Meet Rigel Pharmaceuticals: A talk with CEO Raul Rodriguez

Rigel Pharmaceuticals (RIGL) is a biotechnology company dedicated to discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematologic disorders, cancer and rare diseases. In an exclusive interview with The Fly, CEO and President Raul Rodriguez talked about the company's flagship product Tavalisse, drug pricing, Rigel's additional pipeline, and much more. Here are some of the highlights: TAVALISSE LAUNCH AHEAD OF EXPECTATIONS: During the company's last earnings results, Rigel said that Tavalisse's launch is proceeding ahead of expectations. CEO Raul Rodriguez believes the "very positive physician response" is contributing to early adoption of Tavalisse since its launch on May 29th. "We are also seeing initial benefits of Tavalisse's broad indication, with some demand for the product across all lines of therapy," the chief executive pointed out, adding that "prescriptions are being covered by both commercial and government payers, and reimbursement is occurring as expected." DRUG PRICING: President Donald Trump has been very vocal on drug pricing and the healthcare industry. Rigel's CEO believes it is "unclear the impact that any future policy will have." Rodriguez also noted that prior to launch, the company conducted "extensive market research" with payers and physicians that treat immune thrombocytopenia, or ITP, to determine an appropriate price for Tavalisse. "At this price and with our access and support programs, we anticipated strong payer and physician response, and patient access, and that has been the case during this initial launch period," the executive added. WHAT'S NEXT FOR TAVALISSE: The launch of Tavalisse in May heralded Rigel's transition to a commercialized company. Looking at the remainder of 2018 and beyond, Rodriguez said the goal is to "leverage the unique mechanism of action and proven safety of fostamatinib to broaden its use in ITP within its approved label and into new indications that are in clinical development." For ITP, Rigel is on track for a marketing authorization application submission in the EU in the second half of 2018 and is in ongoing discussions with the FDA on the design of a registration trial of fostamatinib in patients with autoimmune hemolytic anemia, the chief executive highlighted. FUNDING: Earlier this year, Rigel completed an underwritten public offering that resulted in net proceeds of over $67M. CEO Raul Rodriguez pointed out that cash and short-term investment balance totaled "approximately $135M at the close of Q2 2018," providing the company with "sufficient cash to fund operation into Q4 2019." ADDITIONAL PIPELINE: While Rodriguez understands why "current attention is rightly focused" on the company's flagship product Tavalisse for the treatment of thrombocytopenia in adult patients with chronic ITP, he noted that "the breadth and depth of our pipeline" is less known. "Our current clinical programs include a Phase 2 trial with fostamatinib in autoimmune hemolytic anemia and a clinical trial with our IRAK 1/4 inhibitor, R835. In addition, we have product candidates in development with partners BerGenBio AS, Daiichi Sankyo and Aclaris Therapeutics," the CEO said. The company's pipeline is expected to be discussed in detail at the upcoming investor and analyst day on October 4th. "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. A more detailed version of this interview to follow.