SOUTH SAN FRANCISCO, Calif.,
Dec. 15, 2017 /PRNewswire/
-- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today
announced the resignation of Ryan
Maynard, executive vice president and chief financial
officer, effective December 31, 2017.
Nelson Cabatuan, Rigel's vice
president, finance will serve as the company's interim principal
accounting officer.
"On behalf of the entire company, I want to thank Ryan for his
significant contributions during his sixteen years at Rigel. We are
grateful for his leadership and the opportunity to continue our
relationship with him as he serves in a consultancy role during
this changeover," stated Raul
Rodriguez, president and chief executive officer of Rigel.
"Given the recent financing, I believe Rigel has the financial
resources to successfully prepare for the potential launch of
fostamatinib for ITP, making the timing right for this
transition."
The Company has initiated an external search for its next chief
financial officer who is expected to have significant commercial
experience.
About Rigel (www.rigel.com)
Rigel
Pharmaceuticals, Inc. is a biotechnology company dedicated to
discovering, developing and providing novel small molecule drugs
that significantly improve the lives of patients with immune and
hematological disorders, cancer and rare diseases. 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. Rigel has
submitted and the FDA has accepted for review, an NDA for
fostamatinib in patients with chronic or persistent immune
thrombocytopenia (ITP). In addition, Rigel has product candidates
in development with partners BerGenBio AS, Daiichi
Sankyo and Aclaris Therapeutics.
Forward Looking Statements
This release
contains forward-looking statements relating to, among other
things, Rigel's ability to identify and retain a chief financial
officer with significant commercial experience, Rigel's transition
into a commercial stage company and its financial position to
prepare for launch. Any statements contained in this press
release that are not statements of historical fact may be deemed to
be forward-looking statements. Words such as "believe,"
"transform," "potential," "expect," and similar expressions are
intended to identify these forward-looking statements. These
forward-looking statements are based on Rigel's current
expectations and inherently involve significant risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in such forward looking
statements as a result of these risks and uncertainties, which
include, without limitation, the competitive market for executives
in Rigel's industry and geography; the FDA may interpret
Rigel's findings differently, which could result in
the FDA not approving the NDA; the availability of
resources to develop Rigel's product candidates; Rigel's need for
additional capital in the future to sufficiently fund Rigel's
operations and research; market competition; as well as other risks
detailed from time to time in Rigel's reports filed with
the Securities and Exchange Commission, including its
Quarterly Report on Form 10-Q for the period ended September
30, 2017. 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.
Contact: Raul Rodriguez
Phone: 650.624.1302
Email: invrel@rigel.com
Media Contact: Jessica Daitch
Phone: 917.816.6712
Email: jessica.daitch@inventivhealth.com
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SOURCE Rigel Pharmaceuticals, Inc.