SOUTH SAN FRANCISCO, Calif.,
Jan. 30, 2017 /PRNewswire/
-- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today
announced that it intends to offer and sell shares of its common
stock in an underwritten public offering. The offering is subject
to market and other conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering. All of the shares to be sold in the
offering are to be sold by Rigel, with the proceeds to be used to
fund research and development activities, commercial preparation
and for general corporate purposes.
Jefferies LLC, Piper Jaffray
& Co. and BMO Capital Markets are acting as the joint
book-running managers of the offering.
A shelf registration statement on Form S-3 relating to the
public offering of the shares of common stock described above was
filed with the Securities and Exchange Commission (the "SEC") and
is effective. A preliminary prospectus supplement relating to the
offering will be filed with the SEC and will be available on the
SEC's web site at www.sec.gov. When available, copies of the
preliminary prospectus supplement may also be obtained from
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York,
NY 10022, or by telephone at (877) 547-6340, or by e-mail at
Prospectus_Department@Jefferies.com, from Piper Jaffray & Co., Attention: Prospectus
Department, 800 Nicollet Mall, Minneapolis, MN 55402, or by telephone at
(800) 747-3924, or by email at prospectus@pjc.com, or from BMO
Capital Markets Corp., Attention: Equity Syndicate Department, 3
Times Square, 25th Floor, New
York, NY 10036, or by telephone at (800) 414-3627 or by
email at bmoprospectus@bmo.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Rigel Pharmaceuticals, Inc.
Rigel
Pharmaceuticals, Inc. is a clinical-stage biotechnology company
dedicated to the discovery and development of novel, targeted drugs
in the therapeutic areas of immunology, oncology and
immuno-oncology. Rigel's pioneering research focuses on signaling
pathways that are critical to disease mechanisms. The company's
current clinical programs include clinical trials of fostamatinib,
an oral spleen tyrosine kinase (SYK) inhibitor in a number of
indications. The company completed and reported results from two
Phase 3 clinical studies of fostamatinib in chronic immune
thrombocytopenia (ITP) in August and October
2016. Rigel is also conducting a Phase 2 clinical trial with
fostamatinib in autoimmune hemolytic anemia (AIHA) and a Phase 2
clinical trial for IgA nephropathy (IgAN). In addition, Rigel has
two oncology product candidates in Phase 1 development with
partners BerGenBio AS and Daiichi Sankyo.
Forward-Looking Information is Subject to Risk and
Uncertainty
Certain of the statements made in this
press release are forward looking, such as those, among others,
relating to Rigel's expectations regarding the completion of the
proposed public offering. Actual results or developments may differ
materially from those projected or implied in these forward-looking
statements. Factors that may cause such a difference include,
without limitation, risks and uncertainties related to whether or
not Rigel will be able to raise capital through the sale of shares
of common stock, the final terms of the proposed offering, market
and other conditions, the satisfaction of customary closing
conditions related to the proposed public offering and the
impact of general economic, industry or political conditions in
the United States or
internationally. There can be no assurance that Rigel will
be able to complete the proposed public offering on the anticipated
terms, or at all. You should not place undue reliance on these
forward-looking statements, which apply only as of the date of this
press release. Additional risks and uncertainties relating to the
proposed offering, Rigel and its business can be found under the
heading "Risk Factors" in Rigel's Quarterly Report on Form 10-Q for
the quarter ended September 30, 2016
and other filings with the SEC, and in the preliminary prospectus
supplement related to the proposed offering to be filed with the
SEC on or about the date hereof. Rigel does not undertake any
obligation to update forward-looking statements and expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in its expectations with regard
thereto or any change in events, conditions or circumstances on
which any such statements are based.
Contact: Raul Rodriguez
Phone: 650.624.1302
Email: invrel@rigel.com
Media Contact: Jessica Daitch
Phone: 917.816.6712
Email: jessica.daitich@inventivhealth.com
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SOURCE Rigel Pharmaceuticals, Inc.