Rigel Pharmaceuticals, Inc. Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

SOUTH SAN FRANCISCO, Calif., Aug.
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SOUTH SAN FRANCISCO, Calif., Aug. 21, 2020 /PRNewswire/ -- Rigel Pharmaceuticals (Nasdaq: RIGL) today announced that it has granted awards pursuant to the Rigel Pharmaceuticals, Inc. Inducement Plan, approved by the Compensation Committee of Rigel's Board of Directors and granted as an inducement material to an employee's employment with Rigel, in accordance with NASDAQ Listing Rule 5635(c)(4).  Specifically, Rigel granted 250,000 stock options to David A. Santos, Rigel's newly appointed EVP and Chief Commercial Officer, vesting over four years with a one-year cliff.  Additionally, Mr. Santos was granted 250,000 stock options to vest upon achievement of certain future performance conditions.  Each option to purchase has an exercise price equal to the closing price of Rigel's common stock on August 19, 2020, the date of grant.

Rigel is providing this information in accordance with NASDAQ Listing Rule 5635(c)(4).

About Rigel ( www.rigel.com)

Rigel Pharmaceuticals, Inc., is a biotechnology company dedicated to discovering, developing and providing novel small molecule drugs that significantly improve the lives of patients with immune and hematologic disorders, cancer and rare diseases. Rigel's pioneering research focuses on signaling pathways that are critical to disease mechanisms. The company's first FDA approved product is TAVALISSE ® (fostamatinib disodium hexahydrate) tablets, the only oral spleen tyrosine kinase (SYK) inhibitor, for the treatment of adult patients with chronic immune thrombocytopenia who have had an insufficient response to a previous treatment. The product has been approved by the European Commission for the treatment of chronic immune thrombocytopenia in adult patients who are refractory to other treatments and is marketed in Europe under the name TAVLESSE ® (fostamatinib). Fostamatinib is currently being studied in an investigator-sponsored trial conducted by Imperial College London for the treatment of COVID-19 pneumonia 1.

Rigel's clinical programs include a Phase 3 study of fostamatinib in warm autoimmune hemolytic anemia (AIHA); a completed Phase 1 study of R835 1, a proprietary molecule from its interleukin receptor associated kinase (IRAK) inhibitor program; and an ongoing Phase 1 study of R552 1, a proprietary molecule from its receptor-interacting protein kinase (RIP) inhibitor program. In addition, Rigel has product candidates in clinical development with partners AstraZeneca, BerGenBio ASA, and Daiichi Sankyo.

Please see www.TAVALISSE.com for the full Prescribing Information.

1The product for this use or indication is investigational and has not been proven safe or effective by any regulatory authority.

IR Contact: David Burke Phone: 650.624.1232Email:  dburke@rigel.com 

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SOURCE Rigel Pharmaceuticals, Inc.