Business
Rigel Reports Third Quarter 2021 Financial Results and Provides Business Update
- Completed enrollment of FORWARD Phase 3 trial of fostamatinib in patients with warm autoimmune hemolytic anemia (wAIHA), topline data expected mid-2022 -
About this update from Rigel Pharmaceuticals, Inc.
[{"type":"text","content":"- Completed enrollment of FORWARD Phase 3 trial of fostamatinib in patients with warm autoimmune hemolytic anemia (wAIHA), topline data expected mid-2022\n - Rigel's Phase 3 trial in high-risk hospitalized patients with COVID-19 has enrolled ~210 patients\n - Net product sales of $16.0 million and total revenues of $21.5 million\n - Conference call and webcast today at 4:30 p.m. Eastern Time\n\n\nSOUTH SAN FRANCISCO, Calif., Nov. 2, 2021 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today reported financial results for the third quarter ended September 30, 2021, 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\"We recently achieved an important development milestone, completing enrollment of our pivotal FORWARD study in wAIHA.\"\"Rigel has expanded the commercial organization and our pipeline candidates are advancing in the clinic, setting us up for a transformative year in 2022,\" said Raul Rodriguez, Rigel's president and CEO. \"We recently achieved an important development milestone, completing enrollment of our pivotal FORWARD study in wAIHA, with an anticipated data readout in mid-2022. In addition, our sales force expansion is now complete, allowing us to have a greater impact in driving awareness and uptake for TAVALISSE as a novel, targeted therapy for ITP in the U.S.\"\nBusiness Update\nEnrollment of Rigel's FORWARD study, a Phase 3 pivotal trial of TAVALISSE in patients with wAIHA, is complete. Rigel expects to report topline data from the 24-week study in mid-2022 and proceed with regulatory filings if the data is positive. If approved, TAVALISSE has the potential to be the first-to-market therapy for patients with wAIHA in 2023.Rigel expanded its field sales force by the end of September, growing from 39 to 55 territory business managers to improve efficiency and increase in-person interactions. In the third quarter of 2021, 1,710 bottles of TAVALISSE were shipped to patients and clinics, representing an increase of 5% year over year. Net product sales for the third quarter decreased 2% year over year to $16.0 million. During the third quarter, the company's net product sales were negatively impacted by a decrease in bottles remaining in its dis...