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Making $130m plans for Rigel, including Phase II of ex-Pfizer asthma compound

This article was originally published in Scrip

Executive Summary

Rigel Pharmaceuticals has priced a public offering of 16.3 million shares of its common stock at $8 per share for proceeds of about $130 million. The new funds add significantly to Rigel's liquid assets ($155.5 million as of 31 March) and should fund the company well into 2013. The offer price represented about a 5.7% discount from the share price on 25 May.



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