Biotech Values

[mcbio]

Re: RIGL/dilution

RIGL - Agree that company is a good prospect. Though I imagine a 30% dilution is going to cause some downward pressure on the stock. I was surprised that ARRY's RA failure did not give it a boost.

I'm surprised the stock hasn't already seen more downward pressure in light of the announcement of such significant dilution. However, I think the dilution is a necessary evil in front of the critical end-of-Phase 2b meeting.

The ARRY RA failure should only been seen as a positive for RIGL in that they're one of the few biotech/drug companies that can say they've run a successful RA trial for their oral candidate.