RIGEL: 30 job cuts, new fostamatinib-led strategy
This article was originally published in Scrip
It's been a difficult year for Rigel Pharmaceuticals and it just got tougher for 30 of the company's employees, since Rigel decided to restructure its operations after fostamatinib failed earlier this year in three Phase III rheumatoid arthritis clinical trials.
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Rigel has its first US FDA approval for Tavalisse (fostamatinib) and plans to launch the drug for adults with immune thrombocytopenia (ITP) in late May, after working on the drug's development for more than a decade across multiple indications.
Biotech will cut 46 staff, mostly in research, including the entire antibody group, to focus on commercializing its Phase III thrombocytopenia candidate fostamatinib. Rigel adds industry vet Eldon Mayer to head up commercial team.
Rigel's SYK inhibitor fostamatinib met the primary endpoint in the first of two pivotal Phase III trials in chronic ITP, but yielded a treatment effect in only 18% of the patients. CEO Raul Rodriguez discussed the data in an interview.