After a sell-off in the biotech sector, we found a great deal of severely undervalued names trading at extremely low prices. It’s part of the reason why we recommended Rigel Pharmaceuticals (RIGL) at just $1.95 a share in the April 2016 issue of The Cheap Investor. 

Shares of RIGL are now up 108% after the company announced favorable data on its oral spleen tyrosine kinase inhibitor, fostamatinib, for the treatment of adult chronic/persistent immune thrombocytopenia (ITP), which met the primary endpoint in the first two phase III studies of its clinical program. Results demonstrated that 18% of patients who received the treatment achieved a stable platelet response, as compared to those receiving the placebo. 

Rigel Pharmaceuticals (RIGL)

The treatment is also being evaluated in the second Phase III study with results expected between October and November… with a potential New Drug Application (NDA) filing by the first quarter of 2017. 

Leave a Reply

Your email address will not be published. Required fields are marked *

Post comment