, as approved by the Compensation Committee of Rigel's Board of Directors. These awards were granted as an inducement for employees entering into employment with Rigel, in compliance with NASDAQ Listing Rule 5635(c)(4).

The company has granted 35,944 stock options to fifteen non-executive employees. These options will vest over a four-year period with a one-year cliff. Rigel, founded in 1996 and based in South San Francisco, California, is a biotechnology company focused on discovering, developing, and providing novel therapies for patients with hematologic disorders and cancer.