RIGL

Rigel Pharmaceuticals Inc

Healthcare


Presented:06/06/2018
Price:$3.52
Cap:$0.52B
Current Price:$15.30
Cap:$0.27B

Presented

Date06/06/2018
Price$3.52
Market Cap$0.52B
Ent Value$0.43B
P/E RatioN/A
Book Value$0.49
Div Yield0%
Shares O/S147.11M
Ave Daily Vol3,242,564
Short Int7.67%

Current

Price$15.30
Market Cap$0.27B
Rigel Pharmaceuticals, Inc. operates as a clinical stage biotechnology company. It discovers and develops novel, targeted drugs in the therapeutic areas of immunology, oncology and immune oncology. It focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Its current product development programs include Fostamatinib Oral SYK Inhibitor and R348 Topical Ophthalmic JAK/SYK Inhibitor. The company was founded by Donald G. Payan, Garry P. Nolan and Ronald B. Garren on June 14, 1996 and is headquartered in South San Francisco, CA.

Publicly traded companies mentioned herein: Aclaris Therapeutics Inc (ACRS), Amgen Inc (AMGN), AstraZeneca PLC (AZN), Bergenbio ASA (BGBIO NO), Bristol-Myers Squibb Co (BMY), Daiichi Sankyo Company Ltd (4568 JP), Novartis AG (NVS), Rigel Pharmaceuticals Inc (RIGL)

Highlights

The presenter is long shares of Rigel Pharmaceuticals (RIGL), and sees meaningful upside potential for shareholders following the approval of Tavalisse (fostamatinib disodium hexahydrate) for the treatment of adults with chronic immune thrombocytopenia (ITP). Additionally, the company recently raised $58MM via a 16MM share offering, and now has ~$90MM on its balance sheet to work with. Despite Tavalisse being third to market, behind Amgen’s Nplate (romiplostim) and Novartis’ Promacta (eltrombopag), it could ultimately generate $300MM - $500MM in peak sales. With a market cap of just ~$600MM today, there could be upside to the $6 - $8 range for the stock over the next 12 - 24 months based on Tavalisse’s current label.

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Idea Discussion

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