Rigel Pharmaceuticals has said that it is raising approximately $130.4 million as the result of a stock offering involving 16.3 million new shares. The company says that it expects the offer to close on or about June 1, 2011. Pfizer recently returned the rights to Rigel’s inhaled syk inhibitor, R343.
R343 is ready to move into Phase 2 trials, and the money raised will help support further development of that product and others in the company’s pipeline.
Read the Rigel press release.
