Rigel Pharma surges after FDA approves leukemia treatment

Rigel Pharmaceuticals

02/12/2022 11:04

** Rigel Pharmaceuticals Inc's shares  RIGL.O  jump 43.3%
premarket - top gainer among U.S. stocks trading before the bell
    ** Co late on Thursday said U.S. FDA approved its drug to
treat acute myeloid leukemia in patients with a susceptible
genetic mutation
    ** Drug will be sold under the brand Rezlidhia
    ** Brokerage Jefferies raises PT slightly to 90 cents from
80 cents; estimates peak U.S. sales of ~$90 mln in 2032
    ** Stock had tumbled ~74% YTD through Thurs close vs a ~8%
decline in the Nasdaq Biotechnology index  .NBI 
 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))