There are rumors of a possible buyout of Rigel Pharmaceuticals (RIGL) stock. RIGL stock closed at $1.27 and is up $0.08 during pre-market trading. Pre-market tends to be more volatile due to significantly lower volume as most investors only trade between standard trading hours. RIGL has a roughly average overall score of 66 meaning the stock holds a better value than 66% of stocks at its current price.
Phase 1b Study
Yesterday, the company has announced first dose of R289 for the Treatment of Lower-Risk Myelodysplastic Syndromes. “R289’s dual inhibition of IRAK1 and IRAK4 has the potential to provide a more robust suppression of the pro-inflammatory environment that causes lower-risk MDS by blocking inflammatory cytokine production,” said Wolfgang Dummer, M.D., Ph.D., Rigel’s chief medical officer. “The initiation of our Phase 1b study demonstrates our continued ability and commitment to bringing innovative, investigational candidates for hematology-oncology indications into the clinic. We believe R289 may represent a promising new approach to treating patients with lower-risk MDS and look forward to investigating R289 further in this Phase 1b study.”
Rumors of RIGL buyout
The company is likely not prepared for a buyout, however it may be a target for the big players in the industry and with the recent approvals of its pipeline products, it’s just a matter of time and whether the company draws the attention of a big player in the market.