Here's Why Rigel Pharmaceuticals, Inc. Is Jumping Higher Today
Shares of Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL), a clinical-stage biotech, are on the rise today after the company announced results of a recent meeting with the Food and Drug Administration. It looks like the agency isn't too concerned with mixed data from pivotal trials supporting the company's first new drug application for Tavalisse, formerly fostamatinib. In response, the stock has risen 33.9% as of 10:58 a.m. EDT during Monday's session
Between 60,000 and 125,000 Americans suffer from an incurable blood-based disease called immune thrombocytopenic purpura (ITP). Tavalisse could generate perhaps $350 million in peak annual sales if approved to treat this underserved group, but mixed results during pivotal trials underpinning the candidate's new drug application have kept the stock depressed. The stock is surging today because the FDA won't require an independent advisory committee meeting to discuss the application, which strongly suggests the mixed results aren't going to be an issue after all.
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Source: Fool.com
Rigel Pharmaceutical Inc. Stock
With 14 Buy predictions and not the single Sell prediction the community is currently very high on Rigel Pharmaceutical Inc..
With a target price of 13 € there is potential for a 1656.76% increase which would mean more than doubling the current price of 0.74 € for Rigel Pharmaceutical Inc..
