Rigel 3Q Loss Narrows On Lower Costs
SOUTH SAN FRANCISCO, Calif. (AP) Rigel Pharmaceuticals Inc. said Tuesday its third-quarter loss narrowed as the development-stage biotechnology company completed two midstage studies in its rheumatoid-arthritis program.
The company lost $26.7 million, or 70 cents per share, compared with a loss of $37.7 million, or $1.03 per share, a year ago. There was no reported revenue during either quarter and the company still does not have a product on the market. Analysts polled by Thomson Reuters, on average, expected a loss of 58 cents per share on revenue $3.8 million. Rigel said stock-based compensation fell by about half, while operating expenses fell 31 percent to $26.7 million. The company ended the quarter with cash, cash equivalents and available for sale securities of $156.1 million. Rigel is developing treatments for rheumatoid arthritis, asthma, allergies and cancer. Partners on various programs include Serono SA, Pfizer Inc. and Merck & Co.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
Data delayed 20 minutes |














