2022-06-08 09:42:14 RIGL Rigel Pharmaceuticals
06/08/22 06/0809:42 06/08/2209:42 | Cantor downgrades Rigel to Neutral after wAIHA trial miss, slashes target to $1Cantor Fitzgerald analyst Kristen Kluska downgraded Rigel Pharmaceuticals to Neutral from Overweight with a price target of $1, down from $6, after the company announced the Phase 3 FORWARD study of fostamatinib in warm autoimmune hemolytic anemia, or wAIHA, did not achieve the primary endpoint of durable hemoglobin response. The wAIHA topline results are "a head scratcher" as the patients in the fostamatinib arm actually performed better than the Phase 2 data, but the placebo patients also responded well, said Kluska. However, the "bottom line" is that the primary endpoint was missed, so future commercialization is "now uncertain," added the analyst. |
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