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Fly News Breaks for April 9, 2018
RIGL
Apr 9, 2018 | 06:55 EDT
JPMorgan analyst Anupam Rama continues to see a favorable risk/reward profile on Rigel Pharmaceuticals heading into the April 17 FDA action date for Tavalisse in immune thrombocytopenia. The analyst sees a "high probability" of approval for Tavalisse and 50%-80% share upside on the news, "assuming no major surprises in the label." The approval is setting up to be a "true binary event," with potential share downside in the 65%-80% range, Rama tells investors in a research note. He keeps an Overweight rating on Rigel shares.
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