ARTICLE | Financial News

Rigel raises $60.6M in follow-on

October 5, 2017 7:02 PM UTC

Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) raised $60.6 million through the sale of 18.1 million shares at $3.35 in a follow-on underwritten by Jefferies, BMO Capital Markets and H.C. Wainwright. The price is a 4% premium to Rigel's close of $3.23 on Tuesday when it proposed the offering after market hours. Rigel gained $0.39 (12%) to $3.62 on Wednesday, and then priced the offering after market hours. Its shares were up $0.28 to $3.90 on Thursday.

Rigel gained 33% on Monday after it said FDA does not plan to hold an advisory committee meeting to discuss the company's NDA for Tavalisse fostamatinib to treat chronic or persistent idiopathic thrombocytopenic purpura (ITP). The candidate's PDUFA date is April 17, 2018 (see BioCentury Extra, Oct. 2)...

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