Biotech Values

[mcbio]

Re: RIGL strength

surprised by rigl strength of late especially after the secondary. mcbio any comment

Sorry, I've been out of town and just returned. But, there's really not much new to add. As I've said before, I think it was smart to raise money now in front of the end-of-Phase 2b meeting planned at the end of next month with the FDA for R788, lest the FDA impose any serious restrictions on the R788 Phase 3 trial making it unfeasible. There's a lot more to the RIGL story than R788 in RA, but it's clearly the key value driver at this time so I think the fund raise is a good move. (And since I'm on the sidelines at this time, the dilution doesn't affect me one bit; I'm happy to see the company add a material amount of cash to the balance sheet.)