Biotech Values

[mcbio]

RIGL - Thoughts on TASKi2 Results

Well, the results were what I thought they would be and the stock behaved pretty much as I expected. R788 is clearly efficacious in treating RA as this trial showed. Investors still apparently have concerns about the safety, although I thought this trial continued to show that the side effects (hypertension, diarrhea, neutropenia) in a small number of patients appear to be manageable either via an increase in blood pressure medication or dose reduction of R788. It's important to note that these side effects aren't much greater than those observed in the placebo patients who had failed methotrexate treatment.

I am going to wait until the TASKi3 results are revealed in a few weeks before I add to my RIGL position as I don't think even positive results from this trial will get the stock moving. I believe it's going to take RIGL getting a lucrative partnering deal for R788 for this to occur and, if this is to occur, it would be sometime after the TASKi3 results are released assuming those results are positive. Note that TASKi3 is testing R788 in patients who have failed an existing biologic.

I welcome thoughts from you all on the safety of R788 and RIGL in general.