2 Biotechs Battling Immune Diseases
On some levels, Rigel Pharmaceuticals (NASDAQ: RIGL) and Momenta Pharmaceuticals (NASDAQ: MNTA) are complete opposites. Rigel, based in South San Francisco, focuses on small molecule drugs while Momenta, headquartered in Cambridge, Massachusetts, tackles disease using large molecules called biologics.
Rigel, with a drug approved in the U.S. and Europe, sports a market cap of roughly $475 million compared to Momenta's $2.6 billion valuation. Momenta updated investors this week that it should end 2019 with $545.1 million in cash, an amount greater than Rigel's entire market cap. Rigel expects to end 2019 with $98 million in cash.
Image source: Getty Images.
Source Fool.com