Rigel churns out another late-stage clinical failure — this time in Covid-19
In the waning days of the Covid-19 pandemic, one penny stock biotech is reporting a close miss for its sole approved drug. But alas, a close miss is still a miss.
Rigel Pharmaceuticals — a biotech with only tyrosine kinase inhibitor fostamatinib in its arsenal — reported topline results Tuesday from a Phase III Covid-19 trial in patients without respiratory failure and who had certain, “high-risk prognostic” factors. The drug is only currently indicated to treat chronic immune thrombocytopenia, a blood condition when platelets are low.
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