12:00 AM
 | 
Nov 03, 2008
 |  BioCentury  |  Finance

Rigel's round trip

Rigel's round trip

Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) dropped 40% last week after presenting detailed data on its Phase II trial of rheumatoid arthritis compound R788. The data raised safety concerns, including hypertension, and there was an imbalance in response rates seen in different countries. The last time the stock was trading below $10 was 12 months ago, just prior to the company's announcement that R788 met the primary endpoint of percentage of ACR20 responders compared to placebo in the same study. At the American College of Rheumatology meeting last week, Rigel noted an average increase in blood pressure from baseline in patients on R788 and reported 3 of 49 (6%) and 2 of 47 (4%) cases of mild-to-severe hypertension for...

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