Replies to post #120595 on Biotech Values

[DewDiligence]

News of Rigel's offering seems to be taken well.

Agreed. It’s generally a good sign when a stock rises following a financing at a discount to the market price. Regards, Dew

[mcbio]

News of Rigel's offering seems to be taken well. 10X average daily volume with a daily range of 8.10-8.50. Could this be due to support from underwriters?

As Dew said, very good sign that the stock did so well after a significant amount of dilution. I'm very happy to see RIGL raise so much cash.

Wonder if they are raising funds to continue development of the asthma therapy drug returned by Pfizer?

I think this is probably one of the top priorities now in their in-house pipeline, though they have several other novel candidates they will now move into the clinic with these additional funds.