7:40AM On The Wires (WIRES) :
Rigel Pharmaceuticals, Inc. (RIGL) announced that the company will assume development of R343, its inhaled syk inhibitor for allergic asthma that recently completed several Phase 1 clinical trials. Pfizer (PFE) is returning full rights to the R343 program as a result of its decision to exit the allergy and respiratory therapeutic area within R&D. Rigel is evaluating the details of R343's development to date and expects to design a Phase 2 clinical trial with R343 later this year.
