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April 19, 2015 4:24 PM ET

Biotechnology

Company Overview of Rigel Pharmaceuticals, Inc.

Company Overview

Rigel Pharmaceuticals, Inc., a clinical-stage drug development company, engages in the discovery and development of small-molecule drugs for the treatment of inflammatory and autoimmune diseases, immuno-oncology related diseases, and muscle disorders. It is developing fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, which is in Phase III clinical trials for immune thrombocytopenic purpura and Phase II clinical trials for IgA nephropathy; R348, a topical JAK/SYK inhibitor that is in Phase II clinical trials for the treatment of dry eye in ocular graft-versus-host disease; and two oncology product candidates in Phase I development. The company has a license agreement with AstraZen...

1180 Veterans Boulevard

South San Francisco, CA 94080

United States

Founded in 1996

127 Employees

Phone:

650-624-1100

Fax:

650-624-1101

Key Executives for Rigel Pharmaceuticals, Inc.

Chief Executive Officer, President, Director and Member of Finance Committee
Age: 53
Total Annual Compensation: $551.7K
Co-Founder, President of Discovery & Research, Executive Vice President and Director
Age: 65
Total Annual Compensation: $559.6K
Chief Financial Officer and Executive Vice President
Age: 44
Total Annual Compensation: $441.3K
Chief Medical Officer and Executive Vice President
Age: 66
Total Annual Compensation: $521.3K
Executive Vice President of Corporate Affairs, General Counsel and Corporate Secretary
Age: 49
Total Annual Compensation: $475.5K
Compensation as of Fiscal Year 2014.

Rigel Pharmaceuticals, Inc. Key Developments

Rigel Pharmaceuticals, Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Rigel Pharmaceuticals, Inc. reported unaudited earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported a net loss of $22.3 million, or $0.25 per basic and diluted share, compared to a net loss of $16.9 million, or $0.19 per basic and diluted share, in the fourth quarter of 2013. Contract revenues from collaborations of $8.3 million against $5.75 million in 2013, were comprised of non-refundable payments earned from AstraZeneca AB (AZ) as a result of its continued development of R256 in asthma. Loss from operations was $22.368 million against $16.944 million a year ago. For the year, the company reported contract revenues from collaborations of $8.3 million and a net loss of $90.9 million, or $1.04 per basic and diluted share, compared to contract revenues from collaborations of $7.2 million and a net loss of $89.0 million, or $1.02 per basic and diluted share, in 2013. Contract revenues from collaborations in 2014 and 2013 included $8.3 million and $5.8 million, respectively, of non-refundable payments earned from AZ, and a non-refundable payment of $1.4 million in 2013 from Daiichi Sankyo related to their investigational new drug application filing for an oncology compound. Loss from operations was $91.249 million against $89.469 million a year ago.

Rigel Pharmaceuticals, Inc. to Report Q4, 2014 Results on Mar 03, 2015

Rigel Pharmaceuticals, Inc. announced that they will report Q4, 2014 results on Mar 03, 2015

Rigel Pharmaceuticals, Inc. and Bristol-Myers Squibb Announce Research and Development Collaboration for TGF Beta Receptor Kinase Inhibitors for Use in Immuno-Oncology Related Indications

Rigel Pharmaceuticals, Inc. and Bristol-Myers Squibb Company announced that they have entered into a collaboration agreement for the discovery, development and commercialization of cancer immunotherapies based on Rigel's extensive portfolio of small molecule TGF beta receptor kinase inhibitors. TGF beta can promote tumor growth, broadly suppress the immune system and increase the ability of tumors to spread in the body. The collaboration will focus on developing a new class of therapeutics aimed at increasing the immune system's activity against various cancers either as monotherapy or in combination with immune checkpoint inhibitors, including Bristol-Myers Squibb's Opdivo (nivolumab) and Yervoy (ipilimumab). Under the terms of the agreement, Bristol-Myers Squibb will obtain exclusive, worldwide rights to develop and commercialize small molecule therapeutics derived from Rigel's TGF beta library, including, but not limited to, those approved to treat cancer. Bristol-Myers Squibb will pay $30 million upfront and Rigel will be eligible to receive development and regulatory milestones that could total more than $309 million for a successful compound approved in multiple indications. Rigel will also be eligible to receive tiered royalties on the net sales of any products from the collaboration. Within the immune system, TGF beta often plays an immunosuppressive role by potently suppressing effector cell proliferation and function while simultaneously promoting differentiation of certain suppressive T-cells. This master regulator is often present within tumor microenvironments and can significantly dampen anti-tumor host immune responses. Current evidence suggests that TGF beta can arise from many sources, including the cancer itself, surrounding cells and infiltrating macrophages. Developing a drug that inhibits TGF beta signaling in cancer patients has the potential to counteract an important mechanism used by cancers to escape immuno-surveillance, thereby making this signaling pathway an appealing therapeutic target for immuno-oncology related applications.

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