Moody’s downgrades Senegal to Caa1 amid rising debt concerns
Investing.com - Rigel Pharmaceuticals (NASDAQ:RIGL), which has demonstrated strong financial health with an EXCELLENT rating according to InvestingPro metrics, announced Wednesday that the first patient has been enrolled in the dose expansion phase of its Phase 1b R289 study, advancing its clinical program for myelodysplastic syndrome (MDS) treatment.
The open-label trial is evaluating the safety, tolerability, pharmacokinetics, and preliminary activity of R289, an IRAK1/4 inhibitor, in patients with relapsed or refractory lower-risk MDS. Up to 40 patients will be randomized to receive 500 mg of R289 either once or twice daily to determine the recommended Phase 2 dose.
Following the determination of the recommended Phase 2 dose, Rigel plans to evaluate an exploratory cohort of erythropoiesis-stimulating agent relapsed/refractory, or ineligible, lower-risk MDS patients at that dose level.
Data from the dose escalation portion of the study is expected later this year, according to the company’s announcement on October 8. Rigel also plans to engage with the FDA this year to discuss a potential registrational pathway for R289.
H.C. Wainwright reiterated a Buy rating on Rigel Pharmaceuticals with a $57.00 price target, noting that the upcoming FDA meeting "should provide valuable clarity on the next steps for the program and the design of subsequent trials leading toward an eventual NDA submission." The stock, which has gained over 90% in the past year, currently appears fairly valued according to InvestingPro Fair Value calculations. For deeper insights into Rigel’s financial health, growth prospects, and 12+ additional ProTips, consider accessing the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Rigel Pharmaceuticals has reported strong financial results for the second quarter of 2025, showing a notable 76% year-over-year growth in net product sales. The company transitioned from a net loss to a net income of $59.6 million, leading management to increase its 2025 total net product revenue guidance to $210-220 million, up from the previous forecast of $185-192 million. Jefferies has responded to these results by raising its price target for Rigel Pharmaceuticals from $20.45 to $23.00, while maintaining a Hold rating. The decision was influenced by better-than-expected product sales during the quarter. These developments reflect significant demand across both new and existing patients for Rigel’s products. Investors have shown optimism in response to these announcements.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.