Business
Rigel Reports Third Quarter 2020 Financial Results and Provides Business Update
Third quarter total revenues of $18.4 million Net product sales of $16.3 million, a 39% year-over-year increase Launching Phase 3 clinical trial of
About this update from Rigel Pharmaceuticals, Inc.
[{"type":"text","content":"Third quarter total revenues of $18.4 million\n Net product sales of $16.3 million, a 39% year-over-year increase\n Launching Phase 3 clinical trial of fostamatinib in COVID-19 patients\n Conference call and webcast today at 4:30PM Eastern Time\n\n\nSOUTH SAN FRANCISCO, Calif., Nov. 5, 2020 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today reported financial results for the third quarter ended September 30, 2020, including sales of TAVALISSE® (fostamatinib disodium hexahydrate) tablets, for the treatment of adults with chronic immune thrombocytopenia (ITP) who have had an insufficient response to a previous treatment.\n\"Our team has done an excellent job advancing our key value drivers while adapting to the widespread changes in the current global environment,\" said Raul Rodriguez, Rigel's president and CEO. \"We have continued to grow our TAVALISSE franchise with third quarter sales increasing 39% year-over-year and our global Phase 3 clinical trial for warm AIHA having enrolled over 60% of our patient goal. Additionally, exploration of fostamatinib's potential in COVID-19 is rapidly expanding with our Phase 3 clinical trial launching this quarter and enrollment ongoing in the Phase 2 trials sponsored by the NIH/NHLBI and Imperial College London.\"\nBusiness UpdateRigel's FORWARD study, a Phase 3 pivotal trial of TAVALISSE in warm autoimmune hemolytic anemia (AIHA), has enrolled 57 of the 90 patients targeted for enrollment. The trial currently has over 90 clinical trial sites established across 22 countries. \nRigel plans to launch a Phase 3 clinical trial to evaluate the safety and efficacy of fostamatinib in hospitalized COVID-19 patients without respiratory failure that have certain high-risk prognostic factors. This multi-center, double-blind, placebo-controlled, adaptive design study is expected to enroll over 300 evaluable patients that will be randomly assigned to either fostamatinib plus standard of care (SOC) or matched placebo plus SOC (1:1). Treatment will be administered orally twice daily for 14 days. There will be a follow-up period to day 60. The primary endpoint of this study is the proportion of subjects who progress to severe/critical disease within 29 days. \nThe Phase 2 clinical trial sponsored by the NIH/NHLBI, in collaboration with Inova Health System, to evaluate the safety of fostamatin...