With shares of Rigel Pharmaceuticals (NASDAQ:RIGL) down more than 65% in the past 12 months, it's clearly been a difficult year for the drugmaker. Today's 13.5% drop came after it reported that its experimental asthma drug, called R343, failed to meet its primary endpoint in a mid-stage clinical trial. This disappointing news comes just a couple of months after the company reported lackluster results for its rheumatoid arthritis candidate fostamatib, which caused big pharma AstraZeneca to bail on their partnership. In the following video, health-care analysts David Williamson and Max Macaluso discuss these results and Rigel's current situation.
- Aug 26, 2013 at 8:52PM
- Health Care