Rigel Pharmaceuticals Updates R289 Clinical Data, Anticipates Phase 2 Dose Selection in 2026
Written by Emily J. Thompson, Senior Investment Analyst
Source: PRnewswire
Updated: 10 hour ago0mins
- Clinical Trial Progress: Rigel Pharmaceuticals presented updated clinical data for R289 at the 67th American Society of Hematology Annual Meeting, highlighting its potential as a treatment for relapsed or refractory lower-risk myelodysplastic syndrome (MDS), with a recommended Phase 2 dose selection anticipated in the second half of 2026.
- Patient Enrollment Completion: As of July 2025, the dose escalation phase of R289 has completed enrollment, and the dose expansion phase began in October, planning to randomize up to 40 patients to receive either 500 mg once or twice daily to assess safety and preliminary efficacy.
- FDA Fast Track Designation: R289 has received Orphan Drug and Fast Track designations from the FDA, underscoring its significance in treating transfusion-dependent lower-risk MDS patients and potentially introducing a new therapeutic option in this area.
- Future Outlook: Rigel Pharmaceuticals is committed to developing new therapies to meet the unmet medical needs of lower-risk MDS patients, and the success of R289 could significantly improve patient quality of life while advancing the company's position in the biotechnology sector.
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Analyst Views on RIGL
Wall Street analysts forecast RIGL stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for RIGL is 45.67 USD with a low forecast of 38.00 USD and a high forecast of 57.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 47.380
Low
38.00
Averages
45.67
High
57.00
Current: 47.380
Low
38.00
Averages
45.67
High
57.00
Cantor Fitzgerald
Neutral
maintain
$32 -> $38
2025-11-05
Reason
Cantor Fitzgerald
Price Target
$32 -> $38
2025-11-05
maintain
Neutral
Reason
Cantor Fitzgerald raised the firm's price target on Rigel Pharmaceuticals to $38 from $32 and keeps a Neutral rating on the shares. The strong quarter on TAVALISSE $44.7M proved that the strong uptick we saw in Q3 wasn't a one-time fluke, the analyst tells investors in a research note. The firm thinks the pipeline opportunity deserves "equal attention" in light of the trends from TAVALISSE in 2025.
Jefferies
Hold
to
Buy
upgrade
$42
2025-11-05
Reason
Jefferies
Price Target
$42
2025-11-05
upgrade
Hold
to
Buy
Reason
Jefferies upgraded Rigel Pharmaceuticals to Buy from Hold with a $42 price target.
Jefferies
Hold -> Buy
upgrade
$23 -> $42
2025-11-05
Reason
Jefferies
Price Target
$23 -> $42
2025-11-05
upgrade
Hold -> Buy
Reason
As previously reported, Jefferies upgraded Rigel Pharmaceuticals to Buy from Hold with a price target of $42, up from $23, after Q3 product sales beat Street expectations and the company raised total 2025 net product sales guidance to $225M-$230M from $210M-$220M. The firm cites strong commercial execution, positive cash flow and room for potential business development for its upgrade.
Citigroup
Yigal Nochomovitz
Strong Buy
Maintains
$49 → $55
2025-03-06
Reason
Citigroup
Yigal Nochomovitz
Price Target
$49 → $55
2025-03-06
Maintains
Strong Buy
Reason
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About RIGL
Rigel Pharmaceuticals, Inc. is a biotechnology company. The Company is engaged in developing and providing novel therapies that significantly improve the lives of patients with hematologic disorders and cancer. It is focused on products that address signaling pathways that are critical to disease mechanisms. Its first product is TAVALISSE (fostamatinib disodium hexahydrate) tablets, the approved oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia (ITP) who have had an insufficient response to a previous treatment. Its second product is REZLIDHIA (olutasidenib) capsules for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test. Its GAVRETO (pralsetinib) product is a once daily, small molecule, oral, kinase inhibitor of wild type rearranged during transfection (RET) and oncogenic RET fusions.
About the author
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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