Rigel rises on licensing deal for Pfizer-Arvinas breast cancer drug

Pfizer

12/05/2026 14:42

Updates

** Shares of drugmaker Rigel Pharmaceuticals RIGL.O rise 15.27% to $30.20

** Co signs a global licensing deal for Arvinas ARVN.O  and Pfizer's PFE.N recently approved breast cancer drug, Veppanu

** Veppanu is approved for patients with advanced breast cancer whose tumors carry a specific genetic mutation

** RIGL will pay $70 million upfront and another $15 million after certain transition activities are completed; ARVN and PFE are also eligible for up to $320 million in milestone payments as well as tiered royalties

** "We think this is a partnership that makes sense given Rigel's deep expertise in oncology," says Truist

** Including session's move, RIGL down 30.3% YTD

 (Reporting by Kunal Das in Bengaluru)

 ((Kunal.Das2@thomsonreuters.com;))