RIGL Highlights Clinical and Preclinical Pipeline
According to RBC Capital Markets, Rigel (NASDAQ: RIGL) has “reiterated expectations to start R788 rheumatoid arthritis Phase III trials in H2:10 with AstraZeneca." Rigel has also outlined the strategy "for the next phase of growth for its partnered and proprietary pipeline while AstraZeneca executes on the R788 program,” the analysts mention. The management also highlighted AstraZeneca as good partner due to “its readiness to embark on a large Phase III program quickly and history of success in building large brands (e.g., Crestor, Seroquel),” the analysts add. According to the analysts, “The company also pointed to AstraZeneca having ideas regarding differentiation, which were not disclosed.”
The analysts have updated their estimates to reflect the company's recognition of the $100M upfront milestone over the next six months.
