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portefeuille (99.44)

RIGL

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March 10, 2011 – Comments (0)

It might be a good time to buy a few RIGL shares. RIGL shares are currently one of the larger positions of my "fund" (see here). There are currently 4850 RIGL shares in the fund with break-even of around $8.24. RIGL is at around $7.21 now.

 

zzlangerhans on RIGL.

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Rigel is a company I always keep my eye on when the share price is low, because of the explosion in their share price that occurred in late 2007 with encouraging phase II data for their RA drug R788, now known as fostamatinib. Since then, the development of R788 has proceeded with a few hiccups such as noted side effects of hypertension and elevated liver enzymes, as well as a partnership deal with AstraZeneca that many perceived as being excessively backloaded. AstraZeneca is now on the cusp of initiating patient dosing in phase III trials of R788 but Rigel's share price has declined from recent highs of 8.7. I expect a rebound at some point in the near future once the trials are underway. If not, I'll re-establish this as a GBMB buy under 7.

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(from here)

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