Rigl: Although i like rigl and have a few shares that i never bothered to sell, I'm somewhat wary of this. The PR states that the last event was a "series" of P1 trials starting in 1997...that's quite a while ago. Could this suggest that there were delivery issues such that doses suitable to moving on to a p2 were never found?
I assume you meant "2007" as the PR noted the Phase 1 trials were done in 2007, not 1997.
Also, a [very] cursory look back at the Pfe-Rigl agreement shows that pfe had the right to sublicense freely, yet they opted to terminate and return to rigl. If this project were so great, Pfe could have outlicensed it. Granted there were diligence obligations that Pfe may have been butting up against, but still, rigl pays nothing other than some royalties to pfe upon commercialisation.
While I can appreciate questions around R343 and why PFE would essentially give up on it and not at least sub-license it if it were such a promising drug, RIGL is, IMO, for all intents and purposes all about fostamatinib. If you have any confidence that fostamatinib will succeed in Phase 3, then RIGL may be cheap at current valuation given that RIGL is entitled to royalties on the drug that start at 20% (#msg-55725991) and it's probably going to generate a nice amount of revenue if it does reach the market. Aside from fostamatinib, RIGL has a lot in their pipeline above and beyond the asthma drug (see that prior link where RIGL provided a nice description on some of their other projects).
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