Published on 3 Jan 2024 on Zacks via Yahoo Finance

Here's Why You Should Bet on Rigel Pharmaceuticals (RIGL) Now

Rigel Pharmaceuticals RIGL makes medicines for treating hematologic disorders and cancer. Its two commercial products are Tavalisse tablets for the treatment of adults patients with chronic immune thrombocytopenia (“ITP”) who have had an insufficient response to a previous treatment and Rezlidhia (olutasidenib) capsules for treating relapsed or refractory acute myeloid leukemia (“AML”) in patients with an IDH1 mutation.

Sales of Tavalisse tablets rose 26% in the first nine months of 2023, driven by demand growth. The company has been witnessing a consistent rise in new patient starts. Many patients with ITP do not respond well to current therapies like steroids, blood platelet production boosters and splenectomy, thus creating a significant medical need for additional product options for patients with ITP. Rigel Pharmaceuticals expects new patient starts for Tavalisse to continue to increase in 2024

Though sales of Rezlidhia, which was launched in December 2022, have been slow to pick up. Rigel Pharmaceuticals is working to improve awareness of the product. Moreover, Rigel Pharmaceuticals believes olutasidenib has potential in various settings in AML and other cancers as well where mutant IDH1 plays a role.