BMS, Rigel in cancer immunotherapy deal

Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) picked up $0.68 (27%) to $3.23 on Monday after it granted Bristol-Myers Squibb Co. (NYSE:BMY) exclusive, worldwide rights to develop cancer immunotherapies based on Rigel's small molecule transforming growth factor (TGF) beta receptor kinases.

Rigel will receive $30 million up front and is eligible for $309 million in development and regulatory milestones, plus tiered royalties. ...