Scanning through the 10-K, I came across this snippet implying that RIGL's binary event is coming in a few months:
>>Asthma/Allergy We began a Phase I clinical trial of R112 in September 2002 in Britain. In this initial safety study, conducted with healthy volunteers, no significant adverse events were observed. The data from this trial was incorporated into an investigational new drug, or IND, application that was filed with the United States Food and Drug Administration, or FDA, in November 2002. Approval to proceed was received from the FDA in December 2002 and a clinical trial is now underway at National Jewish Medical Center in Denver, Colorado. The clinical trial will evaluate the effectiveness of R112 in patients with documented allergies. We expect to have the results of this study in the middle of 2003. <<
Emphasis mine.
This is the recruiting ad, which doesn't say diddly about the protocol:
njc.org
At this point, if results are favorable, I would expect Rigel to execute on its strategy of partnering at PII. It'll need the money, as Hep C trials are slated to begin in the fall. Nor has Rigel shown a desire to prune programs. Negative results would force that.
Anyhow, I hold a small position in the hope that favorable results occur, with a deal following. If that doesn't happen, I bail.
Cheers, Tuck |
