Early Tuesday morning, Rigel Pharmaceuticals (NASDAQ: RIGL) and its now-ex-partner, AstraZeneca (NYSE: AZN), reported late-stage clinical trial results for the experimental rheumatoid arthritis drug Fostamatinib. In the following video, health-care analyst Max Macaluso discusses why Rigel dropped 18% after the news was released and the risks that lie ahead for Rigel Pharmaceuticals.
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AstraZeneca leaves its partnership with Rigel following lackluster results from Fostamatinib's late-stage trials.
About the Author
Max is the Technology, Biopharma & Health Care Bureau Chief at Fool.com. Prior to joining the Fool, he completed a PhD in chemistry at the University of Cambridge and an MBA at the College des Ingenieurs.
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