WASHINGTON (dpa-AFX) - Shares of Rigel Pharmaceuticals, Inc. (RIGL) are slipping over 11% in extended session on Monday after the company said it has received guidance from the U.S. Food and Drug Administration's review of the company's 're-analysis of data from the FORWARD Phase 3 trial of fostamatinib for the treatment of patients with warm autoimmune hemolytic anemia (wAIHA).'
Rigel said that based on the guidance, it does not expect to file a supplemental New Drug Application (sNDA) for this indication at this time. Rigel will continue to explore its options for the wAIHA program in relation to its complete portfolio of development opportunities.
Rigel also announced today that it will reduce its workforce by 16%, resulting in the elimination of 30 positions primarily in development and administration. As a result, Rigel expects that it will recognize a one-time cash severance-related charge of approximately $1.5 million in the fourth quarter of 2022. This measure is expected to provide reduced operating expenses ranging from $7-$8 million annually, starting in 2023.
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