Why Rigel Investors Had a Dose of Disappointment Today
Aug 26th 2013 9:04PM
Updated Aug 26th 2013 9:06PM
With shares of Rigel Pharmaceuticals down more than 65% in the past 12 months, it's clearly been a difficult year for the drugmaker. Today's 13.5% drop came after it reported that its experimental asthma drug, called R343, failed to meet its primary endpoint in a mid-stage clinical trial. This disappointing news comes just a couple of months after the company reported lackluster results for its rheumatoid arthritis candidate fostamatib, which caused big pharma AstraZeneca to bail on their partnership. In the following video, health-care analysts David Williamson and Max Macaluso discuss these results and Rigel's current situation.
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The article Why Rigel Investors Had a Dose of Disappointment Today originally appeared on Fool.com.David Williamson owns shares of Pfizer. Max Macaluso, Ph.D., and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.