What's Going On With Rigel Pharmaceuticals?
Rigel Pharmaceuticals (RIGL) today announced that fostamatinib, a novel oral spleen tyrosine kinase (SYK) inhibitor, has been selected for a National Institutes of Health (NIH) trial in hospitalized patients with COVID-19. Shares of the company were trading lower -0.22% to $4.46 a share on Tuesday.
What Does This Mean For Rigel Pharmaceuticals?
The trial, funded by the National Heart, Lung, and Blood Institute, is evaluating whether treatments such as fostamatinib, aimed to protect and heal host tissues in hospitalized patients with COVID-19, are effective.
With COVID-19 and its variants seemingly remaining a public health threat, the NIH is poised to advance clinical solutions for COVID-19 related lung injuries. The ACTIV study follows a recently completed NHLBI/NIH-sponsored Phase 2 study that evaluated fostamatinib in hospitalized adults with COVID-19. The study met its primary endpoint of safety and showed improvement in numerous efficacy endpoints including mortality, ordinal scale assessment, and number of days in the ICU.
ACTIV is a public-private partnership that unites partners from government, industry, academic and non-profit organizations to prioritize and speed development of the most promising COVID-19 treatments.
Rigel Pharmaceuticals, Inc., a biotechnology company, discovers and develops small molecule drugs to treat hematologic disorders, cancer, and rare immune diseases.
RIGL has a Fundamental Rank of 86. Find out what this means to you and get the rest of the rankings on RIGL!
Rigel Pharmaceuticals Inc develops small-molecule drugs for autoimmune, cancer-related, and viral diseases. The firm's lead drug is an oral rheumatoid arthritis drug candidate that has been licensed to AstraZeneca. Astra has taken overall responsibility to develop and market the drug and will pay Rigel royalties and milestone payments. Its pipeline product includes TAVALISSE (fostamatinib disodium hexahydrate) tablets, the only oral spleen tyrosine kinase (SYK) inhibitor, Fostamatinib, R552, R835, DS-3032, THF-beta Inhibitors, and AZD0449- Inhaled JAK Inhibitor.
