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Special: This Company’s Share Price has Increased 1650% Since 2016

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A Global Product Launch Could Deliver a 52% Gain

A Global Product Launch Could Deliver a 52% Gain

Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) a biotechnology company, engages in the discovery and development of small molecule drugs for the treatment of immune and hematologic disorders, cancer, and rare diseases.

  • Special: This Company’s Share Price has Increased 1650% Since 2016
  • The company recently released a business update, as summarized by PR Newswire, that has analysts talking:

    “In January 2019, Rigel announced that it had entered into an exclusive license and supply agreement with Grifols to commercialize fostamatinib disodium hexahydrate in all potential indications in Europe and Turkey.

    With this agreement, Rigel is positioned to access the three largest markets for ITP (U.S., EU, and Japan), an indication with a global market that is estimated to be over $1.8 billion annually.

    This collaboration partners fostamatinib with one of the largest intravenous immunoglobulin (IVIG) manufacturers globally that has established relationships with European hematologists and hematologist/oncologists, as well as a distribution infrastructure across the EU.

    Fostamatinib is on track for potential EMA approval by the end of 2019, which could enable a product launch in initial European markets as early as 2020.”

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  • This product launch could expand the company’s global reach in less than a year.

    “Under terms of the commercial license agreement, Rigel received a $30.0 million upfront cash payment, with the potential for $297.5 million in payments related to regulatory and commercial milestones, which includes a $20.0 million payment upon EMA approval of fostamatinib for the treatment of chronic ITP.

    Rigel will also receive stepped double-digit royalty payments based on tiered net sales which may reach 30% of net sales of fostamatinib.

    In return, Grifols receives exclusive rights to fostamatinib in human diseases in Europe and Turkey, including chronic ITP, autoimmune hemolytic anemia (AIHA), and IgA nephropathy (IgAN).

    In the event that, in 2021, after the second anniversary of the agreement, fostamatinib has not been approved by the EMA for the treatment of ITP in Europe, Grifols will have the option during a six-month time-frame to terminate the entire agreement which would terminate all their rights to ITP, AIHA, and all other indications.

    In this limited circumstance, Rigel will pay Grifols $25.0 million and regain all rights to fostamatinib in the Grifols territories. Rigel retains the global rights to fostamatinib outside the Grifols and Kissei territories.

    In addition to growing its commercial business, Rigel has been working to broaden its pipeline by expanding the potential use of fostamatinib in other indications and developing new molecules.

    Rigel is on track to initiate a pivotal Phase 3 trial of fostamatinib in warm AIHA in the first half of 2019. Additionally, the Phase 1 trial of R8351, Rigel’s investigational IRAK 1/4 inhibitor, is expected to report initial data in the second half of 2019.”

    This is a biotech stock that is worth researching, as the recent chart highlights.

    RIGL daily chart

    RIGL should be considered a buy if recent momentum continues.

    Look for an entry at $2.47 with a price target of at least $3.76 based on the pattern in the chart.

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